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Reload this Page Good Economic Idea?

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Post imported post - 05-06-06, 03:34 PM

I was listening to NPR th eother day and an economist came on, I have forgotten his name, but his theory was that instead of continuing to have Social Security overtax our economy, he would eleminate it and instead, give every American adult (over the age of 21) a check for $10,000 every year. He said that by 2010, this route would cost less than social security. Social Security last year cost $519,120,000,000. This new plan had it been implemented last year would have cost $2,150,000,000,000. Social Security is projected in 2030 to cost 766,320,000,000 (all of this by very rough calculations but do your own if you're skeptical). What do you guys think, will people invest their money wisely and stimulate the economy or is this simply a horrible idea?


You\'re very clever young man, very clever" said the old lady, "but it turtles all the way down." -Anonymous, to Sir Arthur Eddington

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Post imported post - 05-06-06, 11:13 PM

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will  people invest their money wisely and stimulate the economy or is this  simply a horrible idea?
Most people will blow the money and that will stimulate the economy. It is one of those ideas that is great in principle and probably bad in practice and I bet he knows it would be bad in pratice. The economy is based on keeping most people ignorant and confused. Have you heard any economist saying that accounting/personal finance should be mandatory in the schools? What state would the economy be in today if that had been implemented 50 years ago?

All warfare is based on deception. - Sun Tzu

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