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Monday, June 23, 2014

Do the Math

Think about this number: 1,934,919,000,000

It barely makes sense. We would use a number such as this to describe the number of stars in the universe or grains of sand in all the beaches of the world or cells in the human body. (These metaphors are figurative, not literal.)

But the number $1,934,919,000,000.00 actually refers to federal tax revenues as of the end of the fiscal year in May.

According to the Monthly Treasury Statement -

"Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000."

That's approximately 22,000 TONS in $100 bills. A stack, again in $100s, that would reach 120,000 MILES above the surface of the earth. In rough figures, that's $6,000 per year for EVERY man, woman, and child in the country. You do the math.

The vast majority of this amount comes from the ever-tightening wallets of middle-class Americans, and is increasingly borne on the shoulders of the young.






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