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$85,210
- Thread starter Shaul
- Start date
Pete in Panama
Active Member
Interesting, I got $65,821.63, but that's just the public debt and it excludes the intergovernmental debt which would bring it up to $84125.61. You may using a number based on a 2019 number for population or something but that's really not here nor there.
What IS important is that if u want to consider what the U.S. owes --iow it's liabilities-- you have to also take into account its assets --the money & valuable stuff the U.S. gov't has on hand. Seems that when u add up the value of the federal land, the real estate, the battleships, the paintings at the Smithsonian, etc., u get a bit more than the $21T we've borrowed.
Something else is the fact that if we're talking about the solvency of the American people we got to consider assets along w/ the debts there too. You might be happy to know that all the private net worth (assets - debts) in the U.S. divided by the population comes out to $390548.23 --that's for every man, woman, and child in the U.S. Just think, the average family of four in the U.S. has over a $million --ain't life great!!!
What IS important is that if u want to consider what the U.S. owes --iow it's liabilities-- you have to also take into account its assets --the money & valuable stuff the U.S. gov't has on hand. Seems that when u add up the value of the federal land, the real estate, the battleships, the paintings at the Smithsonian, etc., u get a bit more than the $21T we've borrowed.
Something else is the fact that if we're talking about the solvency of the American people we got to consider assets along w/ the debts there too. You might be happy to know that all the private net worth (assets - debts) in the U.S. divided by the population comes out to $390548.23 --that's for every man, woman, and child in the U.S. Just think, the average family of four in the U.S. has over a $million --ain't life great!!!
Pbbbtttt!!!!
I pay more than that in taxes every year.
I pay more than that in taxes every year.
I agree. It's time the rich and the corporations which manipulate the tax code to pay less than their fair share or nothing at all pay up.
And we need to keep Democratic administrations in office since the deficit gets worse with borrow and spend Republicans in office.
We Never Know
No Slack
Shadow Wolf
Certified People sTabber
Yup. Those mega corporations raking in millions in profit and getting a $0 tax bill, along with offshore tax havens are really dragging us down.
Audie
Veteran Member
Suave
Simulated character
I just got caught up with paying back child support and taxes. I'd be more than happy paying my share of national debt in lieu of having to pay alimony.
PureX
Veteran Member
It's all just fiction, anyway. Call the "loans" an "investment" and it all vanishes in an instant.
tytlyf
Not Religious
The debt is a good talking point for republicans.
Like clockwork, whenever a spending bill comes up republicans will whine about "children and grandchildren debt."
It's an emotional political play.
Audie
Veteran Member
Better living thro' depreciating office buildings.
tytlyf
Not Religious
You'd be surprised how easily a person can be manipulated in politics by using the old "children and grandchildren" line.
Shadow Wolf
Certified People sTabber
Eh. It's pretty bad here. As a compromise I'd even settle with doing away with all the tax breaks and deductions as that alone would significantly change things as then companies like Nike, GE, or FedEx would pay based on their income, and most certainly not get a tax refund (it costs the tax payers billions of dollars every year even though these are billion dollar companies).
Audie
Veteran Member
Something sure worked on you
Audie
Veteran Member
Shadow Wolf
Certified People sTabber
Yeah. Republicans and Democrats are both basically "tax and spend" as well as "cut and spend." They just have different groups in mind when doing those things.
And it's also by state. Indiana doesn't have a progressive tax system, at all, so even though I never was able to get out of poverty there my state taxes at $5.15/hour when I first started working and $13/hour when I left was basically the same and unchanged.
In it California it is progressive, so although I am making more than I was in Indiana my state taxes are lower, and won't be the same as I had in Indiana until I'm at $40,000/year.
Audie
Veteran Member
40k isn't enuf
Shadow Wolf
Certified People sTabber
I'd be happy with it. But I was only making half that as a case manager in Indiana, with only 15-16000 left in my pocket after taxes.
It's quite embarrassing to be a white collar professional and apply for and receive low income benefits, but I was.
ecco
Veteran Member
I'm sure your kids would be happy if you paid your fair share of their upkeep.
Lol, that's more than I make in 3 or 4 years. Elon Musk can pay my share.