20k would pay my house off, and yes, it would be great for the local economy. I only hire local young men to do the big jobs around here. I could keep them busy for awhile.
I agree, I will say that it could be done in either stages or an account for retirement for each person that they can draw from when they get to a certain age. Just spit balling really, I have no idea.
Agreed, while I would put that to great use towards a better future for myself and my family. 90% of Americans are financially illiterate and would turn this into one of those winning the lottery ruined my life stories. Most would just blow it in a week on Gucci bags and crap.
Maybe some kind of interest free loan could be opened for those who would use it towards a business
When everyone lines up to buy that new car, that new home, all the finest foods they have had to forgo, et al. The resulting demand would fuel massive inflation.
It is simple supply and demand. A windfall in money would generate a demand that far out stripped immediate supply.
The law of supply and demand is exacerbated by greed, and people in this country are greedy gouging bastards. kek
Printed money doesn't impact inflation. 'Money' is created out of thin air every time a bank issues new debt, new car loans, new mortgages. Fractional reserve banking has made an endless supply of 'money'. Even groceries, services, and other goods are not paid with real money. Most folks are using a plastic card to represent money.
Every one getting a half million dollar check in this country at the same time would create inflation on steroids and completely destroy the economy.
We are not getting a huge check.
Agreed. As much as that sounds great, it would upset the economy. Having said that, we all could use a 5 or 10 thousand infusion right about now.
20k would pay my house off, and yes, it would be great for the local economy. I only hire local young men to do the big jobs around here. I could keep them busy for awhile.
It might be hard to find peop!e to do manual labor when your potential pool consists of guys with 500k+ in the bank.
My business would still line up projects, because people will have the money. 🤷🏾♂️😎
Fren, that amount would help my family very very much. And hopefully it will come at the optimum time of arrival. Non-taxed money I assume!!
I agree, I will say that it could be done in either stages or an account for retirement for each person that they can draw from when they get to a certain age. Just spit balling really, I have no idea.
Agreed, while I would put that to great use towards a better future for myself and my family. 90% of Americans are financially illiterate and would turn this into one of those winning the lottery ruined my life stories. Most would just blow it in a week on Gucci bags and crap.
Maybe some kind of interest free loan could be opened for those who would use it towards a business
Prob subtract from lifetime taxes
There won't be any income tax when this is done.
If the money is already in the economy and not being printed would inflation be effected?
When everyone lines up to buy that new car, that new home, all the finest foods they have had to forgo, et al. The resulting demand would fuel massive inflation. It is simple supply and demand. A windfall in money would generate a demand that far out stripped immediate supply.
The law of supply and demand is exacerbated by greed, and people in this country are greedy gouging bastards. kek
Correct. The free market.
My question was about the printing money vs money already in the economy.
Printed money doesn't impact inflation. 'Money' is created out of thin air every time a bank issues new debt, new car loans, new mortgages. Fractional reserve banking has made an endless supply of 'money'. Even groceries, services, and other goods are not paid with real money. Most folks are using a plastic card to represent money.