My plan to stimulate the economy....give every middle class and lower class taxpayer 500 thousand

[greenbriar]

I would pay off my student loans, my mortgage first


then I would buy a new washer/dryer...the front loaders

I would remodel my house

I would buy a new car

I would get a much needed wardrobe upgrade


I would go on vacations

ect...


that is what most people would do...


that my friends would stimulate the economy more than bailing out fat cats

[JuniperLea]

1. Trickle up!

Tickle down didn't work at all, but I'll bet you dimes to donuts trickle up would work just fine!

[greenbriar]

4. oh my god, would it ever

this country would not be able to keep up with the demand if we had the means to buy what we really wanted

[Earth_First]

2. "I would pay off my student loans, my mortgage first"

This right here is why they keep us where we're at.

[Sarah Ibarruri]

3. The economy would be back on track. Seriously. But not for long if they don't

implement serious corporate regulations.

[JuniperLea]

6. Indeed... they need to put back all those safeguards...

And regulations!

[intheflow]

30. But it would stave off disaster long enough

until the election's over and Obama's team could overhaul the banking regulations. :)

[Sarah Ibarruri]

54. Exactly! nt

[SammyWinstonJack]

5. Yeah well we don't matter. They don't really want to stimulate our economy. They've all gone

global on us and we don't matter anymore.

[JuniperLea]

7. That's why they want the bailout...

Because the global economy is suffering now. It's no surprise to me this bailout was proposed just before two European banks failed.

[SammyWinstonJack]

8. Probably so. And we still don't matter, unless they need us to bail them out. Otherwise,

we can all go pound sand.

[earth mom]

9. This is the plan my hubby was saying he wants too.

Sounds like a plan. :toast:

[Hawkeye-X]

10. Pay off my debts, create more jobs by hiring someone

to completely renovate the house. Put some money in a safe investment...

Hawkeye-X

[PeaceNikki]

100. Who you gonna hire when everybody just got a cool half-mil?

:shrug:

In fact, who's gonna be working retail to sell the OP her shiny new washer and dryer?

[pnutbutr]

11. :rofl:

Do you have any idea how much the government would have to hand out and how fast inflation would skyrocket making it worthless. Combine that with doing nothing about the banks and credit problem and you have a container ship full of stupidity :rofl:

[JuniperLea]

17. Bush just dumped $630 billion into the financial system...

Maverick that he is. Now we'll see who is riding a ship of stupidity.

Laugh it up... he/she who laughs last, and all that.

[pnutbutr]

26. congressional approved spending bill

for the pentagon. What does this have to do with giving $500k to millions of eligible people? $700 billion would only cover 1.4 million people.

[JuniperLea]

32. No, it was to support the global financial system...

http://www.bloomberg.com/apps/news?pid=20601087&sid=a9MTZEgukPLY&refer=home

Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone.

``Today's blast of term liquidity will settle the funding markets down, and allow trust to slowly be restored between borrowers and lenders,'' said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. On the other hand, ``the Fed's balance sheet is about to explode.''




That said, the $500k is a bit much, but if you lowered that to $25k, it would help greatly and "trickle up" anyway.

[pnutbutr]

43. oh, good

someone has a bit of sense.

$25k would only go to 28 million people and still wouldn't help the banks resume lending or provide credit to keep the economy working.

[JuniperLea]

47. The economy is dead in the water anyway...

Your insults won't change that. It's going to take a long while before this is all fixed. Keeping people from starving to death, or dying out in the cold this winter is a far better cause than helping the fat cats at the top. Trickle down never worked. Trickle up always does.

[pnutbutr]

55. you still don't get it

Doing nothing is what will cause the major problems and this bailout is not to help fatcats. It's to restart the economy so that it helps everyone. It's not about trickle down at all. The banks need money to provide credit which is how the US monetary system and economy work. Instead of continuing to spout nonsense, go read about it. Fiat money.

[JuniperLea]

64. I have an NASD securities license...

And I have worked in the financial area for years. You appear to be the one who needs to study up. Keep in mind the tranches were a joke... they could have taken the entire sum at signing... have you read anything on the bill at all?

[pnutbutr]

69. oh

Then I must admit that I am wrong. Your experience in the financial area trumps my nonexistant experience in the financial area.

[shadowknows69]

23. How would there still be bank and credit problems

If everyone was able to pay off the bad debt?

