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A Solution.... - 1/25/2011 2:31:30 PM   
hlen5


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Just got this in an email. Thought it was interesting. Sometimes a simple thing is a good thing.....

The Fix

There recently was an article in the St. Petersburg, Fl. Times. The Business Section asked readers for ideas on: "How Would You Fix the Economy?" I think this guy nailed it!

Dear Mr. President,

Please find below my suggestion for fixing America's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the "Patriotic Retirement Plan":

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.

3) They MUST 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 pay their taxes..

Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto! (both programs were good till congress took them over)

If you think this would work, please forward to everyone you know..



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RE: A Solution.... - 1/25/2011 2:44:09 PM   
KenDckey


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Status: offline 		That's to easy   but I like it

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RE: A Solution.... - 1/25/2011 2:45:57 PM   
TreasureKY


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Status: offline 		Sounds great until you look at the numbers and what it would cost...

$40,000,000,000,000.00?  That's about twenty times more than what the Federal government brings in in tax revenue and three times more the current national debt.  Where on earth would the government get that kind of money?  They can't even figure out how to pay the $14 Trillion dollar debt we have.

How much you want to bet that the yahoo who made this suggestion is over 50 years old, and wants to retire early? 

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RE: A Solution.... - 1/25/2011 2:47:09 PM   
DarkSteven


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Status: offline 		Um, about the companies with lavish bonuses... are we talking about halting all weapons programs? Let's have a bit more detail on the cuts, please.

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RE: A Solution.... - 1/25/2011 2:47:12 PM   
mnottertail


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Status: offline 		and he doesnt own a car or a house.

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RE: A Solution.... - 1/25/2011 2:59:10 PM   
TreasureKY


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quote:

ORIGINAL: mnottertail

and he doesnt own a car or a house.


Good point.  Not to mention, he'd probably love to have the US hand him  $1,000,000,000 to retire on. 

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RE: A Solution.... - 1/25/2011 3:01:45 PM   
mnottertail


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RE: A Solution.... - 1/25/2011 4:11:11 PM   
Elisabella


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quote:

ORIGINAL: hlen5
Pay them $1 million apiece severance for early retirement with the following stipulations


quote:

ORIGINAL: TreasureKY

Good point.  Not to mention, he'd probably love to have the US hand him  $1,000,000,000 to retire on. 


Make it one trillion and I'm in.

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RE: A Solution.... - 1/25/2011 4:29:04 PM   
DomKen


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quote:

ORIGINAL: hlen5
Pay them $1 million apiece severance for early retirement

quote:

ORIGINAL:TreasureKY
he'd probably love to have the US hand him $1,000,000,000 to retire on

hmmm.

I guess that might explain you and Firm's troubles with math.

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RE: A Solution.... - 1/25/2011 5:40:53 PM   
TreasureKY


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quote:

ORIGINAL: DomKen


quote:

ORIGINAL: hlen5
Pay them $1 million apiece severance for early retirement

quote:

ORIGINAL:TreasureKY
he'd probably love to have the US hand him $1,000,000,000 to retire on

hmmm.

I guess that might explain you and Firm's troubles with math.


  So I put a few too many zeros on there; I was a little zero happy after calculating trillions. 

Sheesh... get a life. 

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RE: A Solution.... - 1/25/2011 6:17:17 PM   
Musicmystery


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quote:

ORIGINAL: mnottertail

is this gonna be taxable income?


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RE: A Solution.... - 1/25/2011 6:22:13 PM   
DarkSteven


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quote:

ORIGINAL: mnottertail

is this gonna be taxable income?


Screw this if there are taxes on it.  I want it tax free or I'm not accepting it.


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RE: A Solution.... - 1/25/2011 6:28:09 PM   
TreasureKY


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Status: offline 		Firm and I were discussing this a bit as we were getting ready to go to dance this evening...

