$3.5 million in every pot
$3.5 million in every pot
To the editor:
Instead of granting the U.S. Treasury authority to dispense $700 billion to mainly cover losses incurred by failing financial firms, brokerages, investment banks, leveraged buyout firms, insurance agencies and any other financial entity deemed "too big to fail," let's cut a stimulus check for each taxpayer for the amount of $3.5 million dollars.
This will instantly generate economic growth, end the housing crisis, reduce unemployment, eliminate consumer debt and balance the budget.
Paulson's plan is doomed to fail and all the money goes to a handful of dying institutions with hope that some trickles down to the working public.
My plan puts a Ferrari in every garage instantly and most assuredly. However, immediate action must be taken. Inaction or delay risks and economic Armageddon.
Call Congress and tell them you want your fair share of the $700 billion because the Christmas shopping season is soon upon us.
JOHN HENRY BYK
Mass City
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Anderson
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10-14-08 4:26 PM
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And even if it was possible to give everyone $3.5 million, who would be the millionaire who would swing the hammer to build that house for the unhoused?
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LocalMom
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10-14-08 12:21 PM
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Yeah, this sounds great, but once you do the math, the amount is much less. Without the zeros, it is still off. There is a great correction of the math on Snopes.
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HarveyMilk
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10-11-08 3:18 PM
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Other barriers to this $3.5 million per person / $ 700 trillion disbursement: 1. The annual GDP of the USA is currently 13 trillion, taking us 53 years at current levels to reach 700 trillion. 2. The number of tax returns filed is far less than the population at around 140 million, a large percentage of which have zero or negative tax liability. It's rather impossible to visualize numbers on this scale, these (web copied) examples may help: $10 trillion in one-dollar bills make a stack over 678,000 miles high. This is about three times the distance to the Moon. $10 trillion in one-dollar bills would blanket almost 40,000 square miles — enough to cover the state of Indiana and a couple of Rhode Islands. $10 trillion accumulates over $1 billion in interest per day at 4%. It accumulates in four seconds more than the average US worker makes in a year.
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Johnnybluebeard
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10-11-08 10:55 AM
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Thanks for using all those zeros, surreality.
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surreality
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10-11-08 12:34 AM
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If there are 200,000,000 taxpayers in the US,then giving each taxpayer $3.5 million dollars would cost $700,000,000,000,000. Thtat is $700 trillion, 1000 times more than the cost of the bailout package.
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