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What if they gave every tax payer from 2006 1 million dollars?

I was listening to the radio the other day and a caller asked this question. his thought was that if they gave every tax payer from 2006 1 million dollars that this would stimulate the economy. His thought was that it would help people pay for things and it would not be taxed by the Fedreal Government, although State Governments could tax it.
If you filled a joint return then you would get 2 million. If given the totally amount would be around 200 billion dollars.

So do you think this is a good way to stimulate the economy?

Answer Question
 
cornflakegirl3

Asked by cornflakegirl3 at 3:33 PM on Feb. 10, 2009 in Just for Fun

Level 23 (16,391 Credits)
Answers (9)
  • Prices would skyrocket. It wouldn't work and we would be in even deeper than before.
    JeremysMom

    Answer by JeremysMom at 3:34 PM on Feb. 10, 2009

  • Probably wouldnt work but I like the idea.

    If I had it, bills would be paid off and I could keep my car.
    BonesDragonDew

    Answer by BonesDragonDew at 3:35 PM on Feb. 10, 2009

  • Well it would be awesome, but in reality would never work. Face it, a lot of people are not responsible with their money, and might go out and buy things they couldn't afford in the long run and blow it and end up in a even worse mess than before. And as a pp said prices all over would soar for everything.
    WishyClarkson

    Answer by WishyClarkson at 3:37 PM on Feb. 10, 2009

  • if they froze the econmy first, so nothing could go higher than it already is, yeah, it would work. i think half a mil would work better though, it's not enough to quit working, but it is enough to pay off most of your bills and put some away fro a rainy day
    bi-polarmommy

    Answer by bi-polarmommy at 3:39 PM on Feb. 10, 2009

  • it reminds me of germany in WW2 ... the more money in circulation the lower our dollar value is after awhile money starts to mean nothing... how about 1 thousand instead of 1 million, the government shouldn't be responisible for giving me money to pay off my debts, i ashould have just been more responsible.
    Anonymous

    Answer by Anonymous at 4:27 PM on Feb. 10, 2009

  • I could live with that! I'd be able to pay off my debts, then I'd go out and spend money on a nice vacation (haven't had one in forever!) and buy some new stuff for my house, heck, maybe I'd even buy a bit bigger house!
    PSMother

    Answer by PSMother at 7:50 PM on Feb. 10, 2009

  • I wouldn't accept it. We would be expected to pay it all back one way or another and I would rather not deal with that. Besides, I would rather earn what I get instead of getting it for free and wondering if there was a catch to it. And where on earth would our government get that kind of money when they are trillions of dollars in debt already?
    Now, if they created more jobs for ordinary people then that would stimulate the economy a whole lot better!
    PrydferthMenyw

    Answer by PrydferthMenyw at 7:21 AM on Feb. 11, 2009

  • I think a million is too much, but maybe ten thousand...or something along those lines. I would rather see the people being given some money instead of billions of dollars for a war (Iraq) that should never have happened in the first place.
    summerdayz

    Answer by summerdayz at 8:02 AM on Feb. 11, 2009

  • It would cost a lot more than that.
    We have 300 million people in this country.
    If 1/2 of those qualified as taxpayers (excluding children/ retirees, etc.) it would cost
    $150,000,000,000,000 or $150 TRILLION.

    Nice idea, but it's a dream. Wouldn't work, and would cost too much. Part of the problem is that the government is broke - has been in the red for most of the last administration. Paid for a war they couldn't afford, and got ripped off by Haliburton and others due to poor stewardship of taxpayer dollars. We can't afford it.
    3gymnastsmom

    Answer by 3gymnastsmom at 8:02 AM on Feb. 11, 2009

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