'Refunding America': Legislation Could Put the Power to Solve the Economic Crisis in the Peoples' Hands

Dec 10, 2010, 15:43 ET from refundingamerica.org

GREENSBORO, N.C., Dec. 10, 2010 /PRNewswire/ -- These are historic times; we've never seen an economic crisis like the one we're in now.  For two years, failed legislations promising to better the situation have only resulted in depressing the American people even more.  But what if we could reignite our economy with our own money?

Refunding America is a plan to fix the economy that will:

  • Put money directly in the hands of working, responsible American households
  • Promote responsible spending without further costing taxpayers
  • Completely reverse the 2008/2009 losses in consumer spending

To reignite our economy, we need to spend money. Unlike Washington and Wall Street, we the people have the power to spend money without handouts or bailouts.

Americans have over $8.1 Trillion in IRAs and 401(k)s. The "Refunding America" plan, calls for legislation to allow anyone with a Defined Contribution account (including 401(k), 403(b), 457, TSP, etc.) or an IRA to withdraw up to 20% of their account balance without paying penalties or income tax. The proposed legislation would grant this opportunity to any IRA or DC account holder for any reason.

This will put an extra $22,000, on average, into the hands of 64% of working American households.

All Americans deserve financial security. To restore that right, we need to correct the mistakes of the financial institutions, reignite our economy, and return to real business principles of buying and selling goods and services with real value. To make this happen we need money to spend. We don't want, need, or ask for handouts or bailouts. We have our own money and we have the right to use it. We need to let Washington know that it's our turn to fix this mess. We need to tell Washington to put the Refunding America plan to work. Then we can show them how, with just 20% of our own money, we can help solve the economic crisis ourselves.

To make this happen, CONGRESS NEEDS TO HEAR YOUR VOICE. For more information, visit www.refundingamerica.org.

Contact:  Tim Booras

336 202 4474


SOURCE refundingamerica.org