A million dollars each...

January 7, 2009

There are about 300 million of us now, and if the government were to give each and every one of us a million dollars a piece it would only cost about $300 trillion. Considering that we're now talking about trillion dollar annual deficits "for years to come" why not just make everyone an instant millionare now and be done with it? Instant recovery, instant gratification. The economy would boom for decades and poverty would be instantly, although probably only temporarily, erradicated.

Since we obviously have no intentions of paying back the money we currently owe, shouldn't we aim higher? :Cool:

I know that some of you are going to think that this is a joke, but really, why not? What would the difference be? Why wouldn't it work? It seems like a win-win situation.

January 7, 2009

Not to rain on your parade, but what about instant inflation, and suddenly that million bucks is not worth much?

January 7, 2009

In! :wave:

January 7, 2009

At least we'd know that the motorcycle manufacturers would stay in business! :grin: :wave:

January 7, 2009

Great idea, and it probably would also have been cheaper to simply pay off every Iraqi citizen than what the military invasion will end up costing... to bad you didn't propose your plan sooner...

January 7, 2009

In!

I knew I could count on you, Marty. :thumbsup:

January 7, 2009

Great idea, and it probably would also have been cheaper to simply pay off every Iraqi citizen than what the military invasion will end up costing... to bad you didn't propose your plan sooner...

Pay Iraqi citizens to do what?

January 7, 2009

Great idea, and it probably would also have been cheaper to simply pay off every Iraqi citizen than what the military invasion will end up costing... to bad you didn't propose your plan sooner...

I know, I know. It's killing you that it's working over there. I feel your pain, brother.

But, of course, that has absolutely nothing to do with my original post.

January 7, 2009

But, of course, that has absolutely nothing to do with my original post.

C'mon, there's a clear similarity... both posts are obvious trolls...

January 7, 2009

But, of course, that has absolutely nothing to do with my original post.

C'mon, there's a clear similarity... both of our posts are obvious trolls...

The only similarity is the english language. My premise is actualy an interesting one. If we're going to rob the cookie jar, shouldn't we get all of the cookies?

January 7, 2009

Not to rain on your parade, but what about instant inflation, and suddenly that million bucks is not worth much?

Sharon, I hear what you are saying, but why would such a move cause inflation?

January 7, 2009

Not to rain on your parade, but what about instant inflation, and suddenly that million bucks is not worth much?

Sharon, I hear what you are saying, but why would such a move cause inflation?

It might actually cause deflation, if everybody hoarded their million dollars, and refused to spend any of it. Isn't that what millionaires do? We might have to have another tax rebate on top of that to stimilate the economy.

January 7, 2009

Not to rain on your parade, but what about instant inflation, and suddenly that million bucks is not worth much?

Sharon, I hear what you are saying, but why would such a move cause inflation?

When everyone at once tries to buy a Hummer the lack of supply will drive prices UP!!!!

Inflation: Too much money chasing too few goods.

January 7, 2009

Or, the opposite might happen. Since the million dollars per person payments would be absolutely unprecidented, it might cause absolutely unprecidented inflation. Maybe even to the extent that the currency would become worthless. Which would present an absolutely unprecidented opportunity. We could offer to pay off the national debtholders with currency, which would be worthless, or, as a special one-time offer, we would give each holder of $1 billion of treasury obligations 1 $20 gold piece in exchange for their securities. We have enough $20 gold pieces stored at Ft. Knox to do this. The security holders would get something of real value for their securities, instead of nothing, they would get a nice tax writeoff, and the entire national debt would be retired. After the national debt was retired, there is no reason to believe that rampant inflation would continue, so whoever had managed to hold on to any of his million should do quite nicely ever after.

January 7, 2009

I'm disappointed at your lack of ambition, Steve. As long as we're baking magic cookies, why not give each of us $10 million or $100 million or why not make it $1 billion. I deserve $1 billion.

January 7, 2009

It might actually cause deflation, if everybody hoarded their million dollars, and refused to spend any of it. Isn't that what millionaires do? We might have to have another tax rebate on top of that to stimilate the economy.

I'm following you, Dave. Makes perfect sense to me.

January 7, 2009

When everyone at once tries to buy a Hummer the lack of supply will drive prices UP!!!!

Inflation: Too much money chasing too few goods.

But, wouldn't that help GM? Isn't that what we're after?

January 7, 2009

I'm disappointed at your lack of ambition, Steve. As long as we're baking magic cookies, why not give each of us $10 million or $100 million or why not make it $1 billion. I deserve $1 billion.

I thought about it, Michael, but I didn't want to sound greedy. Thanks for taking that burden off my shoulders.

January 7, 2009

Or, the opposite might happen. Since the million dollars per person payments would be absolutely unprecidented, it might cause absolutely unprecidented inflation. Maybe even to the extent that the currency would become worthless. Which would present an absolutely unprecidented opportunity. We could offer to pay off the national debtholders with currency, which would be worthless, or, as a special one-time offer, we would give each holder of $1 billion of treasury obligations 1 $20 gold piece in exchange for their securities. We have enough $20 gold pieces stored at Ft. Knox to do this. The security holders would get something of real value for their securities, instead of nothing, they would get a nice tax writeoff, and the entire national debt would be retired. After the national debt was retired, there is no reason to believe that rampant inflation would continue, so whoever had managed to hold on to any of his million should do quite nicely ever after.

