Lets say for arguments sake the money came from some third party from another country.
2007-09-08 16:01:14 · 7 answers · asked by Hal Mark 2 in Business & Finance ➔ Other - Business & Finance
I think there'd be lots of spending on things people didn't need, instead of worthwhile things, like paying off a mortgage, investing for the future, paying for children's college education, etc.
2007-09-08 16:07:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Unless a *large* block of ordinary Americans got together to fight it openly and publicly....it would get taken away.
It would either get taxed away, or the Fed would jack up interest rates and inflation *both*, or the corporations would *both* refuse to hire the new citizens and also *jack up prices*.
Unless people fought this thing tooth and nail....the CEOs/One Percenter crowd would do *everything* in their power to negate and take away this wealth. Really. They couldn't stand the thought of *anyone* getting wealthy the real way, through hard work, during the New Economy days of the late 1990s...so they wouldn't put up with any 3rd-party stuff either. The richest One Percent want to own it all, with Big Oil and Big Banking at the top, and most of *us* at the bottom, being Have Nones in a 3rd-World type of situation.
Really. This won't happen, and even if it did, even if, say, *Bill Gates did this*, within a week he'd be in prison or shot dead, and the change in wealth would be utterly negated.
Sorry to be a wet blanket, but hey....somebody's got to reality check around here.
2007-09-08 23:15:03 · answer #2 · answered by Bradley P 7 · 0⤊ 0⤋
Prices would sky rocket and it would basically make a $100 dollar bill worth a penny. Making everything smaller usless. Regardless where the money came from. Supply and demand is simple economics. It would only take a few hours before prices are high. Say $100 is worth a penny. Say you can buy gum for $25 cents. That would make 2500 for a pack of gum. But for the few hours before all the business to adjust they would lose a ton of inventory making that pack of gum 10,000 dollars to cope with the loss and the high demand. (replace gum with any item). Get the drift it would be very bad.
side note: would also make minimum wage go up. as will your electric any new renters/mortgages and TAX! basically cost of living.
2007-09-08 23:10:12 · answer #3 · answered by Michael 2 · 1⤊ 0⤋
Everyone answered wrong. If we all had a million dollars, no matter where it came from, we'd go out and spend it. This would help the economy of this country a great deal. Let's hope an angel will drop this in our laps.
2007-09-08 23:13:28 · answer #4 · answered by JR 5 · 0⤊ 0⤋
I wonder if you are like, 10 years old. Do you not know what inflation is? If we all obtained one million dollars candy that originally cost $1 would be now $1,000,001. Gold would drastically lose it's value. So not a good idea.
2007-09-08 23:07:18 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Hey buddy, it's supply and demand. If everyone that you knew was a millionaire then they would be poor millionaires. The lowest common denominator. Your million wouldn't buy you and ice cream cone.
2007-09-08 23:06:00 · answer #6 · answered by Traveler 7 · 1⤊ 0⤋
Wherever it came from, I'm sure they would tax the heck out of it!
2007-09-08 23:04:42 · answer #7 · answered by peace baby 2 · 1⤊ 0⤋