The following is not mine. It is floating around the web.
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!
If more money is needed, have all members of Congress and their
constituents pay their taxes...
Of course it is moronic for many reasons. It goes against everything this country believes in (but still, a million dollars...wow!)
Let's see, pay the taxes, end up with about $500,000 apiece. Just enough for a newly minted class of "dumb" millionaires to get into real financial trouble. So I pay off my 250K mortgage (hypothetical) buy a nice big American car and I have around 200K left. How do I live on that with a 0-3% annual return on investment (ROI).
No question the million will have to be tax free. Now you have 700K but still with present interest rates...uh, how do you live on that much money?
So I have to buy an American car?
I have my million and I am still working. How about just you paying off my house, you keep your American car and I will take it from there.
There is no free lunch.
Where is John Galt? (Not who is..but where is?)
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