Nothing is certain in life

April 8, 2008

But death and taxes. Forgot who said that. Either way. Think about the tax situation for a bit. We’re NINE TRILLION dollars in debt, since 1776. We’re a really young country, but we have a HUGE national debt. We have an estimated population of 303,810,000 people living in the country. I was unable to find how much was paid in taxes last year, but if each citizen pays $500 in taxes, the government gets $151,905,000,000. If we determine a billion goes to waste in paying the government workers, and ten billion goes towards the country, we have $140,905,000,000. If all that goes to paying the debt, in 63 years we have all of it paid off. Of course, we’ll have higher tax rates then. I know those numbers aren’t CLOSE to accurate, but if we paid MORE in taxes, instead of getting all these tax cuts, people would be slightly less happy, but if we pay $500 more per citizen, then that’s 32 years. Even if we spend even more on the government and fixing things up, we’ll still have it all paid off in about 40-50 years. That’s 1/5th to 1/4th the time we accumulated that. So if you don’t mind paying a bit more for taxes, and if the government gets an actual budget worked out, we’ll be out of debt! The economy will actually GROW! Hasn’t done that in a while. If we time this plan of action to coincide with a spike in the economy, it might bring it down temporarily, but if timed right, the US will prosper, the dollar will go up, and we won’t have an enormous national debt! [I know someone is going to get mad at me, so let me say this!: This is all pure speculation. But if we fix up our budget, this could become true. So don’t blame me if this is wrong. I couldn’t find anything to back me up on this, but just think about it. I don’t care if you think this is bullshit. It might be! I have no experience with taxes, but if we all take one for the team…]


6 Responses to “Nothing is certain in life”

  1. Mike Harmon Says:

    I came across your blog on Technorati. Nice site layout. I will stop by and read more soon.

    Mike Harmon

  2. Wii Owner 3.14 Says:

    The trouble with that is some people just can’t afford to be paying extra. Rates are already at like 15% total income tax, plus property tax and sales tax and all kinds of other junk. It’s got to be extremely annoying to say the least. You are right to dislike the national debt, though. It’s ridiculously embarrassing.

  3. boo. Says:

    The only problem is, the government uses WAY more than 10 billion a year. The war in Iraq? That’s already cost us about 510 billion, and it’s been going on for 5 years. Guess what? That’s 100 billion a year, on a WAR ALONE. So unfortunately, as wonderful as that may sound, it’s impossible. But, the national debt is humiliating, to say the least.

    Also, your comment on “if people are willing to pay more taxes” offended me. Just because you and I live in a highly affluent area, where we have a LOT of extra money to spend, some people are not so lucky. There are people with foreclosed houses who are having trouble to pay for the food to feed their own families!! They probably cannot afford heightened taxes.

    Oh and by the way, I looked up the actual number of government spending per year. In 2006, the national expenditures totaled $2,700,000,000,000. Yeah, 2.7 trillion. Yeah, that’s about 5.1 million per MINUTE. So as nice as that plan would be, not going to happen.

    And true, CJ, there are a lot more types of taxes and other things, and keep in mind social security. 401K plans are costing the government too, but people need money to retire with!! So with all these other taxes, social security, maintaining of the country in general, none goes into paying our debt, just accumulates over the years. The economy is doomed to keep dropping, and soon the dollar will be nothing, nothing at all.

    No, I am NOT pessimistic! It is the facts.

  4. kirbycurse Says:

    Yup. That’s a problem, with war and that. Wishful thinking, mostly, but if the war was over… HINT HINT GEORGE BUSH!… then we wouldn’t be spending as much. Still, wishful thinking. I know, very implausible, but in the ten minutes I spent researching, I didn’t come up with anything. So, I guessed… And came up drastically short.

  5. boo. Says:

    Yes, HINT HINT. And yes, drastically short.

  6. Wii Owner 3.14 Says:

    Well put, CU.

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