I think that cutting all the prices will help all of out, tell me what you think. This is about all of the money in the world... if you were to cut down 50% will it help you?
If ALL prices were cut by 50%, all salaries would be cut by 50% and it wouldn't matter. Either that or there would be mad inflation and the prices would just go up again beyond the starting point. It's basic economics. Prices cannot just be slashed without consequences.
What would be better is to not change any of the current wages, but cut the prices to where they were around 40 years ago! I really miss buying gum balls for 5cents
The prices are as high as they are now(at least in the States) for many silly reasons. Which I will not get into, because it will turn into one giant rant. >_<
Maybe not 50%, but a little drop in the price would help a lot. Maybe like...2-5%. And a little bump in minimum wage also. The cost of living is going up amazingly fast when compared to minimum wage, where people are getting hit the hardest. People with minimum wage jobs find it hard enough to get along, and the rising price of everything(even food, sadly) does not help.
If it was done well, it would also help the economy. Lower prices and more money in the pockets of typical Americans(or whoever it may be) means that they would feel like they could get what they need to live, but still have enough left over to spend on other things. It is a win/win outcome.
This is just a horrible economic idea. You want to cut prices 50%? Sure, and you get to tell all the minimum wage workers that they're out of a job because a store can't afford the overhead to pay them. Tell everyone else that their salary has been cut in half. Now you've doubled the value of the dollar, halved the supply of dollars, and put a number of poor people that can least afford to be out of a job on the street.
Prices are the way they are because of economics. If you don't like the cost of things, get a job that pays better. If you can't get a job that pays better, improve yourself until you do.
yes kanethebrain, your right in a way, but the cutting down on every thing will and up in the way it was very fast. But having les money to pay will end up with more money for the goverment and the can fix more stuff like gas prices and jobs and how much food costest
@pc123: Where is the government going to get this money? If you deflate the money supply by half, the government ends up with the same amount of money.
Not to mention this is a silly hypothetical. You can't just arbitrarily cut prices without wreaking havoc with supply and demand, and the increased money supply would force inflation to return prices to the original prices nearly instantly.
Man, I am guessing most of you have never been to Europe... America is cheap comparably. I know I enjoy getting a bottle of Coke for 1.50 out of a vending machine instead of 3-4 Euro. Not to mention gas in Europe is 7-8 euro per LITRE.
If you cut the cost of everything by 50% , it would be the same thing as changing $10 bills into $5, a $100 to a $50, etc. If everything is 50% less, then essentially you are just changing up the currency, with no actual effect on purchasing power.
YA I remember in Europe, when I used to go before things would be so much cheaper, and now because of our stupid government our dollar is so far behind that its everything around the world is so expensive.
Remember how everyone used to brag "the dollar is the most powerful currency, we are so superior" Well I don't hear anyone mentioning anything about the dollar or our superiority. Everything has gone down hill in the last 8 years.
I dont remember anyone bragging about the dollar only 15 years ago £1 was like 10$ but yes the dollar is still weak. But back on topic if everything was cheaper by 50% then the value of money would go down 50% so it would be the same. But i think this thread was to see who would like it if it was true without economics involved and i think every1 would say yes its kinda obvious rele
