The best Idea I've heard yet... (buy, sell, tax, money)

[jimj]

Is instead of the 700 billion dollar payout how about giving the population of the US 1 million each. According to the census it stands at a tad over 305 million people so it'd be cheaper by over half and if every person got 1 million who'd care what the market did or if some banks failed? Think about it, everyone could by a house or pay off the one they have and all their bills as well.
I kind of like it, short, snazzy, cheaper that the bailout so who'd complain or oppose it?

U.S. POPClock Projection

According to the U.S. Bureau of the Census, the resident population of the United States, projected to 09/26/08 at 23:07 GMT (EST+5) is
305,264,997

[EDnurse]

Originally Posted by jimj

Is instead of the 700 billion dollar payout how about giving the population of the US 1 million each. According to the census it stands at a tad over 305 million people so it'd be cheaper by over half and if every person got 1 million who'd care what the market did or if some banks failed? Think about it, everyone could by a house or pay off the one they have and all their bills as well.
I kind of like it, short, snazzy, cheaper that the bailout so who'd complain or oppose it?

U.S. POPClock Projection

According to the U.S. Bureau of the Census, the resident population of the United States, projected to 09/26/08 at 23:07 GMT (EST+5) is
305,264,997

Giving one million to each inhabitant of this country will be cheaper than this boondoggle of a bailout.

[NJ Chutzpah]

hahahaha

come to think of it

You are right about that

it would be cheaper, and does solve our problems, but it would be a lower severance for the CEO of the failures

[chuck22b]

Hi guys,
I think someone else mentioned a similar plan on another thread... but the math is off.

700 billion wouldn't give each person 1 million. The 150 billion tax rebate we got earlier this year gave each tax payer $600. So, 700 billion would give about $2,800 for each tax payer. Not really anything spectacular.

-chuck22b

[jimmyP]

Originally Posted by jimj

Is instead of the 700 billion dollar payout how about giving the population of the US 1 million each. According to the census it stands at a tad over 305 million people so it'd be cheaper by over half and if every person got 1 million who'd care what the market did or if some banks failed? Think about it, everyone could by a house or pay off the one they have and all their bills as well.
I kind of like it, short, snazzy, cheaper that the bailout so who'd complain or oppose it?

U.S. POPClock Projection

According to the U.S. Bureau of the Census, the resident population of the United States, projected to 09/26/08 at 23:07 GMT (EST+5) is
305,264,997

Like your thinking but your math is wrong. 300 million x 1 million by my calculation is 300 trillion. Anyway I can't count that high but it's way more than 700 billion. 700 billion is equal to $3,500 for every person.

[cardinal2007]

Giving 305 million people 1 million USD each would cost $305 Trillion USD. I don't know what the money supply currently is but last time I heard of the M3 supply it was estimated to be $10.29 Trillion in Feb 2006.

I suspect increasing the money supply 30 fold would lead to hyperinflation, but I can't be certain. But really what would be so bad about $300 movie tickets, or $360,000 subcompact cars? Buying anything before this payout would give you a very good return on investment, provided you can sell it later.

[Movie Lover]

$1million each - then you'd all be greedy CEO types.

[xavier132487]

$300 movie tickets

I could then tell youngsters that back in my day, it only cost $10 to see a movie and $7 to buy popcorn there. :-P

[Mircea]

Originally Posted by cardinal2007

Giving 305 million people 1 million USD each would cost $305 Trillion USD. I don't know what the money supply currently is but last time I heard of the M3 supply it was estimated to be $10.29 Trillion in Feb 2006.

I suspect increasing the money supply 30 fold would lead to hyperinflation, but I can't be certain.

That's exactly what would happen.

Originally Posted by cardinal2007

But really what would be so bad about $300 movie tickets, or $360,000 subcompact cars? Buying anything before this payout would give you a very good return on investment, provided you can sell it later.

It wouldn't even take 30 seconds for Wal-Mart to program a 30,000% increase in prices.

[jimj]

Sorry 'bout the math thing, wasn't thinking straight due to coffee wearing off... But I think if it was adjusted to $500k to every tax payer who has less than $500k in cash savings it might work.