Hey /biz/, assuming the math wasn't shit, what would giving the entire population of the U.S say.... 1 million dollars, actually do to the economy?
>>1037069
Every minimum wage worker would quit their jobs immediately, and a whole lot of bushiness would go bankrupt.
Then they'd piss away the 4 million in 2 years, be penniless, and try to get back their old job at burger king- but burger king is long gone.
So now we have 50%+ unemployment,
>>1037072
this
>>1037072
So it would be bad for economy right?
>>1037069
>>1037072
Pretty much. Plus the massive inflation would mean 100$ burgers and all the poorfags who bought lamborghinis wouldn't be able to pay the rent on their apartment.
>>1037069
Hyperinflation
it's not even a matter of 100$ burgers. The $ would immediately collapse, as soon as the news are announced, bringing down with it the entire world economy.
This is how it works: Nobody would buy lambos, because the dealerships would close. Because the execs are not actually retarded and don't need large amounts of toilet paper. Same goes for all other cars and luxury goods. This brings massive unemployment in the short term, in the order of at least 70-80%.
In the very short term, banks and businesses close, international trade halts, because such a retarded situation is entirely unprecedented and unexpected.
Government bonds, especially Swiss bonds, gold, and I assume autistcoins jump, while major currencies plunge. When americans can't buy chinese goods because they decided to burn down their wealth, the RMB goes down hard, same goes for the EUR, and from then on it's a domino effect. Banks close, businesses that are barely hanging on go bankrupt from the disrupted cash flow, unemployment, more banks close, more currency devaluation as some governments yet again attempt desperate measures, more unemployment, housing prices plummet, the US president is impeached, and new world powers are forged from the ashes.
All because a retard on /biz/ wanted a million dollars, that would in the hypothetical situation be worth about as much as a bag of chips.
I cannot believe no one on 4chan os aware of the Gift Tax. You cannot give an indivual more then $14,000. Before YOU get hit with a 40% tax. Its the same damn tax that the government hit you with when you won the lottery.
Even then, you are maxed out at I believe $280k total. After that, every amount given out is taxed at 40%
This all excludes giving to charities.
Which is 100% tax deductible.
And dont hit me back with trusts.
Because even that is a grey area.
>>1037099
Ya, the gift tax is the part missing from OP's math. Way to solve it.
>>1037069
You would need a 1.3 sextillion dollar jackpot (after taxes) to give 300 million people 4.33 million dollars
In which case the dollar is probably worthless at this point anyway.
$10,000 for a gallon of milk
>>1037167
You're off by six orders of magnitude.
Inflation would only occur depending on how the money is utilized. Money is just a symbolic claim to future wealth which doesn't necessarily actually exist today. If everyone tried to spent all their money tomorrow this would become blatantly obvious. Monetary 'wealth' is an illusion which controls the real productive apparatus of society.
>>1037099
>Not citing the 5.4mil lifetime exemption
>>1037077
the only person here who did the math , i think everyone on biz is a shill bot or a literal retard
>>1037219
If you read my OP, i said "Assuming the math wasn't shit" We all know that equation doesn't work out.
>>1037219
OP is assuming the Powerball jackpot is $1.3x10^15 instead of $1.3x10^9 thereby making the $4.33x10^6 winnings actually valid. You're the retard here.
Shit erryone would be gettin' their hair weev dun. Escalades on 26s. Sheeet.
bitches don't know about my inflation
>>1037069
income elasticity of demand
so a million is retarded but lets say 10k annually (universal basic income)
initially they splurge on vacations / weed / pc's and xbox <- luxury goods
but it happens suddenly so the price of the goods doesnt really have a big blip of supply / demand
it settles out and everyone adjusts their spending to account for the new 10k yearly
the interesting and unknown (as far as studies etc) part is what happens to inelastic demands like rent and car prices, a man only needs one home and I can go down the street to rent a place if my landlord tries to price gouge but obviously overtime the price ticks up - the question is over what period of time? , because 10k a year would lift many out of poverty and if used properly initially could afford a better life
>>1037099
What if you give the money in a big plastic 6by2by2 ft tub in a back alley at 2 in the morning?
Suck my asshole, gubberment
>>1037069
well it couldn´t be worst than student loans for women studies.