[pnutbutr]

28. defaulted

There are tons of already defaulted loans which are the problem. The foreclosures that have already happened. :eyes:

[Name removed]

25. Deleted message

Message removed by moderator. Click here to review the message board rules.

[pnutbutr]

31. RW freak?

Yeah, you got me pegged. It's me who doesn't understand the US monetary system and why we need to provide money to the banks in order to bring back credit, lending and confidence. Maybe try reading about fiat money to see why this is necessary to keep our economy going instead of repeating the ignorant bull you get from invisible faces on the internet.

[JuniperLea]

49. Do you honestly think insulting people is doing any good? eom

[pnutbutr]

59. I didn't insult

I called it ignorant bull. Nothing about you personally was said.

[Dr Fate]

29. What credit problem would exist if the middle class was bailed out?

You say the credit problem would still exist- I thought the OP suggested that middle-class & working poor people in debt would be bailed out- thus not having a credit problem anymore.

How much would the govt. have to "hand out" to middle-class taxpayers instead of handing it out to millionare bankers?

How about we start with a nice round number like $700 billion total- does that sound like a fair amount?

But seriously-I'm sure the OP was being somewhat tounge & cheek- but I'm not sure if the general idea is all that stupid just b/c you say so.

Bail out the middle class people first, and then they remain consumers, continuing to buy things from corporations owned by millionares-they can pay off their mortgages to the millionare owned banks, etc,etc.

Sounds like a WIN-WIN to me...

I trust the middle class to let their money "trickle up" a lot more than I trust these Wall Street guys to let their money trickle down.

[pnutbutr]

the banks

have the credit problem. The US monetary system runs on the availability of credit. If the banks have no money, credit does not exist and the economy fails.

It's not just about helping the banks recoup the money from the defaults that have already occurred, it's also about helping those about to default now. The bailout bill would have required the banks to renegociate loans for those currently in trouble.

[Dr Fate]

51. The banks? I thought banks were owned by millionares & billionares.

Any money they need, I'm sure they can find it in their personal funds.

When my business was failing, I had to pay expenses from my personal funds. There was no "bail out" offered. Maybe those bankers should give this radical solution a try.

Are they down to $15 or $20 bucks or something- or do they have literally millions (billions?) of dollars in their accounts?

If that doesnt work, then tax them in such proportions while relieving the middle class. Let the taxes of the top %1 pay for it.

As far as helping Tax payers resolve mortgages & defaults, I'm all for giving the relief directly to them so they can do so. Why does their relief have to "trickle" through the hands of millionare bankers first?

A bill that would have required the banks to renegociate loans for those currently in trouble is fine by me- I would be for that. That can be done w/o giving $700 Billion to millionare & billionare bankers as well.

I can see plenty of ways to look at this besides going with what Bush wants. Bush is wrong a lot, in case you havent noticed.

[pnutbutr]

61. fiat money

go read about it and get back to me when you understand how the US monetary system and economy works.

[JuniperLea]

65. Going off the gold standard is part of the problem...

Dumping fiat money into the system CAUSES INFLATION!

[Dr Fate]

70. So you cant tell me why millionare & billionare bankers cant come up with $700 Billion, can you?

I dont need to read a fancy book to figure that out- I know they have the money. I know we could tax them for it to.

I know exactly how it works-They have the money, they just think that they can get chumps like me to pay for it instead.

I'm not going to read a book about why millionares need more of my money and neither are most voters- telling people "you dont understand how it works-but you need to hand your money over to the millionares anyway" isnt exactly the best way to make your case- but it may be all you have.

If the financial community needs $700 Billion dollars so bad, then their members should persoanly sell a few yachts and empty a few spare accounts and pool it together. I'm sure they can find it somewhere.

That, or we could just tax them for the whole $700 Billion.

Anything but taking it from me- I'm already paying enough for the multi-billion dollar war those same millionares wanted as it is.

[SammyWinstonJack]

33. Stupid is as stupid does. I find you amusing.

:silly:

[JuniperLea]

50. I wish I could laugh...

That one's insults are getting out of hand.

[pnutbutr]

63. Didn't

I didn't insult you. :eyes:

[JuniperLea]

76. news flash

your sarcasm is fucking insulting.

