A solution to our economic woes

Dani

Dani

Well-known member
My grandpa came up with an interesting solution to our current economic woes:

Instead of using $700 Billion to bail out the folks who got us into this mess that we’re in, why don’t we take the money and give it to the “little” people?

There are 305.5 million people in our country, give or take a little. Let’s cut out the people who make over $500,000 a year (I have no clue how many people that might be) and everyone else (or perhaps every household) gets a check for $1 Million. That allows folks to pay off mortgages, bills, put money in the bank, spend some money and help re-stimulate our economy.

What do you think about that? Do you think that might be a better solution than what has been come up with so far?
 
If I thought everyone would use it wisely- pay off houses, cars, credit cards etc. I think it would be
a great idea. I just dont have enough faith in my fellow humans to believe they would do that.
How many people do you know who would pay off thier debts and then run out and accumulate more?
I know way to many.
 
The problem with that is that the math is wrong. Even if you assume that 50M people are making over $500K and spread the $700B over the remaining 300M people, it only comes up to be $2,000/person.

I think that a much better plan would be to let all those fools that keep living above their means to fall flat on their face and go broke. Don't bail them out, don't give them a stimulus check, don't give them welfare, and don't give them ANYTHING. Let them get cold and let them go hungry. Then and only then will they start to understand the importance of planning, saving, and self reliance.

Will that ever happen? I think it will. But, not until the people keep voting for a president who will give them everything until we go broke and either learn a real hard lesson or have a revolution.
 
If you go by giving out money to just those who filed a tax return, then it's just under 6K each. I think that number would at least double if you went by who filed a return and PAID taxes. Bad thing is, I think all it would do is drive inflation up to Jimmy Carter levels.
 
Not to worry...according to Obama, he will redistribute the wealth. Socialism is alive and well. God help us all if that man gets elected.
 
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