I would like to suggest a stimulus package to Obama. Instead of bailing out failing industries, just give every citizen 16 y.o. and over, $250,000 (tax free) to spend/invest as they see fit. What do you think and what would you do with the money?
by 
BROADWAYTHECAT
ANSWERS: 10
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You're not the first to suggest that, and I think it makes a lot of sense. The first thing I'd do with the money is pay bills, except I would NOT pay off the mortgage. Money tied up in your house is money you can't get at unless you succeed in selling the house. It's better to invest the money so you can get at it if you should ever need it. Let me know if you start a petition to put this plan into affect. I'll sign!
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I think it's more fair than bailing out failing businesses. I think if anyone gets bailed out it should be small businesses that haven't gotten all the extras the big boys get...but I wouldn't complain about getting $250.000 bucks. I'd pay off some bills and invest the rest in gold and silver so when the dollar crashes I have money still.
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I like your question, the only part that concerns me is "spend as they see fit". You know and i know the majority of people would blow this money on frevilious objects, like a new car, a new home and big screen t.v. That would not be the intention of the money, but some people have gone without for so long, that spending the money for its intended purpose, would never happen. Its better to let the government handle the money "in-house" with government watchdogs accounting for every penny.
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I would move to Canada.
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Being that America doesn't HAVE 250,000 dollars to give out to every individual, wouldn't this just be doing what America has been doing all along...that is, ignoring the problem and continueing to spend money they do not have. Why should Obama reward the average American whom is already $9000.00 in debt with money that doesn't even exist?
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Unfortunately, that proposal would cost $35 TRILLION, which is about 3 years of US GDP, and would quadruple the US national debt. That's not even considering the hyperinflation effects of having $50 Trillion chasing $15 trillion of goods and services. . . .
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I would invest half of it the stock market selecting companies/industries that have been well managed. I would pay half of my student loans off and continue to make payments on the rest. Half of what was left after that would go to well managed nonprofit agencies supporting causes that I have an interest in and the rest (about $25,000) would be spent on stuff (TV, carpet, landscaping the yard, etc.). I would continue making payments on my house because I didn't do an ARM, have a low interest rate, have it more than half paid off anyway (7 years to go!). I don't need a car and have the cash in the bank to buy a new one when I do need one....that would also give the American auto industry time to recover then maybe I could by American with confidence this time. That's what I would do...
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Well I wouldn't buy any government bonds with it!
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I would immediately buy stock in tobacco,beer and liquor companies,and Wal Mart,for the simple reason being people who have little money and cannot manage it have the same spending habits w/the $250k
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I would get together with all of my relatives who received theirs, and offer them interest if they would invest in a restaurant operated by my Chinese daughter-in-law, and worked by her three adult sons, plus me as their CFO, and Hubby as the CEO. DIL is a formally trained cook, and is the daughter of a retired restaurant owner. We could even make it an internet cafe, with my youngest son and his wife, who are both experienced in computering. I count at least 10 relatives who would be involved in the funding, and possibly more.
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