Trickle Up Economics

America is at a point where past economic philosophies can no longer be trusted. The concept of "Trickle Down Economics" - part of Reaganomics has failed us. taking care of the elite and trusting them to create jobs and prosperity for the middle class as failed.

As our leaders contemplate a $700,000,000,000.00 bailout of Wall Street I have to wonder why. Why should the tax payers bailout those that have made billions at their expense when it does nothing for the home owner that is losing his/her home? Why?

I speak from first hand experience. I was in foreclosure. I was raped by Countrywide financial. Do to an economic hardship I fell three months behind on my mortgage. right as I was making the financial turn, Coutrywide, without warning foreclosed on my mortgage. This was bad, what was worse is that they pretended to want to work with me to solve the problem while filing the bankruptcy. The first time that I found out that I was in foreclosure came when a third party informed me.

At this point Coutrywide avoided all phone contact. They then tacked on $6000.00 in fees on top of the late payments. $6000.00 - "legal fees and processing".

Well low and behold some other mortgage genius was ready to refinance me. So at an expense of $7000 I was able to refinance my home. Someone in foreclosure could refinance through another company but the current mortgage holder wouldn't work with me.

So, these poor rapists, I mean mortgage companies managed to squeeze $13,000 out of me as I paid off Country Wide and refinanced with another company. $13,000!!! Financed over 30 years.

I have zero compassion for these companies and those that got rich in the "housing boom". If we as a country are ready to send $700 BILLION dollars then it needs to be infused into the economy at the bottom.

If we are buying "bad debt" then buy it from the homeowners. Give them the cash to get caught up on their mortgage and keep their homes. Ultimately the money ends up in the banks anyway so what's the difference EXCEPT people get to keep their homes.

Its time to try "TRICKLE UP ECONOMICS". Infuse the system from the bottom and see what happens.

Also, during the first Presidential Debate both candidates mentioned tax cuts for those that earn less then $250,000 a year. Hello! How about realizing that if you earn over $150,000 a year you are doing okay and can pay a bit more. Big time reality check needed here from both sides of the aisle.