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By giving every American a million dollars, the 700 billion would become 300 thousand-billion. But despite that, lets do it; What harm could it do?
Immediatly the service industry collapses. No more Starbucks, no more till operators behind the counter, no Prostitutes on streets, no more poverty line slavery that has propped up the US Economy since its founding.
Small business must alter to a new Communist form to survive where the Workers own the company - why work for others for less than your share when you can work for yourself.
Crime now alters as sexual predators who were taking it out on the "sex industry" workers begins targeting children and the mainstream population. Sex crimes jump by say 400%. The only "Sex worker economy" left when no one will work is slavery so the criminal element will establish an underground economy based on the abduction and exploitation of children and other vulnerable people. For those whom a million dollars is nothing, a new era of Slavery will give them great wealth.
The number of people working in private security and police drops as it is safer to defend yourself and your million dollars than someone else for $45 an hour.
With no guards in shops and banks and no police risking their lives, the high yield criminals will increase raids on Businesses and Banks so that they (the businesses) must employ Security operatives for real wages.
This further accelerates the current financial collapse as costs go up and share dividends drop off. The Share trading Economy becomes unviable. Your Million Dollars no longer buys that bag of apples. if you want apples you must grow your own and defend it from those who would raid your crop at harvest time.
The subsequent Second Great Depression would blow out to an Economic Holocaust and the USA will become a Murderocracy.
Your thoughts?
Better idea:
Let's pay each man. woman, and child in Canada 1 million dollars to change their citizenship to US. That would cost approx 33.4 Trillion dollars. Since the US federal budget is nearly 3 trillion it would take at least two decades to pay off (assuming sacrifices and tax increases).
The benefit: Canada ceases to exist and the US acquires her territories and resources by default (along with the population, but you can't have everything - at least they won't be socialists after they're millionaires).
Mexico is even easier. Consider that every year millions of Mexican citizens undergo harrowing and often life-threatening treks across the border so they can live in constant fear and work long hours for less than minimum wage. They consider this preferable to living under the thumb of the corrupt criminal organizations that comprise the Mexican government. Solution: Give every Mexican who wants it US citizenship. Granted; it's a lot of people to absorb (triple the pop of Canada) but we will have vast tracks of land and huge resources to exploit in Canada and the millionaires living there aren't gonna want to work - we will need the labor. We will send buses down to help collect people - they will be advised to bring their whole families since money transfers from the US to Mexico will become illegal.
Starved of Money to steal from migrant workers in the US, and with no one to exploit at home, the criminal organizations will quickly collapse into infighting and anarchy. After a suitable time, we move in - under a humanitarian mandate from the UN - to restore order. We quickly institute a "de-bathification" process; basically anyone connected with the government or the cartels (which basically means anyone rich) has their property seized and gets to walk to Guatamala with the clothes on their back.
We then set up a territorial government, re-colonize Mexico the same way we did all our western states, admit them to the union and; Viola! The United States of North America without firing a shot.
You know...this isn't near as funny as I thought it would be when I started writing it...Sigh
World domination is easy. Comedy is hard.
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actually, if evrey citizen would have 1$ million more, the situation wouldn't be so crazy, espacially if it comes with the comitment to keep your steady job. anyway, the crazy fever of "now I have lots of money and I don't need to work would last a month, two months top, but it will subdue to noramallty shortly thereafter.
of course it's still not a very bright move and there will be complications, but it wouldn't be the hell you described. or so I belive.
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What if your boss offered you one of two options: work for him for 30 years for $45K a year, with no pay increase ever, 50% medical costs covered for you only; or work for him for 30 years, take $1M right now (no paycheck, ever, and you can never take a second job), get 100% free quality medical care for your entire family at the company hospital, and he will give you a company car and house.
Math help: 30 years x $45K = $1.35M
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What if your boss offered you one of two options: work for him for 30 years for $45K a year, with no pay increase ever, 50% medical costs covered for you only; or work for him for 30 years, take $1M right now (no paycheck, ever), get 100% free quality medical care for your entire family at the company hospital, and he will give you a company car and house.
Math help: 30 years x $45K = $1.35M
The second option, obviously. You could earn interest on the $1 million up-front, and with no house payment, no medical expenses, and only one car payment (assuming a two-car family), you could likely live off of only a portion of the interest.
So if given a million dollars, would you show up for work tomorrow?
NO!, ok,I would maybe give 2 weeks just because my boss is usually nice and I would feel better about myself.
Here's what I wouldn't do....splurge, buy a new home, etc. I would remain living modestly so I could hopefully retire at my early age.