[vanderBeth]

12. What would I do with that?

:shrug:

[Bluebear]

20. Forward it to me, I will spend it wisely. :)

[vanderBeth]

24. Damn it. I hated this thread, but you made me laugh.

Thanks. :rofl:

[Dr Fate]

13. Me too-I would buy lotsa corporate crap and gadgets-then the money would trickle up to them!

It would provide jobs and would promote consumerism.

Republican owned corporations would rake in the dough!

WIN-WIN!

The only real problem with your plan is none of us have a lobbyist who gives gazillions of dollars to DEMS or Republicans, therefore it will never happen.

No, we will eventually have to turn more of our tax money over to millionare & billionare bankers- the only question is when & how much.

[ColbertWatcher]

14. How about this idea?

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4116071&mesg_id=4116071

[bobbolink]

15. Would it rate with liberals to give seriously POOR folk the money...

so many we could just SURVIVE????

Would that count?

[AnOhioan]

16. Hell, I settle for 50K...that would about handle all my debt.....

plus leave some over for purchases.

[morillon]

18. $700B would only cover 1.4M people for $500K. n/t

[JuniperLea]

21. Ok, so $100k then

Or $50k... shit, how about $25k? It would work the same.

[Realityhack]

44. Yes it would cause unbelievable inflation and screw us all.

Seriously. Take an economics class or something.

[JuniperLea]

53. I have a securities license... I think I know a little something about this...

Take a charm school class or something.

[Realityhack]

81. So you agree giving 500k to most families would lead to rampant inflation?

Or did you actually have some other point.

[Dr Fate]

99. Okay- then what amount do you think would be fair to "bail out" struggling families?

$5000?

$2000?

Another $600?

It would barely put a dent in my debt, but it would be a start.

If we divided $700 Billion or so amongst small businesses, mortgagors ,families in debt, etc- what would be in proportion to $700 billion divided up amoung banking firms that are owned by by people who are literally millionares & billionares?

[Realityhack]

104. I don't think you understand the bailout bill at all. n/t

[Dr Fate]

111. I dont think you know how to explain why Billionare bankers cant raise $700 Billion on their own.

Like regular people have to do when THEIR businesses fail.

No one ever gives us a free bail out and lets us keep all our cash & property- I do understand that much.

[JuniperLea]

116. Taking the $700billion on credit... or distributing funny money that isn't based in reality

Would add to the debt and to inflation. The problem is that people are hurting and this bill as it stand does nothing to help people. It does nothing to stop foreclosures.

I'm saying it is far better, if the government is going to create inflation with this action, to give the money to "we the people" and let us spend it to get out of debt and to purchase items we've been putting off. That would stimulate the economy... unlike trickle down Reaganomics.

[Realityhack]

52. at 50k that is 14million.... do you even know the US population? n/t

[JuniperLea]

56. Yes, I do...

I'm talking households here... jeez... get a grip... if you tried as hard to understand people as much as you tried to insult, you might learn something.

[Initech]

19. Would translate to abou $275K after taxes. Still I'd take it!

[Bluebear]

22. Tax free! We will get the same loopholes that offshore fatcat companies get!

[Initech]

68. Even better!!

:toast:

[MNDemNY]

27. Do that, and inflation would skyrocket, youd be paying $40 for a gallon of milk.

[intheflow]

35. Why couldn't they write a price freeze into the authorization?

That would take care of inflation.

[Dr Fate]

41. Because that would be "socialism" & would make us dependent on the government- errrr- wait...

Socialism & welfare for millionare & billionare bankers is good- but a break for the little guy is not-I forgot.

[Dr Fate]

37. As long as millionares hold the bail-out cash, no one will drive up milk prices.

But as soon as we shift the money to the middle class, the expenses associated with milk production will go up?

I'm not sure why shifting the bail out money to the hands of different people would cause milk producers's expenses to go up, or cause their profits to go down.

Why would it? Cant milk produces make the same amount, or even more profit if they kept the prices the same-with even more consumers than ever buying milk products?

Are you saying that Republican owned milk companies would drive up the prices out of spite, or are you saying that giving the money to millionares would keep their expenses down & profits up?

In any event, I'd be fine with capping milk prices before I would be fine with giving $700 BILLION to millionares & billionares.

I'm not saying the OP is 100% correct- I'm saying i would support a "trickle up" plan where the middle class & small businesses are the ones getting the bail out- not millionares who already have plenty of cash...

