I wonder if you know how good that question is.
I can't wait to see the answers.
Surely the
Living Wage minimum wage proponents will be quick to support it.

This will tell us who understands basic economics.

Because How having a million dollars will affect people differently.
But what everyone having a million dollars would do economically is a given.

           Today
Can buy a loaf of bread, for a 1.00.
       (Freshly baked, good stuff)
Can buy a dozen eggs for 2.50.
Can buy a gallon of Milk for 3.25
etc, etc, etc,

If the bread cost, 30.00
If the Eggs cost, 75.00
If the Milk cost, 97.00
etc, etc, etc,    No  Matter,
I am a  ‘MILLIONAIRE’.

           (Another)
Ok, I make 10.00 a hour flipping burgers.
 (7.50 take home pay, after all the deceptions, er, Deductions)

Now, I am making 15.00 a hour.  
   WOW !!!!!!!!!!   Thanks  Bernie  !!!!!!!!!!
  (10.50 take home pay)
But  Bread went up to, 2.49
Eggs to 3.49
Milk to 3.95

But hey,   I am making  15.00 a hour.

Oh Yea, works  Real Well !!!!!!!!!

Only a, ‘Fairy Dust  Sprinkler’, can not see.
  " Tax the Rich "
Because they make a  widget, for .50 cents,
Which you buy, for .80 cents.
But you,  TAXED the, ‘Rich’,
And their ’Tax is .02 cents’.
So now the widget, Cost’s YOU, .87 cents.

Can a,  “Snowflake’ say:
        ‘WHO  Pays  The  TAX "

raydawg wrote on 08/10/17 at 12:40:53:


Of course not. If you ran a store, you would immediately raise prices to preserve your inventory. Economics is based on scarcity. If I had a million dollars, I'd probably first go buy two other motorcycles I'd like to have along with several other thousand people too. Not enough bikes to go around so the dealer's prices go up to the point where his inventory moves at a rate equal to his ability to replace it.

So no, we would not all be rich.We would all be in just about the same boat.

t. If you ran a store, you would immediately raise prices to preserve your inventory.

And if you were a plumber or surgeon, your prices would go way up.

When the amount of money in circulation increases without a corresponding increase in goods and services available for purchase, you have inflation.

The reason I Go straight to economics is because your hypothetical question is an economic question.

The bigger question would be after 5 years how many of the people would again be poor and what % of the people had all the money?

Thanks for the replies!

So, would I be correct is stating this.....

Presently, as we view what a million dollars could do in our life, immediately, IF........  it still represented the same value.

But can it?

Would our understanding of its "ability" to assure us comfort, etc, change, when everyone else has a million too?

If yes, then how was our fix, not a real fix, after all?

Lets say our well meaning political leaders, wanted to just help out the poor, have nots, the under-privileged, etc, and gave everyone in need of a million dollars, the money.
It would in their eyes, level the playing field, give everyone a fair chance, etc.

How caring and compassionate is that, awesome.

If folks had that kind of money they could then be less dependent upon the goverment to meet their needs, and now with wealth, participate on more equal footing with others, in the game of life.  

I like it........

No?

Why