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| Name: |
lotowner
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| Subject: |
The Fix
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Date:
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3/10/2010 7:20:20 AM
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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!
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| Name: |
MAJ USA RET
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| Subject: |
The Fix
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Date:
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3/10/2010 10:44:08 AM
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And the idiots who take the money will squander it in the market place... GOOD! Spending is increased.
And, the smart ones who take the money will invest it... GOOD! Investment in industry.
And the banks will have qualified customers for mortgages... GOOD! Lending will increase.
With all of that spending, investing, and lending (and retiring)... GOOD! Employment will increase.
This fits Thomas Sowell's criteria for a recovering economy:
Increased spending, investing, lending, and employment.
GOOD POST!
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| Name: |
seahunt96
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| Subject: |
The Fix
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Date:
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3/10/2010 1:19:15 PM
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That is outstanding. Wish it could happen but not a chance
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| Name: |
Yankee06
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| Subject: |
The Fix
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Date:
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3/10/2010 2:48:12 PM
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Interesting, ...but the cost would be forty trillion dollars, ...that's alot even for Obama!
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| Name: |
Lady
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| Subject: |
The Fix
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Date:
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3/10/2010 4:35:25 PM
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40 million people x $1 million each = $40 trillion dollars.
40 million used cars in the market would flood the used car market. Most people over 50 probably already own a home and, unless they can afford 2 homes, they’d have to sell one to buy one. I’m sure that would be a huge financial loss and put 40 million more homes on the market. There will be a bunch of empty houses owned by old people, and that will make the housing market worse. Not to mention, there's no way a 50 year old can survive on a million dollars for the rest of his life, particularly if he has 2 homes.
40 million people are a lot to replace at work. Especially since a lot of these baby boomers hold titles that are either high on the chain of command or require a lot of technical skill. Imagine replacing management at a lot of major companies overnight...it would lead to mass instability.
All above is logic. Oh, yeah, we’re on the Off-Topic forum where logic is rare.
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| Name: |
Talullahhound
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| Subject: |
The Fix
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Date:
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3/10/2010 6:40:14 PM
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And if they do all those things, what are those people that retired going to live on for 30+ years?
A million dollars sounds like a lot of money, but it is not, especially when you've reduced it by buying a new car and paying off a mortgage or buying a new house.
and Lady makes a good point. Most people at age 50 are at the pinnacle of their careers, so when you get rid of all that experience, who's going to train the next generation.
Don't get me wrong -- I'm in favor of early retirement. I planned well throughout my life and I retired at 51.
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| Name: |
water_watcher
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| Subject: |
The Fix
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Date:
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3/13/2010 10:21:52 AM
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The example, while a bit extreme, is only pointing out that there are alternatives to massive government spending programs that have little to no impact on the economy and just creates a bigger government of do nothing individuals (at least 40%) that needs to be funded.
Maybe the break point is not 50, maybe it is 60, 62, or 65 .... but I think the concept has merit. You are right that there are not 40 million "qualified" people to fill all those jobs, but some are not needed and a higher age limit would make it much more likely. Also, "new hires" would not fill all the openings. there would be promotions from within and fill at lower levels.
Lastly, to te point $1 million would not last 30 years ... that is correct, especially if you were required to do all the things listed. But the program would be "optional" and I am sure you would get sufficient takers. I would also hope someone 50 or above would have plenty saved and the $1 million would be a nice addition, plus pay off all bills and mortgage that would make their own savings go much further.
The concept has a lot of merit for fixing the economy quickly and generating higher tax revenues fast through stimulating the economy.
Or we can just keep wasting our tax dollars on more wasteful government programs that have never worked. If there is one, please post it so we can all get a good laugh today.
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