Millionaire Money-Pool For The Poor

I don't know if this is where this belongs. If not, apologies in advance and please put this where it belongs.

This is something that I have pondered for many years.
Why couldn't all millionaires, in any state, all pool a lot of their money, into a single source, bank account or whatever, where it can make interest and give that interest to the interested(poor folk). If, for example, all of that money in a month could earn, say, one million dollars per month in interest, then take that money and choose 10 poor people in that state every month to recieve one hundred thousand dollars each. The next month, do it again and again! The more money, the more people who can be helped. The reason that the amount needs to be $100,000 for each person is because realisticly that's about what it would take, in my weak mind, to really change someones life for the better.

Can you imagine what it would do for the economy?? Unlike people with money, poor people will spend it on clothing, electronics, furniture, so on and so forth. It would be a win-win situation for everybody. Also, if people wanted to doante to it they should be able to just like the lottery tickets. Look at how much money lotteries get each week, This could spell the end of suffering for a lot of people and make the world a much better and safer place.

They could sell tickets, like the lottery, each month, and the people would wait for the drawing, which really would be the selection of the ten people, or however many. All hoping for a chance at a better life, but, with better odds than the lottery. I'd like to hear some chatter about this and thank you in advance if you participate.

Because that would go against everything these fuc**** stand for.

1. If they sold tickets the poor would spend every dime they had on tickets to become rich and someone would profit off of these tickets and learn how to take advantage of it.

2. Generally people don't care.. For instance why hasn't the poor donated to the very poor, the middle to the poor, the rich to the middle and the poor, so on and so forth. People are so wrapped up in what they are doing for themselves they don't want to slow down their progress to help someone that generally also doesn't care about them.

3. People who usually end up winning the lottery seem to have their lives destroyed anyways.

I like the way you think but money is only an idea ;/ the bad thing is most of the population shares this idea.

The odds would be almost the same as the state lottery. Also you said it your self without education most poor people would not know what to do with that type of money and more the likely it would be spent in a matter of months. You also need to factor in the people in the state that do not deserve the money... Drug users alcoholics so on and so forth.

What the rich folks in this country could do is use there money for huge social engineering projects. This would create jobs and that's what people really need is jobs. A job that can support a family. So I don't mean McDonald's .
I would say 25-30 an hour depending on cost of living in that area.

I live in NYC and most union jobs here pay between 30-40 per hour with good benefits,retirement package, and some other very nice perks. You take home a decent paycheck at the end of the week and can raise a family without worrying about the next meal..

Other then that education is really the key . Education and opportunity . Give a man a fish and he has dinner teach him to fish and he can eat forever . Something like that..

Alright this wouldn't work at all.

How many teenagers will whine for money until you give it to them, because you gave them some money for doing nothing once?

Yeah.

I'd rather all the millio.. billionaires get together and figure out how to inspire people. Then, the people that take it seriously and actually try to change their lives can get free money from the billionaires, for a % of the profits. Win win for both.

I wonder if the OP just wants $100K lol

When I was just a little guy, my Grandfather told me;

"based on math, lotteries were simply an additional tax on the naive!"

Although said to me many years ago.. it still rings true today in my mind.

Originally posted by MrMaybeNot
Because that would go against everything these fuc**** stand for.

PNC Wealth Management Study: 59% Of Millionaires Feel Obligation To Give Back
www.huffingtonpost.com...

Now if we depend on the government to channel their money, you wont see any of it, ha

250,000 dollars to plant a shrubbery.

I completely understand where everyone is coming from but what if these millionaires pool that money into a factory in every state. Build it! Then build the top 10, for the sake of argument, the top ten most common things found in stores in America. You know that all those things were made in China. Why can't we do it? I'm just thinking that people could do more.

reply to post by Fylgje

Why couldn't all millionaires, in any state, all pool a lot of their money, into a single source, bank account or whatever, where it can make interest and give that interest to the interested(poor folk).

There is no reason they can't do so! As a matter of fact, your idea is nothing new, and many millionaires, and billionaires, have been doing that very thing for many years. Quite often those groups of rich entities are called foundations, and individual participants are called philanthropists.

Can you imagine what it would do for the economy??

