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Clinicalfrog | Bail out plan 1 million for us not Wall Street!? |
Instead of spending $700 billion dollars to "bail out" Wall Street what would happen if the Feds would just give each US family 1 million dollars? I would buy for sure! I have a job at a community college and a Master's degree but I cannot afford to buy a house for my family of 4!!! Give us at least $500,000 and I'll buy a house and car that we need. Others can pay off their house.
Can this be done?
Additional Details
Well there are about 280 millions people in the US and a million for each family is less than 280 million dollars. If this is communism why can they give it to the rich through Wall Street and not us? |
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lastsliceofpizza
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They could... and if you want to see the result take a look at Germany after World War I.
Wealth is created not through money but through production. Money is a store of value (or a way to measure) that production. By just giving everyone a million dollars, but not having an increase in production you just have a lot of dollars wanting to purchase a limited number of goods... net result, the price of everything increases. In your case they skyrocket, so people who carefully have worked & saved have in one moment watched the value of all their hard work & sacrifice disintegrate. If that can happen then why work (read why produce)? Everyone takes their $1 million now nearly worthless bucks and swap it for whatever they can get that's already been produced (say a couple of $250,000.00 rolls of TP). The economy is ruined, nobody wants dollars, nobody wants to work for worthless dollars, no foreign nation will trade with us or lend us money, wouldn't be shocked if people will start murdering others for their gold fillings. |
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knightrider2007
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The government would never do that in a million years as people would probably give up their jobs and not many people would bother working. |
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teamjsam
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If they gave us all 1,000,000,000.00 every single person in the US would stop working or at least 99% of them and then we would be in a complete mess. |
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annazzz1966
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Sorry, no. The common tax payer does not want to fund your lifestyle because you are not willing or unable to save and invest. American's are drunk on credit and this is how we got into this mess in the first place.
How about requiring personal financing courses in high school along with sex ed? Maybe we as a country would be better off down the line. |
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Ryan L
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Where would that money come from? Either it would be taken out in taxes, so you would be basically paying yourself, with a little extra taken out by the bureaucracy as transaction cost - or it would be printed by the Fed with no backing, which would severely depress the value of the dollar, so that $500,000 would be worth much less than it would be anyways. Granted, the same thing is true with this bailout. You can't just create wealth out of this air, sadly. |
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carpediemmaster
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I like your idea!! |
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Salim
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If they give us the money, what will those CEOs get? |
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.:Lena:.
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That's the stupidest thing I've heard all day.
Were would you keep your money if your bank fails? This money would have been going to make sure the bank didn't go out of buisness, taking your money with it!
The problem is that the banks gave money (loans) to people who didn't deserve it (like you), and then those people didn't pay off the money, putting the banks in debt. Then when you went to withdraw your money from the bank, it wasn't there. Soon the banks starting going out of buisness (WaMu, Wakovia.. etc)
IT WOULD NOT WORK. THE REAL PROBLEM LIES IN OUTSOURCING (large corporations taking away american jobs, giving people jobs in India)
you need to learn a bit about how the economy works.. the government can't just print money and give it to you. that would make the value of our dollar go down even more.
YOUR "PLAN" SOUNDS LIKE COMMUNISM TO ME.
edit: it sounds like communism in the fact that it is giving money to people who haven't worked for it.
the aren't 'giving it to the rich', they are giving it to the banks so that they can actually have some money; most of our banks are in an incredible amount of debt.
so the money goes to all americans, though not directly. |
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Thomas F
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your arthimatic is a little off. if they gave everyone a million dollars that would be 300 trillion dollars they would be giving out. the bail out plan is equal to about 2500 dollars for every man, woman, and child in the US |
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Jayson
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that would definitely help the economy. it sure would get alot of people to pay off their debt. infact, they should put that into a clause. if you have outstanding debt the $500.000 must go towards that first. |
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Tiffknee baby
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The US Govt. is too greedy.
Even if it was possible they would NEVER give up that much money.
Except for war. |
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Vikkip67
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Sounds good to me. |
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