My friend, PR pro Gary Knowles has been Twittering to his flock of over 600 followers his idea for a stimulus package that actually does something more than reward bad corporate behavior.
As pointed out by David Segal in the New York Times, personal consumption makes up 70% of the American economy. So, rather than pour the money into corporate rat holes, Gary suggests providing it to Americans to use for travel:
"Let’s ask President Obama and Congress to put the money where it will create jobs, raise morale and promptly put dollars into the hands of those who will rapidly turn them back into the local, regional and national economy.
We need the National Economic Stimulus through Tourism program. NEST will send every adult taxpayer and every adult social security recipient a check for $500 for each person reported on their most recent federal tax filing. These checks will be good for use in the 2009 calendar year only and can be used only in payment for a vacation (at least two nights and 100 miles from the home address) at certified travel businesses (resorts, lodging, dining, transportation, amusement and tour businesses) within the United States.
Each state will publish, on the web and in newspapers, a list of businesses certified within the state so individuals can quickly make reservations and start enjoying their “stimulus”.
This will immediately put money into travel businesses that will hire workers to deal with the increased demand. These businesses historically offer good employment to millions of people who are young, older, new to the work force, minorities, students and many in need of part-time jobs. These people, and the businesses who employ them, tend to spend and re-invest their earnings as fast as they get them, thus rapidly circulating the dollars back into their local communities. These earnings will help encourage people to go out and buy cars, help to make home mortgage payments, pay for rent, food, and other consumer goods – thus further stimulating the local economy.
In addition these businesses and their employees pay plenty of local, sales, state and federal income taxes, so tax revenues will increase.
It may not solve all our problems, but there’s no argument that it will be a better, quicker and more successful shot in the arm than the useless massive transfusion we gave to the walking dead in the financial community.
Write your federal representatives and President Obama, post it on your blog and website, your Facebook Page and Twitter until your fingers hurt – We need NEST now!"
Brilliant, Gary. Simply brilliant.
Pass it on!
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