Owning a house: the dream that every man dreams of. The American dream is both a privilege and a burden. Generally, realizing a dream you've had since adulthood is enjoyable, however, for many Americans, the possibility of owning their own home is a temptation too hot to resist. I live in Williamson County, Tennessee, which at one point, period, was ranked among the ten wealthiest counties in the entire United States. The point is this: If you live in Williamson County, you probably have money. I have witnessed how people are driven to “keep up with the Joneses” and it causes America as a whole to suffer financially. I think we can all agree that the majority of our current economic problems are due to faulty loans. Greed and irresponsibility are killing the market economy we currently enjoy. My belief: that everything financial is linked and directly linked to the success and disappearance of other sectors. My solution: a. pass a law stating that people who default on their loans AND go bankrupt should be required to live in government-subsidized housing until a reparation payment equal to ¼ of the loan can be made to the institution financial institution which granted the loan, in addition. an additional 5% withholding tax for five years following bankruptcy on each paycheck. this amount will be matched by the federal government. using this hold penalty, once the TOTAL loan amount or financial institution settlement amount has been settled, e. offenders will enter a five-year probationary period, during which ALL housing decisions must be approved by a probation officer. The accumulation of 10% deductions (5% from the offender, 5% from the government...... middle of paper ...... not to make a profit by taking advantage of people. The government is there to help the country to function; the people are not there to operate the government Therefore, I think the federal and state income taxes should be waived during the probationary period, as I said, we want to help the people. to recover, not to break them. More than all this, I believe that the economic situation would improve SIGNIFICANTLY if this program was implemented. Because the money is linked, if the housing sector s. The financial sector is improving, the financial sector is improving, the small business sector is improving, the list goes on. This idea is not just a recovery from bankruptcy, but an economic recovery plan. which would improve our economy in a very reasonable period of time, WITHOUT injecting billions of dollars into a recovery plan..