A fwd'd e-mail ;
This was an article from the St. Petersburg Times Newspaper on Sunday.
The Business Section asked readers for ideas on "How Would You Fix the
Economy?" I thought this was the BEST idea....I think this guy nailed it!
Dear Mr. President,
Re: Patriotic retirement:
There are about 40 million people over 50 in the work force - Pay them
$1 million apiece severance with the following stipulations:
1. They retire immediately.. Forty million job openings - Unemployment fixed.
2. They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.
3. They either buy a house or pay off their mortgage - Housing Crisis fixed.
It can't get any easier than that!
P.S. If more money is needed, have all members in Congress and their
constituents pay their taxes…
Helluva a lot cheaper than a stimulus bill
I assume that you did the math and understand that the price tag for this modest program would only be $40 trillion. To put that in context, the entire global economy generated about $55 trillion in GDP in 2007. Of course, if you insist, I will promise to send a thank you note for my $1 million.
Originally Posted by BrianW
Everything from the semicolon on was just from the e-mail.
But since people are starting to throw around "quadrillion" numbers now (1000 T) over Social Security, Medicare etc entitlement projections, what's a measly 40T between friends, huh?!? :D
And besides, since more than a third of the money gets instantly put back into "the system" between the car purchases, mortgage payoffs as well as taxes on that 1M, it doesn't really cost that much. Then if the recipients just put that money in savings/investments to live on the interest/dividends, we've now fixed most of the problem of us not saving enough as economists having been telling us for years. Include the savings from people not being able to draw SS because they now make too much money and this thing starts paying for itself.
The 40M cars that are turned over can be scrapped and we can give the Chinese some junk metal for re-bar etc instead of junk bonds as ROI!
Finally, 40M people buying new, more fuel efficient cars plus not having to drive them to work every weekday is surely going to help save the planet.
And c'mon, you really can't put a price tag on that can you?!? :rolleyes: