(I’m not sure who the original author is. Found this being shared on Facebook)
I love it when complex things are simplified so that we can all understand.
- United States Tax revenue: $2,170,000,000,000
- Fed budget: $3,820,000,000,000
- New debt: $1,650,000,000,000
- National debt: $14,271,000,000,000
- Recent budget cut: $38,500,000,000
Now, remove 8 zeros and pretend it’s a household budget.
- Annual family income: $21,700
- Money the family spent: $38,200
- New debt on the credit card: $16,500
- Outstanding balance on credit card: $142,710
- Total budget cuts which some politicians are proud about: $385
Stop the insanity now. Vote them out and demand a balanced budget.
Please note the The Annual Income as well as the Outstanding Debt figures.
Next add the amount of New and Outstanding Debts together.
Never mind I will do it for you:
$21,700 Yearly Revenue.
$159,210 Total Debt.
159,210 / 21,700 = 7.33 years of living in a third world nation, no Government, no Military, no schools, fire department, police, road maintenance, no social security payments, no imports or exports, no emergency response for natural disasters. NOTHING! And yet we would still be collecting taxes at the current rate in order to pay off national debt. 7.33 years of hell just to get us in the black, plus the cost to get everything back up and running when those 7.33 years are finally over, not to mention the costs associated with repairing the massive amount of damages and decay that would no doubt take place during those dark dark years.
You can’t cut your way out of debt. We need to increase revenues. Taxes need to go up.
.I am sure you believe what you are saying. Keep this in a household mentality…. IF
Your house/ your family did not have enough money to cover costs…(and a lot do not) you would make cut backs.. Hot dogs instead of steak, no dining out, turning lights off when not in use, only driving when you need to, not helping out your neighbor, sorry community college, kids can’t go to Yale this year. no family vacation, and the list could go on.
So just few cuts i could see the Gov. making that would be an inconvenience but not disastrous. Cut yes CUT foreign aide,, take care of home first. If we don’t we will be Third world country as you say, anyway. Stop giving tax breaks to immigrants. Stop having parades fireworks etc. putting Christmas lights up , fourth of July decorations, etc., Yes I like these things, but are they needed when we can’t pay the bills? I could go on and on with things that could be cut without cutting things that are necessary. But I hope you see my point of view.
Taxes need to go up? I really don’t agree, just have everyone pay taxes, at the same rate . Yes a flat tax! 20 % for everyone, poor, middle class and rich. After all everyone uses the services you mentioned. My 2 cents….. Off my soap box
Why America is failing explained in simple English.
US Gross Domestic Product: $14,580,000,000,000
Income for the top 20%: $13,559,400,000,000
Income for the Bottom 80%: $1,020,600,000,000
Tax rate for the top 1%: 15%
Tax rate for the bottom 99%: 40%
United States Tax Revenue: $2,170,000,000,000
Fed Budget: $3,820,000,000,000
Now remove 8 zeroes and pretend it’s a household budget.
Annual Family Income: $145,800
Dad’s Income: $135,594
Mom’s Income: $10,206
Dad’s Household Contribution: 15%
Mom’s Household Contribution: 40%
Combined Household Contribution: $21,700
Total Household Expenses: $38,200
Amount Dad is willing to pull from his Vegas Fund for Grandma’s doctor and our kid’s education: $0
Stop the insanity. If the rich don’t want to pay their fair share, it’s time to for them to find another place to live.
This is a bunch of babble designed to confuse the mathematically illiterate. There is no apples-to-apples comparison – more like apples to watermelons! On this chart, the top 20% income is compared to the taxes for the top 1%. The bottom 80% income is compared with the taxes for the bottom 99%. Huh? Isn’t a significant portion of the bottom 99% also part of the top 20%? Are these the guys who wrote our tax code?!! Why is there nothing on the TAXES for the top 20%, and the INCOME for the bottom 99%? The thing is entirely disconnected! And who deemed that Dad is equal to 20% and Mom equal to 80% of income earners. Why not 50-50? Because it would look ridiculous!.People with agendas love to take advantage of mathematical ignorance within the American populace.
Here are the facts:
Top 1% pay over 36% of ALL taxes.
Bottom 50% pay less than 3% of ALL taxes.
How does that fit in with the apples-to-watermelon comparison the chart was trying to make? It doesn’t. The whole thing is a deception.