See folks, there you go. Now we're thinking outside the bun. :clap:

January 7, 2009

I'm disappointed at your lack of ambition, Steve. As long as we're baking magic cookies, why not give each of us $10 million or $100 million or why not make it $1 billion. I deserve $1 billion.

A billion here, a billion there, pretty soon you'll be talking about real money!!

January 7, 2009

When everyone at once tries to buy a Hummer the lack of supply will drive prices UP!!!!

Inflation: Too much money chasing too few goods.

But, wouldn't that help GM? Isn't that what we're after?

Didn't GM sell Hummer?

January 7, 2009

Didn't GM sell Hummer?

Not according to their website.

General Motors - Hummer

January 7, 2009

Steve, right after every U.S. citizen receives their million bucks, we will need to open all the borders. Otherwise, who would wait on us in restaurants, who would do our dry cleaning, who would deliver our mail, who would clean our homes, who would work at Wal Mart?

January 7, 2009

:dopeslap:

January 7, 2009

who would work at Wal Mart?

Who would SHOP at Wal Mart ??? :rofl:

January 7, 2009

Let's go for it. I would immediately buy a medical doctor!

Mike O

(and another bike)

January 7, 2009

When everyone at once tries to buy a Hummer the lack of supply will drive prices UP!!!!

Inflation: Too much money chasing too few goods.

But, wouldn't that help GM? Isn't that what we're after?

Not exactly.

It would create price inflation as well as wage inflation. Price inflation because, as has been stated, too much money chasing too few goods drives prices higher. As an example, the liquidity and ease of credit in the housing market in recent years, and the corresponding increase in house prices -- and subsequent decrease in prices corresponding to a tightening of credit and liquidity.

Wage inflation because wage earners, flush with a cool $1 million (and not quite aware of the macroeconomic implications as yet), will require a greater incentive to work: that incentive being increased wages.

An increase in wages is also required to offset the increase in prices in order for consumers to afford goods; while an increase in prices is required to offset the increase in wages that management must pay. It gets to be real ugly real quick.

There was an editorial in the WSJ around 2006 where the author suggested that the government hand out checks for around $130,000 each; don't recall all the details, but the scheme is a stimulus plan writ large, and would probably be more effective (and less inflationary) at the lower number.

January 7, 2009

Why wouldn't it work?

I've said it before, & I'll say it again. C'mon Steve, you're smarter than that.

All the losers will blow it on lotto tickets, all the crack heads will blow it on crack & ho's, then all of the above will demand that gubment take part of your & my million & give it to them.

Like Mom used to say, you can't make a silk purse out of a sows ear.

PS; In the off chance it happened, the tenth thing I'd buy would be a new KTM.

January 7, 2009

Steve, right after every U.S. citizen receives their million bucks, we will need to open all the borders. Otherwise, who would wait on us in restaurants, who would do our dry cleaning, who would deliver our mail, who would clean our homes, who would work at Wal Mart?

Damned! Always someone throwing cold water on the party. How about keeping your comments to yourself until AFTER we get the mil.

January 7, 2009

When everyone at once tries to buy a Hummer the lack of supply will drive prices UP!!!!

Inflation: Too much money chasing too few goods.

But, wouldn't that help GM? Isn't that what we're after?

Not exactly.

It would create price inflation as well as wage inflation. Price inflation because, as has been stated, too much money chasing too few goods drives prices higher. As an example, the liquidity and ease of credit in the housing market in recent years, and the corresponding increase in house prices -- and subsequent decrease in prices corresponding to a tightening of credit and liquidity.

Wage inflation because wage earners, flush with a cool $1 million (and not quite aware of the macroeconomic implications as yet), will require a greater incentive to work: that incentive being increased wages.

An increase in wages is also required to offset the increase in prices in order for consumers to afford goods; while an increase in prices is required to offset the increase in wages that management must pay. It gets to be real ugly real quick.

There was an editorial in the WSJ around 2006 where the author suggested that the government hand out checks for around $130,000 each; don't recall all the details, but the scheme is a stimulus plan writ large, and would probably be more effective (and less inflationary) at the lower number.

Well, now I'm really confused. I was under the impression that it has been decided, once and for all, that the economy benefits when the government injects cash into it. Following that model, it would stand to reason that if even more cash were injected, an even greater stimulation of the economy would result. Do you not agree?

January 7, 2009

Let's go for it. I would immediately buy a medical doctor!

Mike O

(and another bike)

I'm shopping for a private island. And, another bike.

January 7, 2009

If it came from the government it would have strings attached.

I don't want it. I can prolly make more money sellin stuff to the peeps that got the mil.

:thumbsup:

January 7, 2009

If it came from the government it would have strings attached.

I don't want it. I can prolly make more money sellin stuff to the peeps that got the mil.

most sensible comment so far.

January 7, 2009

If it came from the government it would have strings attached.

