Too many zeros for me to understand
Discussion
So if the Americans are injecting $700 billion that's (700,000,000,000) is it? Now in 2007 it was estimated that the US population was 308 million which is (308,000,000) now assuming that maybe 60% of the population are wage earning, tax paying, (i.e no children, pensioner or benefit dwellers) that's roughly 185 million (185,000,000) people who are footing the bill which works out at roughly to be just under $4,000 per tax payer by my sums? So if it's anything like the UK then the "Average wage" is around £25K so we'll say $40,000 at again using UK figures 24% so just under £10K per year in tax revenue?
Are they really about to use the entire tax income for the next 5 months on bailing out the banks? No welfare contributions, no NASA, no "War on Terror", infact no armed forces at all, no money on anything else? Now either I'm missing something here and I suspect it'll be something like their version of corporation tax or the sums just don't add up?
Are they really about to use the entire tax income for the next 5 months on bailing out the banks? No welfare contributions, no NASA, no "War on Terror", infact no armed forces at all, no money on anything else? Now either I'm missing something here and I suspect it'll be something like their version of corporation tax or the sums just don't add up?
Long or short scale, see http://en.wikipedia.org/wiki/Long_and_short_scales
I just don't get the sums. Didn't the USSR effectively fall apart because it went bust and couldn't even afford to pay it's armed forces?
I just can't see how America can stand this sort of cost on top of everything else it's paying for, if it was a business the directors would be struck off for trading while insolvent
I just can't see how America can stand this sort of cost on top of everything else it's paying for, if it was a business the directors would be struck off for trading while insolvent
mel said:
I just don't get the sums. Didn't the USSR effectively fall apart because it went bust and couldn't even afford to pay it's armed forces?
I just can't see how America can stand this sort of cost on top of everything else it's paying for, if it was a business the directors would be struck off for trading while insolvent
The American economy is huge on a scale that dwarfs every other "rich" nation. If you combined the economies of every EU country it would only just be slighlty higher than the economy of the USA. Thats not to say those numbers are not a big chunk mind you.I just can't see how America can stand this sort of cost on top of everything else it's paying for, if it was a business the directors would be struck off for trading while insolvent
tload of money whichever way you look at it.They don't just raise tax from earning. There is corp tax, VAT, road tax, etc, (not sure if they have all of these in the US but certainly there is a lot more than just income tax).
The second thing is that they don't have the money. They are pushing through a bill to allow the national debt to be raised by about 6% to something stupid like 11.1 trillion dollars! Won't be paid back for years in real terms, (if ever).
The second thing is that they don't have the money. They are pushing through a bill to allow the national debt to be raised by about 6% to something stupid like 11.1 trillion dollars! Won't be paid back for years in real terms, (if ever).
mel said:
Now I'm really lost WTF is a Trillion and how many zeros in that ?
Well if the money being raised is 700 billion which we have established is in American money then approximately 6% of 11 trillion equals 700 billio hence 11 trillion is 11,000,000,000,000.1 trillion equals 1000 billion.
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