Speculate to accumalate

With the Government telling us that tough decisions have to be made and that we all have to take some pain, when it comes to the Country's finances my question to the Taoiseach and Minister for Finance is do we?

What if we lived in a county where negative equity was a thing of the past, everybody had medical insurance and home helps and care assistants were a given?

No I'm no supposed dickhead economist who would suggest investing children s allowance money in bank shares or investing in the Bulgarian property market, but I reckon I have an idea that would have us all sorted within the year leaving only the greedy, stupid or just downright idiotic behind.

Now this might sound absolutely ridiculous to many but so does paying billions in unsecured bonds to the fat cats.

My idea is that the Irish Government give to every man, woman and child, in this country the sum of €1 million each. There I said it and you think I'm crazy, but there would have to be a few provisions to you getting your money.

1. Every person would have to set up a brand new bank account into which the money would be paid. Each bank account would cost €50.00 to set up and this sum would be taken from your €1 million when it is deposited into your account.

2. There would be no interest paid on your account. But sure your getting a free million so what;s the harm.

3. You have to spend your million by the end of 2013.

4. You can only spend your money on Irish goods or services or buy foreign goods from Irish companies.

5. At the end of 2013 all accounts will be closed and all remaining funds go back into the exchequer's central fund.



With a population of 4.5 million the cost of making everybody a millionaire would around 4.5 billion smackeroos.

The banks would receive a cool €225 million just for setting the accounts up and a tiny proportion of this could be paid to the number of new employees taken on to manage these accounts.

Every person with  mortgage will be entitled to pay of their mortgage's off from their new bank account.

Any person who does not own a property will be entitled to buy a property from their new bank account.

Any person will be entitled to purchase  brand new car from their new bank account.

Any person can purchase holiday's within Ireland or pay to bring loved ones (or not so loved family and friends) home for holidays or for up to the end of the year.

Any person can purchase medical insurance for 7 years but not life insurance from their new bank account.

Any person can go out for meals, drinks, live entertainment from their new bank account.

Any person can buy household goods, or luxury items from their new bank account.

Any person with special needs or incapacity to spend their own money for medical reasons can appoint a family member, guardian to spend the money on their behalf (and only on their behalf) on medical equipment  special need assistants or home helps and contracts can be put in place for up to 7 years.

Children may appoint a parent to look after their money and can be used to set up scholarships, for private tuition, to pay private or public school fees or college fees going forward (which would be lost if the child did not go to college). Food, light and heat can be paid from the child's account also so no child will every be cold or hungry again, but even more importantly Christmas presents for 2013 could be bought from the child's account.

All purchases of goods and services would come directly from bank accounts and all taxes would be paid directly into the central fund.

For the year all Social Welfare payments will be suspended as will any tax relief on wages.

Anybody who died during the year, there bank account dies with them, but funeral expenses can be paid from their account.



Can you imagine this time next year everybody being able to say they own their own home, not having to worry about the health requirements for their families, or schooling needs going forward. Imagine the end of ghost estates, the construction industry back up running, new roads and services. Reduced unemployment, decrease in class sizes, increase in home help. Increases revenues from motor tax, income tax, VAT and PAYE, an introduction of a fair and equitable property tax.

Admittedly, we wouldn't be out of the woods but this is the kind of pain of recession I could live with.

HAPPY NEW YEAR.

G!