I don't want it. I can prolly make more money sellin stuff to the peeps that got the mil.

most sensible comment so far.

Dang. You beat me to it.

Ablooly. If everyone's got a mil, and I can wrangle just $1 out of each one, lessee, 300 million people, carry the 4, deduct the mortgage interest, add the depreciation. . .yup, $297,484,916. I'm with Whip. In fact, if we each had that kind of money, we could buy us a couple of senate seats and get in there and start fixing this mess. Or maybe we'd rather have some REAL power and buy us a couple of TV networks full of so-called news reporting. Yeah, that's the ticket.

January 7, 2009

Well, now I'm really confused. I was under the impression that it has been decided, once and for all, that the economy benefits when the government injects cash into it. Following that model, it would stand to reason that if even more cash were injected, an even greater stimulation of the economy would result. Do you not agree?

Actually that very issue was the context of some discussion on the most recent direct stimulus package. When is too much so much that it triggers hyper-inflation? There’s a line somewhere that nobody knows for sure, but it’s probably well below $1M per person. In other words there really is such thing as too much of a good thing. Subjective logic would lead me to speculate it’s somewhere around ½ a person’s annual salary. Enough to have a short-term positive effect on the economy, and would create some tolerable level inflation, but not enough to cause the majority of people to quit their jobs, fuel Zimbabwe-like inflation, etc.

My belief that the current system can’t be salvaged aside, when I think about your idea hypothetically for a second, why not index it somehow to a persons past earnings? Seems like doing so would fit within the capitalist efforts/rewards model. Put money in the hands of people stereotypically considered responsible, contributors, keep the stimulus in the same range of their current lifestyle model. Keep it out of the hands of people stereotypically consider irresponsible, e.g. crack addicts. The only question would be do you floor and ceiling it? E.g. – a minimum amount to assist the very poor who need it the most and a maximum amount to the very wealthy who need it the least?

January 7, 2009

When they send out these rebates, they say it's for the purpose of stimulating the economy. Presumably, they want people to spend the rebate on "stuff" and not pay bills or save it. Instead of sending people checks, why don't they send people credit cards that expire in 30 days that can only be used to buy "stuff?" (I realize there would probably be a lot of ways to cheat, and convert your "stuff" to cash, but probably a lot more of the rebate would be spent on "stuff" than would be the case if checks are sent out).

January 7, 2009

Steve,

This is a variant of a crime package I've advocated for years.

Allow people to choose to be criminals.

Provide free apartment, public transport, and some other perks.

Provide each registrant w/$25,000, tax free, every year.

Offer good for lifetime, or until violation of conditions spelled out in the original agreement. (covictions etc.)

This would make the world safer and cost society less $$$ in the short and long run.

BTW, I got my $1,000,000.00.

Do you, or Marty, have change?

January 7, 2009

..... who would wait on us in restaurants, who would do our dry cleaning, who would deliver our mail, who would clean our homes, who would work at Wal Mart?

Excellent point but there is a very simple solution, Anyone working in the dry cleaning, mail delivery or WalMart'ing industries don't get the million. Also, anyone providing any useful service would have to be exempt from receiving a dime as well.

That leaves only those who are totally useless to society to receive the money. That would include retirees (me..which is why this system works), the Wall Street gang, and politicians as pretty much the only ones who would get the dough. Helps with the inflation problem as well.

January 7, 2009

That leaves only those who are totally useless to society to receive the money. That would include retirees (me..which is why this system works), the Wall Street gang, and politicians as pretty much the only ones who would get the dough. Helps with the inflation problem as well.

In other words - the current model.

January 7, 2009

That leaves only those who are totally useless to society to receive the money. That would include retirees (me..which is why this system works), the Wall Street gang, and politicians as pretty much the only ones who would get the dough. Helps with the inflation problem as well.

In other words - the current model in Old Europe, Mexico, Russia and all the other socialist countries.

Fixed it for ya.....

January 8, 2009

Do you, or Marty, have change?

Tim, do you accept these:

January 8, 2009

Alright, alright! After re-reading some of the posts, it seems that I may be being unrealistic about the million dollar part. You all are probably right about the rampant inflation, and it would probably upset the world markets AND put Walmart out of business. So, that being considered, let's set our sights on a much more reasonable number of say $750,000 each.

I think we can all agree that this is a good deal especially considering this action reduces the budget by 25%. Hey, that's a 75 trillion dollar cut in government spending, which is a lot more savings than anyone in Washington is proposing.

Hmmm, this is crazy enough that it just might work.

January 8, 2009

Oh hell, now I have to downsize. Steve, you spoiled my whole plan. :dopeslap:

Signing off for a week/back next thrusday night.

January 8, 2009

Have fun, Marty! Practice your Spanish? :wave:

January 8, 2009

In fact, if we each had that kind of money, we could buy us a couple of senate seats and get in there and start fixing this mess...

:rofl:

January 8, 2009

No, no. The true way to solve this problem without hyperinflation is to give the money to JUST ONE PERSON - Me! I promise to spend it on stuff. Lots of stuff. the rest of you will benefit from the trickle down. trust me.

Sign In

A million dollars each...

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