[Realityhack]

48. First off that isn't a shift. It is a massive increase in the amount spent.

Secondly... Yes that is how inflation would work.

This idea is devoid of any understanding of how markets work.

[Dr Fate]

67. So milk making expenses would rise, while milk profits would go down.

More people buying more milk would lower their profits and cause more expenses, so they would be forced to raise milk prices to stay in business?

I dont get it.

Besides- I'd rather cap milk prices than give millionares & billionares more of my money.

I guess we all have to be poor & keep giving money to millionares so that we can buy cheap milk.

I dont understand- I thought that when consumers had more money that they were willing to spend in the market, everyone was better off- interesting that it doesnt really work that way.

I guess you are saying that our system only works if a handful of millionares & billionares control most of our cash.

[Realityhack]

82. No that isn't what I said. It is a blatant straw man.

However, handing out massive amounts of money does wreck an economy quite quickly.

[Dr Fate]

85. "Handing out money" wrecks the economy? Then we better not "hand out" $700 BILLION to millionares.

I'm in debt for about $80K, but I'll take whatever crumbs I can get.

i would probably hand it straight over to the debt collector- would that make milk prices rise?

What if I get a "hand out" for say, $5K- is that too greedy?

Oh- I forgot- I'm not a multi-gazillionare with a Rolex watch and a Lexus, so you dont support bailing me out.

Oh well, at least I can bail out some millionares & billionares with my tax dollars & then maybe they will trickle on me on something.

[Realityhack]

92. "Oh- I forgot- I'm not a multi-gazillionare" Stop the straw men. Seriously.

Unfortunately, yes. Handing out massive amounts of money across the market causes problems.

When did we get down to 5k? This thread started at 500k. That is a massive difference.

The bailout is not about giving money to gazilioneers. It is about stabilizing the market.

I know full well it needs to be coupled with appropriate regulatory reforms and oversite. But the idea that this just benefits the uber rich is nonsense.

[Dr Fate]

97. What would be wrong with making it $5K for arguments sake? I need a bail out.

If millionares & billinares need $700 Billion, then they should pool all their money together and come up with $700 Billion bucks.

When my family's business failed, no one offered us a bail out- I had to go in my personal funds to pay off my debts.

Are we really saying that these billionares & millionares cant come up with this money without asking me & you for it? I'll bet we could tax it out of them.

Why cant *I* get a bail out- what if the $700 Billion you want me to give to the millionares & billionares doesnt "trickle down" on me?

I've been waiting 8 years & havent felt any trickling yet- why is it going to happen now?

Call it "strawmen" all you want. I need a bail out, and giving $700 billion to people who already have that kind of money isnt going to relieve my debt.

Only a nice bailout package would do that. I'm willing to take a mere fraction (lets say $5K fopr arguments sake) of what some want to give to millionares & billionares.

[Realityhack]

103. I don't think you understand the 'bail out' plan at all.

Maybe you can describe how the credit market works for us. And show how much the proposed legislation would cost on say a 5 year scale.

Calm down. Seriously take some deep breaths.

I understand average people like you and me could use a bailout or stimulus package. I also understand that we will need it a whole fuckload more if the credit market completely freezes up, because we will probably both be out of work.

[Dr Fate]

107. You are right- I dont understand why millionare bankers need $700 Billion more of my tax money.

No millionares or billionares ever gave me their tax money when my family's business went sour. Fair is fair, right?

No, we were told to "pull ourselves up by our boot-straps"- I had to sell personal belongings and use my persoanl funds- there was no "bail out." Not even a mention of one.


You are right- I fail to see why millionares & billionares cant sell their Rolex watches, yahcts, mansions and oil wells-or just go into their personal savings and bail themsleves out- you know, like regular people are forced to do everyday.

If these Republican billionares & millionares are too stubborn to collect the $700 billion amount amongst themselves (holding out for ME to pay for it instead)- then we could just tax the millionares & billionares for $700 Billion. I'd be for that.

Didnt I already give these millionares & billionares several BILLION dollars so they could have investments in a war over in Iraq? Why cant they put their Iraq money towards the $700 Billion they say they need me to give them? Where do the hand-outs to billionares end?

How much would a plan I would agree with cost? I dont know- let's say it would cost somewhere around $700 Billion at this point.