I don't need to imagine... I can do the math!
10 people x 12 months x 50 States=6,000 people per year
6,000 people x $100,000 spent per person per year=$600,000,000 being spent per year
In answer to "what it would do for the economy?":
Not much!

See ya,
Milt

i really hope youre not planning on voting this year.


youre idea is absurd and pure fantasy and simply not feasible.


"the rich" generally put their money where its going to make them more, thats why they are "the rich". and a lot of them already donate amounts of money that would make your head spin.

with your plan all that would happen is the money would get taxed into oblivion because you cant just give somebody $100,000 because you feel like it. not the way things work.

also, id be willing to bet that 90% of those who would receive the money would be back in the same spot soon because they simply manage their money poorly. the money would be most likely to end up right back in the hands of "the rich".

think of it this way, a guy owns a successful car dealership. he donates into your fantasy fund, the money gets handed out to some poor person who has never seen more than $500 at once. they go out and buy a brand new car for $60,000 from guess who? they cant afford that car, cant afford gas for it, cant afford repairs and after 6 months, car is repo'd.

right guy still rich, poor guy still poor.

maybe thats a pessimistic and overly simple view. but id be willing to bet it would happen quite often.


just please dont vote if those are the ideas you have and think should be pushed for. fantasy (aka hope and change) are not realistic and dont work.

Give a poor person $100K and 9 times out of 10 he'll spend almost every dime of it on material objects. Or he'll use that to borrow more money and end up in deep debt. He has no financial literacy, and doesn't know much more to do with money than to spend it.

It's not a good idea. Bankruptcies will increase.

I think that a lot of people would pay off their morgage or any other monies owed and be free and clear to a better life. Why do some of you think that every poor person is dumb and would just blow that money and end up in more debt? That's where I have to disagree. There would probably be some that would do that but I'd like to think that there would be some starting their own buisness' or even helping a family member or close friend out of debt.

But even if some ended up broke then that's their problem. They were given a chance. For some it could be a start to success. And it would have to boost the local economy a little. Not everybody would buy a $60,000 car either.

reply to post by pngxp


I will be voting this year and writing in Ron Paul. I'm not for and have never been for Obama and his fake hope and change. I knew better. If you wanna disagree with me, then disagree with me. Don't try and insult me, there pilgrim.

How about this.

The poor get an education and get jobs?

It is an admirable idea but at today's current interest rates ....it aint gonna solve anything.

reply to post by Wildbob77


You think the answer is education? lol. Are you being serious or trolling? I can't tell.
Again, most poor people aren't dumb. A lot do have an education but there are no jobs. If you're talking about the small percentage that is dumb and lazy by DNA, they are everywhere but all we can do is try and help them too. I'd give people the shirt off my back if I could help them as long as they're not idiots. I've given people my last dollar and will probably do it again. Maybe I'm just too nice but I would like to help people. The world is a cold, selfish place and getting worse.

reply to post by Fylgje


There are fields, right now, that are short of people. There are areas of the country that are hiring.

If the poor are not stupid, then they can figure out where to look for a job and/or what fields are in need of people.

I'm not trolling. I am serious.

So to recap, people with money give people without money their money just because they'll use it to buy stuff?

That what you're saying?

reply to post by Fylgje


not a personal insult to you by any means.

it is an insult to those who would vote for obama again though. ill stand behind that.


unfortunately ron paul doesnt have a real chance and a vote for him is basically 1 more for obama. paul isnt going to win. thats just how it is. i wish more would be focused on simply getting obama out than voting for the individual they prefer. we need a drastic ideology change, paul/romney/newt, any of them would be better and that should be the focus.


and i dont think every poor person is dumb, but a lot of them probably are. quite possible that is why they are poor. they are dumb and make a lot of bad decisions. thats life. there are also lots of smart poor people and dumb rich people. look at athletes who can barely read or write but make millions because they offer up other skills for their paycheck.


the point is, a lot of people wouldnt know what to do with $100,000 if theyve never had it before. and ultimately, it would probably end up right back where it started because the people that are where the money came from are there for a reason.

Weel, I'll tell you what, give me a hundred grand and lets see, case study, if all of that happens then.