Your Saturday morning quiz
Question 1: What's six trillion dollars in a country of 330 million people*?
- $181 per person
- $1,818 per person
- $18,182 per person
- $181,818 per person
*According to census.gov, the U.S. population is 332,475,723.
Question 2: The number of people earning over $400,000 is a smidge under 1%. According to the Associated Press, half of the $6-trillion infrastructure bill will be paid by corporations and those earning over $400,000. There are 126,580,000 workers. That means that 1,265,800 people (the top 1%) and corporations will pay this half, or $3 trillion. To keep this simple, we will ignore corporate tax increases (since a corporate tax increase would be passed on to consumers via a higher cost of doing business). How much will each earner over $400,000 have to pay to cover this
$6 trillion $3 trillion?
Answer to question 1: c. Question 2:
Nowhere in the WSJ, Politico, or the AP is there any reference to what the $6-trillion infrastructure bill will cost. Nowhere do you read that the per capita accumulated debt is over $86,000 ($28.4 trillion) — ignoring unfunded liabilities.
I'm not sold that there is even a need for $500 billion in infrastructure improvements. Does anyone remember the December 2015 $305-billion infrastructure bill that funded, among other things, the Export-Import Bank, which passed the Senate 83-16?
When will our elected officials start talking about what these projects and bills cost taxpayers? When will taxpayers start electing representatives who will speak the truth to them? When will the media present the full story of what these bills cost taxpayers?
Image: Nick Ares.
UPDATE: This article has been updated to correct errors.
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