pecker_head_bill asked: I hear a lot about stimulus packages being considered by the government to jumpstart the economy, usually it entails sending a check to those who qualify in various amounts, then waiting to see how the windfall will be spent. If the stimulus money does not circulate in the proper growth areas the economy continues to languish. I believe the economy can be jump started, if done in the correct manner. Getting an American populace already strapped to spend money is no easy task. The reluctance to spend and or invest continues to erode away not only the economy but also what we have already developed in our communities.
In the past the government has tried to entice property owners into investing in home improvements such as insulation, energy conserving improvements, replacement windows and such by offering tax credits for these investments by the owner. This was a win/win situation but it did not have eligibility for all as some of these were for improvements on rental property only.
I see an opportunity to conserve our energy resources, improve our communities, increase our local tax base, stimulate our local economy as well as create jobs.
I feel that based on a pre-qualification of any individual property owner based on their income that program could be created where we could promote investment in our personal property and land which would yield all that I have already mentioned and more.
The program would consist of a dollar for dollar match from funds supported by local, state and federal entities, the total available amount to an individual would be based on their own economic qualifications. Upon approval of application the homeowner would contact at least three local contractors to estimate and bid on the improvement work to be performed a percentage which could be for improvements that would raise property value regardless of energy conservation concerns. As long as the estimates were all within a certain percentage say five to ten percent of the total cost, the homeowner could choose the bidder desired to do the work. The homeowner would have to prove they have their share of the investment either cash or approved finance before work started and the government would process their portion of payment on satisfactory completion of the work in a timely manner. Local contractors participating would need to be approved based on insurance, licenses, permits etc. Property improved under this program if sold within a certain time frame would be subject to a penalty to preclude abuses by house flippers.
The local small business and labor would benefit as well as local material supply houses, the property values would increase based on improvements and our community would look maintained. The homeowner could realize cost savings from energy conservation that over time could equal his or her investment as well as enjoy the increased property value.
Total improvement packages could be approved as high as thirty thousand dollars based on the property owner’s ability to invest up to fifteen thousand dollars of their own funding.
Now, that’s what I call a stimulus package with a win/win situation.
Hookem, I don’t know how this would equate to sending the money straight to mexico? The contractors would be approved using legal labor who pay taxes. My feeling is that they won’t lower our taxes so lets find away to get some money rebated to us that have paid the taxes, worked hard and deserve a stimulus package and not give it to someone who will spend it on booze, drugs or who knows what else that has no positive impact.
justgeti: The idea is that no one gets money to just pocket. the funds are earmarked for the approved home improvment on the house of someone who has worked hard, paid taxes, is willing to invest matching funds and is foremost qualified to do so.
Christian 1: It is sad that the large corporations have gotten away with paying such low taxes, but at this time raising their taxes will fuel a war that will only subject the middle class to abusively high product and service costs. Also remember that much of the middle class worked for these corporations at some point and their retirement funds are tied to investments in these companies to ensure the expected amount of their pensions. So its a catch 22 one that I don’t like either.
Typo: I’m sure if you read my other details you see we are not far apart….I busted my *** also all my life.
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