Tuesday, September 23, 2008

Here's what you could buy with $700 Billion

Eli sez:
$700 billion, divvied up into modest but decent salaries of $50,000 (enough to help someone make a mortgage payment!), pays for 14 million jobs. In reality, it does far more. Because if you give $50,000 to a working person (or a formerly unemployed person, more to the point), they're likely to spend every penny, on groceries, rent, gas, whatever. Meaning that every cent goes back into the economy with a "multiplier effect," producing even more jobs.
A "flow-up" plan rather than a "trickle-down" plan. Needless to say, it won't be considered.
Oh, no, we couldn't have that, now. It would be "socialism". Giving to the CEOs who caused the mess is such a better investment, and even if there is a striking resemblance to welfare in Paulson's plan, it is simply insufficiently PC to call it that.

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