California's 'foreclosure capital' $500/month to residents in experimental welfare program

a reply to: neo96


And all a landlord has to do is raise the rent on everything and *poof* that money is gone!

So, of course, the government would have to raise the amount they get, or subsidize more housing, which of course would lead to higher taxes.

originally posted by: neo96
a reply to: DBCowboy

They already did pay taxes.

That's an extra $6,000 dollars a year they have to pay income tax on.

They'll end up owing more taxes.

Absolutely effing brilliant!

Just enough to put them into a higher tax bracket I bet....lol

originally posted by: DBCowboy
a reply to: neo96


And all a landlord has to do is raise the rent on everything and *poof* that money is gone!

So, of course, the government would have to raise the amount they get, or subsidize more housing, which of course would lead to higher taxes.

Ha...yes that is another aspect of this. If they end up doing it for the entire town or even the country, how exactly will they regulate businesses from not raising prices.....

Methinks they dont thinks things through much.

a reply to: Vasa Croe

Methinks they dont thinks things through much.

We are talking about the Peoples Republic of California here.

They never do.

So the part where they'd have to raise everyone's taxes by $600 a month to pay everyone $500 a month must have gone over their heads?

How is it that people still think this is going to work? Do people not realize where the free money comes from?

a reply to: lordcomac

How is it that people still think this is going to work? Do people not realize where the free money comes from?

It grows on trees!

originally posted by: EternalShadow
Those hundred residents should find each other and combine funds to start a business.

$50,000 (guaranteed a month) × 18 months = $900,000

100+ like minded employees to start with as well.

That's enough capital to do quite a bit if folks were smart, and it would flip this "program" on its ear.

That's nowhere near enough money to start a business for 100 people.
Especially in California.
You would use half of that on legal fees and permits.

If 1/4th of the city population is below the poverty line, that's 75,000 people. 75,000 x $500 is $37.5 million, per month, or $450 million per year. According to the California debt clock, California already owes over $427 BILLION in debt... They don't have the money to literally just give away $450 million per year.

Am I misunderstanding something, or is California completely broke?

a reply to: trollz

technically, the whole country is completely broke.

that's how debt based currency works...

hint: it's broken!

Betcha' somebody "in the know" and in on this little experiment has plans to open either a Tobacco Barn or a Liquor Store...or, maybe a few of them!

originally posted by: queenofswords
Betcha' somebody "in the know" and in on this little experiment has plans to open either a Tobacco Barn or a Liquor Store...or, maybe a few of them!

That's exactly what I would do. I had an old aquanitance that ran a day labor company. He leased the space next door and put in a liquor store. Made almost all of the money back every single day that he paid out to the laborers.

Sad but brilliant.

All the corner liquor shops and tobacco huts will be doing well.

The road to hell is paved with good intentions.

They will reach hell very quickly with this approach.

I understand that Stockton is severely "ghetto," but even there will $500/month really go very far? What are rents like?

Edit: Whatever the rents are, I expect we'll see them increase by a few hundred bucks a month soon.

California = entertainment capitol of the nation. Home of Looney Tunes and MAD Magazine. Carry-on....

So it's not the city's money because they squandered it. It's being paid for by a "mogul." So how about see how that works when taxes pay for it?

a reply to: generik

They can use the proceeds from the taxes on recreational weed.

why don't they just stop stealing everyones money in the form of taxes (including all hidden taxes) and they won't have to do this anymore

I vote for we pay ourselves our taxes every year.

originally posted by: jjkenobi
All the corner liquor shops and tobacco huts will be doing well.