11-14-2012, 11:10 PM
Let's say your parents make $100,000 per year. I'm not saying they do, I'm just taking a nice large round number.
Let's say the US has a debt of $1,000,000,000,000. I'm not saying we do, I know it's larger than that. Again, just a nice large round number.
It would take the entire yearly income of 10 million of your parents to pay off the existing debt. It's huge, and it's not going to go away.
%30 of $100,000 still leaves your parents $70,000. Unless you're doing something weird like buying a racecar or taking a summer-long vacation to Monaco, that's still a lot of money.
And it means that if there were 33,333,334 (33 million, 333 thousand, 334; or less than the population of the three largest cities in America and their immediate suburbs) people in America making $100,000 and nobody is making any more money than that, the debt is totally paid off and nobody's going broke. Now obviously it won't quite work like that, because the debt is still rising and taxes go to other places too, like libraries and schools and road construction, but you get the point.
Let's say the US has a debt of $1,000,000,000,000. I'm not saying we do, I know it's larger than that. Again, just a nice large round number.
It would take the entire yearly income of 10 million of your parents to pay off the existing debt. It's huge, and it's not going to go away.
%30 of $100,000 still leaves your parents $70,000. Unless you're doing something weird like buying a racecar or taking a summer-long vacation to Monaco, that's still a lot of money.
And it means that if there were 33,333,334 (33 million, 333 thousand, 334; or less than the population of the three largest cities in America and their immediate suburbs) people in America making $100,000 and nobody is making any more money than that, the debt is totally paid off and nobody's going broke. Now obviously it won't quite work like that, because the debt is still rising and taxes go to other places too, like libraries and schools and road construction, but you get the point.
![[Image: iwn8gk.gif]](http://i46.tinypic.com/iwn8gk.gif)