What would happen if every NYC resident received $100,000? (school, pay)

[11KAP]

many people would take the money and move,
because the man would manipulate everything,
as usual, to stay on top of everybody smh.

[CSD610]

Originally Posted by DoNotShake

hypothetically, say Bill Gates decided to conduct a social experiment and gave everyone $100,00K.
[a] What would be the immediate effect?
--MASSIVE amounts of consumer spending
[b] What would be the long-term effect?
for the rich: doesn't matter
for the poor: huge boost but maybe spend it all?
for the upper: a vacation, a gift, and the rest save it.
for the middle: a vacation, a gift, and the rest save it.

I am guessing a lot would be frivilous with it and not pay off any of their debt but spend a ton on new, shiny, pretty materialistic crap.

Some would save it and not spend any or spend very little. Others would be responsible and pay off all their debts and save most of the rest and throw in a wee bit of a splurge for a luxury.

[luvnyc]

There would be a drastic increase in murders.

[bigjake54]

Originally Posted by DoNotShake

say Bill Gates decided to conduct a social experiment and gave everyone $100,00K.

Large families would leave town with the $1 million!
Many would blow it. Some would save it.

[urbanlemur]

would move to TN...

[mathjak107]

Better yet what if every new yorker on welfare and shouldn't be got a job?

[availableusername]

There'd be a hell of a lot of lotto sales in the hood.

[mathjak107]

Ha ha ha

[TiberiusOfRome]

Folks in the hood would blow it on expensive sneakers and other trivial objects.

[BlueRidge1]

Originally Posted by NJ Brazen_3133

No there is rent controll, rent stabilization, and Vacancy allowance is only so much and there is still market forces.

"market forces" and "rent control" are two contradictory concepts