You want middle class Joes to "calm down" prove to you that they know how the credit market works? That's a funny gotcha, I guess, but it doesnt make people support this bill or Trust Bush's plan. And unless you tell me different, I will still be in debt when it passes- no "bail out" for me.

Seems like you guys are the ones who need to exaplain how this "bail out" is going to reduce or eliminate my debt, rather than just telling me how I dont understand why I need to give money to millionare bankers...

I'm perfectly calm and breathing just fine- it seems you now have to paint me as being excited rather than explain to me why billionares & millionares cant seem to come up with $700Billion without asking me for it.

[MNDemNY]

71. I, too, would like to see a "trickle;e up" plan, but

just handing out such large wads of cash would be unproductive in even the short run. Targeted assistance to home-owners, renters, and small businesses would be more in line.

[Dr Fate]

88. I'm all for that. I assumed the OP was being outrageous to make a point.

I assumed the OP used the $500K amount to demonstrate the volume of money being given out.

I agree with you that this fantasy middle-class bail out that will never happen would target those who needed it most.

[Realityhack]

93. I am not at all sure the OP was intentionally exaggerating. n/t

[Dr Fate]

98. But for arguments sake, I'd rather give a few thousand bucks to struggling people in debt.

Than give it to people who can already pool together that kind of cash.

If millionares & billionares need $700 Billion dollars to save their business- then they should do what ordinary people do when their businesses fail- take the funds from their own personal funds-or sell their belongings. Radical stuff, huh? Ordinary people are forced to do it every day-b/c no one offers us "bail outs."

Surely a couple of hundred or so millionare & billionare bankers could come up with that kind of cash- sell a few yachts, a few mansions, a few oil wells, no problem. Kind of like when regular people have to have yard sales to pay debts, or bake sales to fund public schools-again, no one "bails us out" in those situations...

Or, we could just tax them exclusively for the $700 Billion. I know, I Know, "that would be socialism." LOL!

I could be for taxing the millionares & billionares for $700 Billion- but I will never be for them taking it from me- unless this bail out business does somethuing for me too- and I'm talking cash, not trickles.

[Realityhack]

105. I do not think you have any desire to become educated on the issue. bye n/t

[Dr Fate]

108. No-the problem is you cant tell me why millionares & billionares cant come up with $700 Billion.

I would love to be educated on why millionare & billionare bankers cant raise $700 Billion to bail out their own businesses. You know, like everyone else has to do.

I would love to be educated on why middle class people cant ask congress for bail outs when their businesses fail. LOL! Could you imagine?

When our businesses fail, we have to use our personal funds or sell our belongings. There is no "bail out" for regular people.

Rather than attempt to explain or justify why millionares & billonares cant or WONT fund their own bail out (like I had to do), all you have really done is tried to paint me as ignorant.

Well, I may be ignorant, but I know who has $700 billion laying around- (hint- Millionare & billionare Bankers)-and I know I dont want to give them any of my money for their "bail out" until someone agrees to bail me out too.

It's too bad your fancy economics books dont have a chapter on explaining to middle class people why they dont get massive bail-outs on their debt, but why millionares & billionares do!

[Realityhack]

45. I think it would be a bit more that $40. n/t

[AwakeAtLast]

34. And a lot of us could do that for 250K

and then would be able to donate the rest to a worthy cause. Lots of people win!!! :bounce:

[intheflow]

36. self-delete, dupe.

[intheflow]

38. I could do it with $100K.

And still have enough money left over to buy a Prius! :)

[kestrel91316]

39. I would:

1) Pay off my debts.
2) Sock about $50k in business and personal emergency funds.
3) Play Roth IRA catch-up.
4) Make some needed repairs/upgrades in business equipment.
5) Replace the car.
6) Buy a humble little low-end condo. Cash.
7) Keep working, because I love what I do.

[greenbriar]

40. see...stimulate and eveyrone wins

and we get relief!

[Realityhack]

42. Wow. That may actually trump nukes at the WTC for dumbest post ever. n/t

[JuniperLea]

60. You've insulted everyone on this thread who didn't agree with you...

Now, yell up to your mother and have her make you a PB & J! You deserve it!

[Realityhack]

80. So?

Inability to do basic math and a complete lack of understanding of inflation. Seems to me like the OP deserved the insult. Those who agree should also turn their brains on.

