Easy Economy Fix

[Bungie]

Dear Mr. President,

Patriotic retirement:

There's about 40 million people over 50 in the work force - pay them $1 million apiece severance with the following stipulations:

1) They leave their jobs. 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/pay off their mortgage - Housing Crisis fixed.

Can't get any easier than that!

 

[fjrboomer]

Bungie that is certainly a much better plan than what our government is presently trying to enact.

 

[Shane]

Dear Mr. President,
Patriotic retirement:

There's about 40 million people over 50 in the work force - pay them $1 million apiece severance with the following stipulations:

1) They leave their jobs. 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/pay off their mortgage - Housing Crisis fixed.

Can't get any easier than that!

See, now this is the advantage of objectivity!

Not too bad of an idea for a Canadian! Well said, sir.

Shane

 

[bramfrank]

First of all, why not make it TWO million each? - still cheap.

Second; How do I become an American quickly?

 

[jzzmusician]

you're making way, way too much sense here. it'll never fly.

 

[Bungie]

Second; How do I become an American quickly?

You and me both bud. you and me both...

 

[V GER]

Dear Mr. President,
Patriotic retirement:

There's about 40 million people over 50 in the work force - pay them $1 million apiece severance with the following stipulations:

1) They leave their jobs. 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/pay off their mortgage - Housing Crisis fixed.

Can't get any easier than that!

I see some fresh ointment..... Allow me to be the first fly.

1) Now you've got 40 million aging boomers with no health insurance.

+ There aren't enough newmers to fill the skilled positions.

2) They buy ANY vehicle that gets 40+ MPG. Incentivise Detroit instead of buying old inventory.

3) Half of the million is a 0% interest home LOAN towards a property. Let the market benefit from the sales, not early payoffs.

$.02

V

 

[odot]

GODDAMNIT.............THAT ******* VOICE OF REASON.................SHUT UP!!!!!!!!!!!!!!!!!!

 

[Bustanut joker]

This ain't gonna last

 

[TruWrecks]

I hope you don't mind, I emailed it to the White House tonight. I didn't claim credit.

 

[ponyfool]

Let's see, that would be $40,000,000,000,000

Time for another fly in the ointment I suppose. That many zeros would be 40 TRILLION dollars. That's not "cheap" by any means. In fact, that's considerably more than what is currently being touted.

Mind you, I'm not a fan of the existing plan, and I don't want this to get political by any means, but the idea has to be run through a fiscal impact assessment, and it doesn't appear that this idea has been.

 

[Aasland]

Ain't gonna work.

1) $1M after taxes (35.4% fed, 9% state, 15.4% SS) is about $400k

2) buy a car ($30k) pay off the house ($180k) there's $200k left. Lots of assumptions here.

No way $200k will last from age 50 until SS (67?), other pensions (62?), and 401k/ROTH disbursements are allowed (59.5).

What if the gov't exempted the $1M from income taxes, and we'd have $800k to last 12 years? That's more like it .. $66k/year with no mortgage.

But in either case, the problem is that most people in their 50's are in their prime earning years with minimal debt, and this is where the bulk of their retirement savings come from. This means significantly less to live on in their retirement years.

The other aspect of this which scares me is that this age group is where our productive leadership comes from. These are the folks who are experts in their fields, have "big picture" views of their industry, and are the senior managers. These people have such a wealth of knowledge and experience in their fields that removing them will rob us of our competitive edge and our economy will never recover.

(for the record, I'm just a 35-year-old engineer with no aspirations to management, but like to retire sooner than later).

 

[FJRBluesman]

Let's see, that would be $40,000,000,000,000
Time for another fly in the ointment I suppose. That many zeros would be 40 TRILLION dollars. That's not "cheap" by any means. In fact, that's considerably more than what is currently being touted.

Mind you, I'm not a fan of the existing plan, and I don't want this to get political by any means, but the idea has to be run through a fiscal impact assessment, and it doesn't appear that this idea has been.

Ponyfool Good man, you did the math. I don't think we need another 40 Trillion more of debt. :dribble:

But I will take a multi $$ million bail out if afford to me....

 

[radman]

Ponyfool Good man, you did the math. I don't think we need another 40 Trillion more of debt. :dribble:
But I will take a multi $$ million bail out if afford to me....

You really think it would make any difference anymore? The way the dough is flying around, I've made a habit out of glancing up just in case a chunk falls my way. In any case, In Before The Lock.

 

[ice_station_zebra]

Dear Mr. President,
Patriotic retirement:

There's about 40 million people over 50 in the work force - pay them $1 million apiece severance with the following stipulations:

1) They leave their jobs. 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/pay off their mortgage - Housing Crisis fixed.

Can't get any easier than that!

Love the concept, but Isn't 40 million x 1 million 40 Trillion?

 

[SockMonkey]

Sure I could use the money, but all I really want is free ****.... B)

 

[Bogey907]

$40 trillion here, and $40 trillion there, and pretty soon it adds up to real money.

 

[Capt. Bob]

Sure I could use the money, but all I really want is free ****.... B)

Ditto. :blind:

 

[Fastfar]

I wonder how long it would take the Fed to print $40 Trillion?