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waht do you think of this idea my mother had?

she said that if we took the bail out money that is expected to be going to help with the buy outs is something like 14trillion dollars. ok today i saw that it was more like 8.5 either way my mom was saying at dinner that instead of taking the money to bail out these companies with all that money why not divide all that money to each adult citizen in the US equally and then pay back as a tax half that so really we get 200k that would come out to somewhere around 400k per each since there is about 14 million citizens in the US and she said think of what the citizens would do with that kind of money in one lump sum. wouldn't they be buying, investing and helping pay into this weakened economy. it's really the citizens that determine how wealthy our nation is but when we suffer the country suffers....so i thought i liked this idea.

 
melody77

Asked by melody77 at 2:05 PM on Nov. 26, 2008 in Politics & Current Events

Level 18 (5,435 Credits)
This question is closed.
Answers (12)
  • those millionairs deserve to have their ball$ squeezed in a vice. they are the ones making $$$$ while their companys suffers!
    Anonymous

    Answer by Anonymous at 3:54 PM on Nov. 26, 2008

  • I totally agree, it's like the conversation yesterday. People were talking about how the media was trying to make us feeling bad by "hoarding our money." That the "hoarding" was hurting the economy. Well hows that for a stimulus check. Something that would actually stimulate it
    Anonymous

    Answer by Anonymous at 2:11 PM on Nov. 26, 2008

  • Girl, I don't know. I get so confused with all this talk. I am just so glad they don't call me and ask my opinion. I am also glad I am not in control of anything to do with this. Your mom's idea sounds good to me, but of course anything that seems logical usually is not the way things are done.
    pupmom

    Answer by pupmom at 2:12 PM on Nov. 26, 2008

  • I know what I would do with 200K! Down payment on a house, a new car, pay OFF all my bills, and get my teeth fixed. Maybe even take a little vacation.

    Hand it over government! I'll help stimulate the economy! lol.
    Xynyth

    Answer by Xynyth at 2:44 PM on Nov. 26, 2008

  • I have heard this idea before and I would love to get that kind of money to pay off my house and feel secure...But given the way people manage their money in general it would probably be a disaster. Everyone would probably wind up in more debt within a couple of years. Everyone would suddenly need bigger houses, fancier cars, more vacations, expensive clothes, etc. until the money runs out. It would be nice, but I doubt it would work.
    BJoan

    Answer by BJoan at 4:14 PM on Nov. 26, 2008

  • I think it is a good idea but one that will never happen. The bailouts are a bad idea from the gitgo and has not solved a thing. We, the ones that spend, still don't have the funds to go out and shop, shop, shop. The big wigs are not going to do a thing to better the economy. That money will get sucked up for some ridiculous reason and we will still be struggling and the government will still be reassuring us on a daily basis that things are good. No depression headed our way!!!!!
    foreverb3

    Answer by foreverb3 at 5:14 PM on Nov. 26, 2008

  • Her math is WAY, WAY off.
    The bailouts - assuming the second one goes through - will total about 1.6 Trillion. Not 14 Trillion.
    There are approximately 300 million people in the US (based on US Census data).
    1.8 Trillion / 300 Million gives about $5200 per person. Not 400,000 or even 200,000 per person.

    Even assuming her base numbers are correct, a bailout of 14 Trillion (nearly 3 times larger than the current national debt) would give each person $46,000. If your number of 8.5 Trillion is correct (nearly double the current national debt), each person would get 28,000.
    kaycee14

    Answer by kaycee14 at 5:35 PM on Nov. 26, 2008

  • While these still sound wonderful and lots of people will have pipe dreams to blow it all on - try to step back and think of the damage that a national debt of over 20 Trillion (or even 12 Trillion) dollars would do to our country.
    Where do you think this money comes from? Does the government just wave a wand and it magically appears? Do they just print more? No and no. They sell bonds to foreign investors and foreign governments, lately that's been China.
    How "tough" do you think our government can be about imports from these countries or other international issues when these countries pretty much own us? And for what - so we can go blow more money on useless crap, fancy trips, and gourmet kitchens? Think about. And may our great-great-great-grandchildren thank us instead of cursing us.

    kaycee14

    Answer by kaycee14 at 5:36 PM on Nov. 26, 2008

  • My husband said that too! We could really stimulate the economy better that way! All of the banks would get out of trouble better this way because we could all pay off our mortgages....then there wouldn't be anymore defaults, duh!
    slw123

    Answer by slw123 at 6:05 PM on Nov. 26, 2008

  • I'm a finance major and I gotta go with kaycee14 on this one. During the civil war, the South kept printing more and more money to try to get their economy off the ground. All it did was devalue the currency. 46000 wouldn't sound like much if it cost 12000 for a cup of coffee and 50000 for a pair of shoes! But I gotta say, this golden parachute concept had better go by the wayside or we are in for some serious economic hurt. At my job, if you don't perform, you don't get paid your regular wage, let alone a million dollar bonus!
    plylerjones

    Answer by plylerjones at 7:03 PM on Nov. 26, 2008