What would happen if the government was to give out 1,000 dollars to every us citizen?

Question

What would happen if the government was to give out 1,000 dollars to every US citizen with only one rule- to spend it domestically in 30 days?

Answer 1

It already happened when Bush spent our surplus by giving every American $300. Then he did it again. It's not as much as $1,000, but he sure did blow all our surplus.

Answer 2

Absolutely nothing.
To give out 1000 to all citizens, the government would have to collect 2000 average from the approx. 1/2 that pay taxes. That means the amount of money put into the economy would equal the amount taken out.
Remember that even the rich that invest their money rather than spend it help the economy by providing the funds for banks to loan us "poorer" people and their stock purchases fund businesses hiring more of us so we can make money and spend it.
The government has no money to give without taking it from us first.

Answer 3

They already tried a smaller version of that in 2002. The federal budget came up surplus, and rather than cutting down the defecit, Bush "decidered" to invest in the mid-term congressional elections by returning $200+ to every taxpayer through a retroactive tax cut, auspiciously to bolster the economy. It made no impact on the economy whatsoever, but it did buy a lot of Republican House and Senate seats that year. Rather than buying expensive consumer electronics, as hoped, most Americans used the extra cash to pay down credit cards.

Answer 4

It would get spent, but most likely the city, county, state and federal taxes would be raised to get it back with 25% interest. What would happen if we taxed every dollar that was going out of the country 25% and put that money toward our social security and our social programs? Or, what if we taxed all the money going out of the country at least 50% to make it a disincentive to spend elsewhere?

Answer 5

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Answer 6

it sounds like a good idea, but it would cost us all in the long run. Most people would blow the money the first day they received it and not use it to pay off anything or save it. Then they would feel they were entitled to this and want another hand out..

Answer 7

There would be people protesting about their rights being violationed due to not being able to spend their money how the see fit and for those who are not quite citizens yet.

Answer 8

Sounds like some Libs giveaway 2 tax us more.

Answer 9

It would cost them $3 billion. The taxpayers would have to kick in to make it up.

Answer 10

That would never happen because it would be taking money out of Bush and Cheney's pocket.