This bailout needs to be scuttled, quickly.
I think the better alternative, which was proposed by Newt Gingrich, is the elimination of the cap gains tax.
Eliminating cap gains would draw in foreign investment, bring jobs to America, maybe even entice companies to relocate to America.
Eliminating cap gains would reward successful businesses, give a break to struggling businesses and punish failing businesses, because failing businesses have no cap gains to report.
See Newt’s article:http://corner.nationalreview.com/post/?q=ZGE5MmE0YmRiODA3YTRiNzFlN2FmNDU5N2I0ZDc3YTE=
Getting government out of the way is much better than creating a massive government program.
I don’t understand how eliminating capital gains is going to bring in foreign investments and American jobs, unless they relocaate to America 1st?