[Bluebear]

62. Cripes, it's facaetious, go grump elsewhere.

[ngant17]

46. finance companies feed off interest, not so much the principal

so it would seem to me that a sudden and hugh capital gain by the entire working class population in the USA, this would tend to produce a situation where almost immediately, all those profits that these companies are making from interest, that would disappear overnight.

There are sometimes penalties for early pay-off of mortgages, that may be written into the finance paperwork of a lot of loans, I suppose. That's to insure that the finance companies are able to suck more blood out of the life of the loan.

According to Islamic law, I read that it is against the Koran to make money from interest on loans. Not a bad idea, if you ask me. I wish they could graft that part into the Christian religion, that would suddenly make a lot of people in the US finance business become atheists overnight.

[paparush]

57. Hey, if the Pentagon could account for its missing $2 Trillion dollars, your plan might work.

[carlyhippy]

58. omg, imagine the possilities

pay off mortgage
pay off credit cards
pay off student loans we have for the kid
put money away so the 2nd kid can go to college
pay off new vehicle
that should take care of about half of it...the other half I would put in the bank, yep...that would be a dream come true for us, as well as every middle/low class family. talk about a simulus package! The US economy would BOOM if they would do that.

[greenbriar]

66. talk about shopping

I would have SO much fun


I would be keeping those clerks fingers moving

[kwyjibo]

72. That's like 15-20 years salary for many many people. How many will decide they don't need to work

for the next ten or fifteen years?

[greenbriar]

73. If my bills were paid, it would be more of a JOY to go to work

knowing that I could actually do something FUN with my money than to pay bills.

Don't get me wrong, hubby and I make good money 150 k a year combined, but we have student loans to the tune of more than 60 K

our house mortgage is 80 K and we have two credit cards under 15 K and then our ONE vehicle that we owe another 2 years on...

We have plenty to pay our bills, but some days it is just a drag. Knowing our bills were paid and we still went to work, we could have fun planning vacations and remodeling our home ect...

[Dr Fate]

91. Next your greedy rabble will be asking for "golden parachutes" or some other socialist fantasy.

Vacations? Fun? What do you think this is, The American Dream or something?

Sorry, only millionare & billionare bankers & stock-brokers have the time & "bailouts" allowing for the pursuit of happiness.

Time to pull your boot-straps up & get back to work!

[Dr Fate]

90. Okay- then lets make it a paltry $5K for taxpayers in debt. What would be a fair amount?

We seem so willing to give $700 Billion dollars to people who are already millionares & billionares, but we have all these excuses for why people struggling in debt shouldnt get the help instead- I dont get it.

If I got a modest $5K for a bailout, it would all go straight to the bill collector, and I would still have to work. So no, it wouldnt turn me into a lazy socialist or whatever.

It's not even close to being in proportion to $700 Billion- but I'll take whatever I can get.

I need a bail out.

[anigbrowl]

74. For a total of 75 Trillion, or 75,000 billion

Which is equivalent to the entire federal budget for the next 25 years. Smart thinking.

[Dr Fate]

94. Okay- then how about we keep it at a nice round number, say $700 Billion?

I heard that some millionares & billionares were already asking for that exact amount, so apparently us Tax payers own at least that much money to use for one purpose or another...

Me? If I were given my fair share of the pot, I would probably need most of it to pay off debts & use it to get out from under.

[gordianot]

75. Give it time if inflation works out you may need $500,000 to buy a gallon of gas.

[Octafish]

77. Excellent idea. One little add-on...

...To pay down the national debt, a surcharge-levy-tax-whateverTF should be raised on individuals with a net worth of more than $10 million, say 50-percent.

That would go a long way to solving the mess.

Your plan, greenbriar, would fix the country.

[L0oniX]

78. Eliminate federal income tax!

[RainDog]

79. I'd start a new, very small business

I'd contribute to my community via this business as well. And I'd buy locally to improve the fortunes of my neighbors.

I think your plan is THE most sensible one I've heard.

[gatorboy]

83. Wouldn't everyone quit their jobs?

[Dr Fate]

86. Okay- then how about a mere $5,000 per tax payer? What amount do you think would be fair?

I'm about $80K in debt, so my hypothetical "bail out" package would all go to paying off debts. I'll take whatever crumbs I can get.

What is a fair amount for a middle class bail out? $600 aint cutting it. We could use something in proportion to what those poor millionares & billionares are asking for- you know, an amount that would but us in the black.

