Sounds like a Socialist plan to me.

You're not allowing military?

$100,000? What kind of cardboard crackerbox can you get for that?

I have a thirty year mortgage and even as a government employee I've been paying it off at an eight year rate putting an additional $525 a month (whoopie!) down on the premium. Paying off a house isn't always a good financial move - it does make me feel good.

Quoted: I opted to disallow anyone that is connected with the GOV since they have a way with screwing plans

OK that's way rational.

Quoted: Quoted: $100,000? What kind of cardboard crackerbox can you get for that? most of the country isn't quite as outrageously priced as calif.

I've made more than $140,000 sitting in my house for 30 months. My friend is selling his home he paid $142,000 for $270,00 after sitting in it for three years but he lives in a smaller home in a lesser neighborhood.

Quoted: My house is 1425 sq ft. in a decent neighborhood. It was $52k. Just because I can't afford a house in CA, doesn't mean I live in a crackerbox.....Paul.

Most people around here drive more car than that.

$311 mortage payment (assuming a 6% mortgage with zero down) doesn't seem like much of a challenge.

Seriously, on paper the plan appears sound.  But then again, so did Socialism.  We all see how well our kind neighbors to the North and to the South are faring with those agendas.

In addition, this plan lacks total enforcement.  You would end up with persons not fulfilling their obligations and others taking advantage of the total outcome and screwing the rest of the group.

Quoted: Quoted: ....does the term pyramid scheme ring any bells? ... anyone? Please further your ideas. It is like a pyramid the way that it pays out....first come first served but how can I be any fairer than that?

Then it would be a violation of federal laws --- and that might explain why no government employees are allowed. You might want to include the exclusion of the Securities and Exchange Commission employees.

Are these thing called a Ponzi scheme?

In the classic "pyramid" scheme, participants attempt to make money solely by recruiting new participants into the program. The hallmark of these schemes is the promise of sky-high returns in a short period of time for doing nothing other than handing over your money and getting others to do the same.

The fraudsters behind a pyramid scheme may go to great lengths to make the program look like a legitimate multi-level marketing program. But despite their claims to have legitimate products or services to sell, these fraudsters simply use money coming in from new recruits is used to pay off early stage investors. But eventually the pyramid will collapse. At some point the schemes get too big, the promoter cannot raise enough money from new investors to pay earlier investors, and many people lose their money.

Administered Pyramid Scheme:  A varation of a pyramid scheme in which some central person or company is involved in ?administering? the scheme, in making sure that all participants have made the appropriate payments to those above them, or even in collecting these payments and redistributing them to the ?upline?.  The ?Administrator? of such a scheme usually takes some fee for himself.  In this variation, the ?administrator? is assured of some profit, no matter how badly the scheme may work for other participants, because he gets to collect his own fee from every other participant.  These schemes usually collapse much more quickly than regular pyramid schemes, because of their dependence on the administrator, who is easily identified and turned in to proper law-enforcement authorities.