Economic Recovery Plan Essay - 1052 Words

Owning a home: the dream that every man dreams. The American dream is both a privilege and a burden. Typically, realizing a dream that you have had since maturity is pleasurable, however, for many Americans, the possibility of owning their own home is a temptation that burns too bright to resist. I live in Williamson County, in Tennessee, which, at one point, was ranked in the top ten wealthiest counties in the entire United States. The fact is this: if you live in Williamson County, you most likely have some money. I have seen firsthand how people are tricked into â€Å"Keeping up with the Jones’†, and it is causing America as a whole to suffer financially. I think we can all agree that the majority of our current economic problems†¦show more content†¦f. the excess monies from the withholding penalty may not be used for anything purpose other than purchasing a home of renting an apartment/home. The excess withholding money expires and is returned to the federal government to be used expressly for social security, the day after the probationary time period ends. g. repeat offenders, or offenders who make a significant housing decision without consulting their probationary officer, during the probationary period will be imprisoned for 15 years. h. Once the full or settled amount has been paid, the offending financial institution will pay 1% of the full loan amount to the federal government to offset the costs of the bankruptcy, as well as any taxes that were not paid by the offender while in the program. i. Federal and state income taxes that are in excess of the typical withholding percentage from the paycheck can be waived during the specified period by the probationary officer. This may seem like a harsh penalty, however, let me explain the ethics behind my idea. I believe that there are consequences for bad actions. I believe that if you get greedy and purchase a home that you cannot afford then you deserve to be punished. However, it is very sad for me to see families suffer because their mother or father is imprisoned after poor financial decisions. This law would ensure that the offenderShow MoreRelatedThe European Economic Recovery Plan1244 Words   |  5 PagesEU as a whole experienced significant economic slowdown in 2008, as reported by the EU commission . In response to this in 2008, the European Economic Recovery Plan (EERP) was launched. The plan aimed to increase demand by bolstering purchasing power, revive the labor markets, and raise confidence in the financial system. Since the EU is only a common currency union and not fiscal union, it limited the ability of EU leaders and institutions to respond. In result, the crisis escalated and in 2009Read MoreDisaster Of Emergency Management Plan1276 Words   |  6 Pagesemergency management plans get put into action. 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