Then again, I'm not already a millionare or billionare, so I guess when I ask for a little break, it's "welfare" or "socialism".

I guess the only option you guys are going to give me is to give my tax money to some millionare & billionare bankers & hope they trickle on me.

[gatorboy]

102. A Fair amount? Couldn't tell ya. And I'm not complaining if Uncle Sam decided to mail me $500k

But what I do know is if everyone suddenly found themselves $500,000 richer, a bulk of America would be calling in sick the day after. And the next day, AND the next...


Who'd want to be a garbage man if you have $500,000 in the bank?

[Realityhack]

106. Interestingly... giving that much to the average american...

would result in rampant inflation... and much more money going to multi-millionaires than the bailout plan.

[Dr Fate]

109. Would infaltion rise if you could only use the $5K to pay down your debt?

I'm trying to find a way for this plan to benefit me.

This is the first time I've ever heard that allowing middle class people to pay some of their debt would somehow wreck their finances.

I just want to be bailed out, is that such an unreasonble thing to ask for? I'm going to go under if I dont get all these financial obligations under control- my economy will essentially collapse.

I have a feeling that this bail out is NOT going to lower my debt or get me out of any existing loan obligations. Am I right?

I want in on the action, that's all. I want a bail out. I'll gladly support a bail out that bails me out too.

[torbird]

84. My plan to stimulate the economy:

Show it nudie pictures.

[NickB79]

87. Part of what caused the current problem is rampant consumerism and living outside one's means

So your solution is to throw MORE money at people, so they can buy MORE crap they don't need to stimulate the economy (of China mostly), and CONTINUE their unsustainable lifestyles?

:eyes:

[Dr Fate]

89. Okay- then how about a bailout plan to pay for our existing debts then?

How about taking the $700 Billion, or a portion of it, and using it to pay off the debt of working people who are about to go under for one reason or the other?

Oh- that would free up our wages to buy more evil products & services at the grocery stores, shopping centers and locally owned businesses- cant do that.

I guess we have to give our money to the billionares & millionares after all. Hopefully they will buy responsible material possesions & consumer products with our money. LOL!

[Cleita]

95. With that much money, you could invest it in any number of savings

type investments like money markets, CD's or annuities and do all those things with the income, and you will still have your money when you are done paying off things.

[TahitiNut]

96. Well, $600billion would give every man, woman and child $2,000 ... or COST 'em that.

Since we'd already sunk $300 billion in bank failures and takeovers, we were seeing a proposal to got to $1 TRILLION .... and increase the public debt ceiling by $1.5 TRILLION.

It MUST be noted that an increase in the public debt of $1.5 trillion in merely a year means that every man, woman, and child would have an increased indebtedness of $5,000 in just one year.

I don't have the $5,000 ... so some of YOU are going to have to pay MY share. Go for it.

[Sheets of Easter]

101. I'd buy a landing strip for my flying pig.

Sorry, but as fun as that sounds, it's completely unrealistic.

[Dr Fate]

110. What would be a realistic amount to give people struggling with debt?

Be sure to keep it right under $700 Billion in the aggregate.

[4 t 4]

112. How many people would it be

if it was only those over 18 that are us citizens with a SS # ? How bout that and we could all shop! They LOVE when we shop

[Dr Fate]

113. Shopping for groceries, etc would be fun- but I'd be happy just to have some of my debt bailed out.

Then again, I'm not some poor millionare/billionare banker or stock broker, so I'm out of luck on that one.

[4 t 4]

114. Yea ,I mean you

wouldn't give money to children and babies how many over 18, US citizen with a SS# ?

[Dr Fate]

115. How many tax payers in debt would be entitled to a comparable bail out?

Well, to be fair, 1st I need to know how many millionare & billionare bankers would directly benefit from a $700 Billion bail out.

Then, I would need to know how much EXTRA money (that they didnt already have stashed away) that they would earn as a result of having $700 Billion handed to them in the aggregate.

Once I had that info, I would want to give $700 Billion worth of debt relief to struggling working poor & middle-class tax payers using a similar gague and in similar proportions. We would get a similar proportion to whatever a millionare banker would get in proportion to his existing debt, subsequent earnings & money on hand.

Sound confusing? Well, so does a God-damned $700 Billion give-away to millionare bankers.