-——there is 300 million people in the USA! What if $1 million was distributed to each American?????? That would
still leave a nice bundle. Would poverty disappear???
That would be 300 million million.
$3,000,000,000,000
>Would poverty disappear???<
Of course not. The economy would most likely adjust, with the dollar inflating to balance the resulting decline in buying power. And, like always, some would spend every penny within the shortest possible time, while others would become even richer.
Ah, human nature!
Have you done the math on this? My wife mentioned something about seeing this on facebook. You are talking about money amounts for distribution in the hundreds of trillions.
“If all the money and property in the world were divided up equally at, say, three o’clock in the afternoon, by 3:30 there would be notable differences in the financial condition of the recipients. Within that first thirty minutes, some adults would have lost their share, some would have gambled theirs away, and some would have been swindled out of their portion . . . After ninety days the difference would be staggering. And I’m willing to wager that, within a year or two at the most, the distribution of wealth would conform to patterns almost identical with those that had previously prevailed.”
J Paul Getty
You are off on your math. a million times a million is not a billion, but a trillion. $1 billion divided by 300 million people is only about $3.33.