Maybe... just maybe this might be a more viable solution if some slight changes were made:

1)  Raise the age to 60 years old (there are approximately 15,240,000 workers aged 60 and over in the workforce);

2)  Change the monetary offer to $100,000 for the first 12 months of retirement, with an annual payment of $40,000 until they reach the age of 70;

3)  Individuals currently age 70 or above and still in the workforce (approximately 1,906,000) would receive a one time payment of $150,000;

4) Proceeds would be free from Federal income tax but would still be subject to State income tax and FICA withholding; and

5) Beneficiaries would have to relinquish all Social Security benefits until they reach 70 years of age.

The requirement of purchasing an American auto and home would help the economy, provided the industries could handle that kind of business influx.  The time period for compliance would likely need to be extended to within five years of initial payment... particularly for the vehicle requirement.

Of course, you'd have to find some way to address making sure that companies fill those vacated positions rather than just use the opportunity to downsize. 

You'd also have to consider that this could not be an ongoing offer... it would have to be limited to a one-time opportunity during a 12 month period.  Then, you'd have to contend with discontent by younger individuals who missed out on a "cushy" government funded retirement.  You'd be creating a new class of senior "haves".

Still, I'm not sure it would be workable.    Perhaps someone with the time and inclination to crunch the numbers will check it out.

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RE: A Solution.... - 1/25/2011 7:53:25 PM   
Musicmystery


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Status: offline 		The health care bill will stop people hanging onto to jobs merely for the insurance.

That will free up jobs right there (the "job-killing" part some misrepresent).

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RE: A Solution.... - 1/25/2011 8:51:45 PM   
hlen5


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The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"

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RE: A Solution.... - 1/25/2011 9:06:24 PM   
DarkSteven


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quote:

ORIGINAL: hlen5

FR


The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"


Forty trillion.

And why would paying off mortgages, in the proposed plan, stimulate the economy?


_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

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RE: A Solution.... - 1/25/2011 9:17:00 PM   
Aylee


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quote:

ORIGINAL: hlen5

FR


The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"


If it was 40 people recieving 1 million then it would cost 40 million.

The article was suggestion 40 million people recieving 1 million. 

40,000,000 x 1,000,000 = 40,000,000,000,000

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RE: A Solution.... - 1/26/2011 1:31:37 AM   
hlen5


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quote:

ORIGINAL: DarkSteven

quote:

ORIGINAL: hlen5

FR


The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"


Forty trillion.

And why would paying off mortgages, in the proposed plan, stimulate the economy?



DS,

Maybe the banks would then have more money to loan out?

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RE: A Solution.... - 1/26/2011 1:33:57 AM   
hlen5


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quote:

ORIGINAL: Aylee

quote:

ORIGINAL: hlen5

FR


The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"


If it was 40 people recieving 1 million then it would cost 40 million.

The article was suggestion 40 million people recieving 1 million. 

40,000,000 x 1,000,000 = 40,000,000,000,000


D'oh!! Thank you for spelling it out for me (I bet you'd never guess I wasn't a math major)!!

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RE: A Solution.... - 1/26/2011 8:26:21 AM   
willbeurdaddy


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quote:

ORIGINAL: hlen5


quote:

ORIGINAL: DarkSteven

quote:

ORIGINAL: hlen5

FR


The way I read the article, it would only cost 40 million once.

I didn't mean to imply it was a serious fix, but just an interesting "what if?"


Forty trillion.

And why would paying off mortgages, in the proposed plan, stimulate the economy?



DS,

Maybe the banks would then have more money to loan out?


Nobodys borrowing, money is sitting in the banks. See the other thread where the Velocity of Money and more importantly the money multiplier are down.

There is some stimulative effect though, since whatever mortgage payments they had will now be spent. The problem is that the money would have been spent or invested by the taxpayers to fund this hare-brained scheme, so the net effect, like any redistribution of wealth downward, is a drag on the economy.

< Message edited by willbeurdaddy -- 1/26/2011 8:43:48 AM >

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