This bailout would help the economy more than any other bailout.
jmski52
Posts: 22,822 ✭✭✭✭✭
Let's assume the US has a population of 300,000,000 (300 million). Have the Fed send out $3,000,000,000,000 ($3 Trillion) free bailout money to every US citizen.
This amounts to $10,000 per US citizen.
The rich wouldn't spend theirs, but lots of other people would use it in different ways. The poor would use it to survive. The irresponsible would blow it. The middle class would probably spend it. The rich would bank it or invest it.
It would probably jumpstart the economy, albeit with a temporary bump to consumption. However, it would be more effective than Pelosi's dumb comment that handouts to the poor boost the economy by stimulating consumption.
I don't see how it would be any more of a waste than the last $3,000,000,000,000 that the government spent.
It wouldn't solve poverty. It wouldn't improve education. It wouldn't make the rich any richer. But it would get people talking.
The only little glitch is that "debt thing".
This amounts to $10,000 per US citizen.
The rich wouldn't spend theirs, but lots of other people would use it in different ways. The poor would use it to survive. The irresponsible would blow it. The middle class would probably spend it. The rich would bank it or invest it.
It would probably jumpstart the economy, albeit with a temporary bump to consumption. However, it would be more effective than Pelosi's dumb comment that handouts to the poor boost the economy by stimulating consumption.
I don't see how it would be any more of a waste than the last $3,000,000,000,000 that the government spent.
It wouldn't solve poverty. It wouldn't improve education. It wouldn't make the rich any richer. But it would get people talking.
The only little glitch is that "debt thing".
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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The cure is to stimulate production with less interference, reduce debt (personal and soverign by raisng interest rates), reward savings (higher interest rates), seperate banks from their gambling (derivatives), seperate lobbyists from politicians (corruption), and seperate investment houses from banks by returning to Glass-Steagal. Regulation can be a good thing when it is correctly targeted, limited to necessity and strictly enforced.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Let's assume the US has a population of 300,000,000 (300 million). Have the Fed send out $3,000,000,000,000 ($3 Trillion) free bailout money to every US citizen.
This amounts to $10,000 per US citizen.
The rich wouldn't spend theirs, but lots of other people would use it in different ways. The poor would use it to survive. The irresponsible would blow it. The middle class would probably spend it. The rich would bank it or invest it.
It would probably jumpstart the economy, albeit with a temporary bump to consumption. However, it would be more effective than Pelosi's dumb comment that handouts to the poor boost the economy by stimulating consumption.
I don't see how it would be any more of a waste than the last $3,000,000,000,000 that the government spent.
It wouldn't solve poverty. It wouldn't improve education. It wouldn't make the rich any richer. But it would get people talking.
The only little glitch is that "debt thing".
Are you a Democrat?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
No, I only stated that my bailout plan would work better. I didn't say it was a fine idea.
I knew it would happen.
<< <i>Are you a Democrat? >>
Let's leave politics out of it especially since they are all big spenders - just on different things.
Savings and debt are polar opposites. My small economy is flourishing because at the end of the year I have increased my savings and reducted my debt. This does not come without sacrifice as I am required to live within my means.
Current national economic policy prefers the opposite and is supported by their actions to reward debt and punish savings. Keep in mind that unsustainable debt is what got us where we are, both personally and as a nation. Until the belt gets tightened by our policy makers and government spenders (and it will create temporary hardship) we are doomed to continued, national economic instability. But first, we must learn to individually take responsibility of our own personal debt and our own failure to save.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Just give everyone $25k and all is fixed. Thats 100k for a family of 4. That goes a long way towards solving the housing crisis.
But better to just give the banks--they are much better at squandering it.
There would be a massive inflationary boost, but thats ok as we all own gold and stocks so would be offset.
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Congress is already doing that. And to the banks. The only ones not in on the sweepstakes seem to be the middle class taxpayers.
I knew it would happen.
<< <i>giving what eventually amounts to tax dollars to non taxpayers (and there are a lot of them) throws the debt on those that do pay taxes. Terrible idea.
Congress is already doing that. And to the banks. The only ones not in on the sweepstakes seem to be the middle class taxpayers. >>
I should have said "giving more tax dollars. . ."
Middle class IS in on the sweepstakes, they are footing the bill.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Forget bailing anyone out. Start the WPA and CCC type work programs immediately to repair/replace our degraded infrastructure. If you want to bail something out, start at home and have something to show for it when it is done. Handing out my and every other working stiffs money to strengthen the economy is BS. Put people to work and unless they are certified as infirm or over retirement age, there is no more unemployment or food stamps or bailing out. If they have kids and have to take care of them, get some day care centers started immediately, find the fathers for the single parent households and get them on the hook for child support to pay for the day care and make sure they are in the work camp before they get another gov nickel. Stop screwing around, we could have the whole thing in place in 90 days if anyone has the oysters to pull the trigger. Get everyone contributing to the SS and the IRS and stop the mealey mouthed feel good words stuff and put this thing in drive. What we are being fed as some kind of policy to get jobs going and the economy growing is total drivel and somehow folk are going to have to call BS so let me be the first...BS. >>
Liberty: Parent of Science & Industry
<< <i>Forget bailing anyone out. Start the WPA and CCC type work programs immediately to repair/replace our degraded infrastructure. If you want to bail something out, start at home and have something to show for it when it is done. Handing out my and every other working stiffs money to strengthen the economy is BS. Put people to work and unless they are certified as infirm or over retirement age, there is no more unemployment or food stamps or bailing out. If they have kids and have to take care of them, get some day care centers started immediately, find the fathers for the single parent households and get them on the hook for child support to pay for the day care and make sure they are in the work camp before they get another gov nickel. Stop screwing around, we could have the whole thing in place in 90 days if anyone has the oysters to pull the trigger. Get everyone contributing to the SS and the IRS and stop the mealey mouthed feel good words stuff and put this thing in drive. What we are being fed as some kind of policy to get jobs going and the economy growing is total drivel and somehow folk are going to have to call BS so let me be the first...BS. >>
Well of course, but I want smoe free dough!!!
Knowledge is the enemy of fear
Besides being a taxpayer in order to get the bailout, I think you should also be a taxpayer in order to qualify to vote. It's been discussed before and it's still a great idea.
I knew it would happen.
<< <i>Take that $3T and divide it equally among those who filed a tax return the previous year. >>
divide it proportionately among those who paid a tax the previous year
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Take that $3T and divide it equally among those who filed a tax return the previous year. >>
divide it proportionately among those who paid a tax the previous year >>
And the majority of those people would simply put the money away and not spend it. In the meantime the poor get poorer. Dont get me wrong, I am NOT for redistribution of wealth, but I have heard very few viable options that wouldnt place further strains on the economy.
Knowledge is the enemy of fear
Most of us here probably agree the U S Constitution is the finest written document for free people.
Let's not complicate matters, get back to basics, which is enforce the law and enforce sound economic policies.
Unfortunately, the con-men, evil corrupt individuals, and power hungry men continue to manipulate laws and our econnomy for their power.
The latest attack of power grabbing is the talk of amnesty for illegal young persons brought to this country by their parents. NO AMENSITY til our borders are secured!!!!!! This law/policy will only encourage more illegal immigration. Some in government have said we need to show how caring and kind this country is, what a line of BS.
SECURE THE BORDERS FIRST, THEN DEVELOP SOUND POLICIES TO DEAL WITH ILLIGAL IMMIGRANTS! Write your government representatives.
Freedom is a right given by our Constitution, and when free men stand up for these rights, change will occur.