U.S. 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 cuts: $ 38,500,000,000
Let's 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 the credit card: $ 142,710
Total budget cuts: $ 385
Grok? Got it? Comprende? Verschtehst? Kapisch?
==> now my take on a "1%" family ( remove 6 zeros ):
Annual family of 4 income: $ 2,170,000
: $ 724,425
Effective Federal Tax Rate: 33.38 %
available for further confiscation: $ 1,445,525
==> @ proposed French 75% tax rate: $ 1,627,500
==> whee! they get to keep: $ 542,500