GURNEE, IL, November 20, 2008
/24-7PressRelease/ -- Franklin Roosevelt's famous quote "the only thing we have to fear is fear itself" could aptly be applied to the current economic crisis. the current economic fears are the most dangerous aspect of this recession. This innovative plan addresses those fears with unprecedented economic opportunities.
1. The federal government must announce and implement an immediate 15% tax rebate to all purchasers of American made automobiles and trucks. This tax rebate will apply to both individuals and businesses. The tax rebate will be determined by a multiplying 15% of the purchase price by the percent U.S. manufacturing of that vehicle. it will apply to all vehicles whether they are luxury or economy, business or pleasure. this could be extended to RV's, boats, small aircrafts and farm and construction vehicles.
2. The tax rebate will be immediately dispersed as a "gift card credit card" and the proceeds must be used within 60 days or they will be forfeited. this will produce an immediate widespread economic stimulus.
3. The tax credit may be forwarded to charitable organizations and be considered a deductible expense. this will help charities weather this economic crunch.
4. The Rebate supports the car industry by promoting the purchase of automobiles which allows new production creating jobs throughout the auto industry. These sales will insure future solvency of the automobile industry and allow it time to retool for the new economy. The $25 Billion that the Auto companies are asking for does not support the economy at large.
5. By giving rebates in proportion to percent of U.S. manufacturing it will insure equality to all manufacturers based on percent U.S. manufacture. we do not want to injure foreign companies that have invested in our manufacturing sector producing jobs needed for our future security. it will encourage increased U.S. manufacturing for those companies as well as more honest accounting of where manufacturing profits occur.
6. The economic stimulus of this package to the entire economy will be enormous as the money trickles up helping all consumer oriented businesses. this will in turn help their suppliers.
7. The tax credit must be a short term program designed to jump start consumer and business spending. a 90 day program with an additional 60 days to spend the credit will create an impetus to act.
8. The tax credit will be in effect for the holiday shopping season if we can insure rapid implementation.
9. The use of credit card gift cards is the most effective way to put this tax credit in the hands of consumers asap. the credit card companies will receive their normal merchant fees only.
10. Increased tax revenues from economic stimulus will offset much of the cost of the program and will certainly be less expensive than bailing out auto companies or losing millions of jobs when they shut down.
Dr Ira L Shapira calls on President Bush, President elect Obama and the congress to take immediate bipartisan action to save our economy and to help protect the jobs of all Americans directly and indirectly associated with the automobile industry.
Dr Ira L Shapira is an author and section editor fo Sleep and Health, President of I HATE CPAP LLC, President Dato-TECH, President of Chicagoland Dental Sleep Medicine Associates and has a Dental Practice with his partner Dr Mark Amidei in Gurnee, Illinois. Dr Shapira has several patents related to the collection of stem cells during minimally invasive early removal of wisdom teeth. He is the founder of I HATE CPAP LLC and
www.ihatecpap.com# # #
Press Release Keywords:- automobile, tax incentive, tax credit, recession, depression, jobs, industry, economic stimulus, president bush, president elect barack obama, roosevelt, "only thing we have to fear is fear itself"taxes, tax refund, stimulus, bailout. solvency, dollars, trade balance, security
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