How Much to Tax the American People to Pay Off the Public Debt

HOW MUCH WE NEED TO TAX 7HE AMERICAN PLOPLE TO PAY OFF THE PUBLIC DEBT 10 America is in a debt crisis, and the contentious question of how to pay off this debt is examined below. HITTING THE DEBT CEILING From 2000 to 2011, the national debt has grown nearly 155%. $14.3 TRILLION $5.7 TRILLION 2000 2011 EACH TAXPAYER'S INDIVIDUAL RESPONSIBILTY One suggestion to recoup the huge public D debt is passing the burden on to the TD taxpayer. If the 14 trillion dollar debt were evenly divided among the 144,103,375 taxpayers, each taxpayer would owe an additional $84,966. $84,966 TAX BURDEN VS. MEDIAN HOUSEHOLD INCOME The feasibility of having individual taxpayers shoulder such an amount becomes even less feasible when we look at the median household income from the 2011 Census abstract. $84,966 PAY DOWN THE DEBT $50,303 MEDIAN HOUSEHOLD INCOME CATCHING UP WITH OUR GDP Since 2000, the rate at which our public debt has been increasing has far outstripped the rate at which our GDP has increased. Soon we will owe far more than our country's value. $5.67 TRILLION 2000 $11.2 TRILLION $5.80 TRILLION 2001 $11.3 TRILLION $6.22 TRILLION 2002 $11.5 TRILLION $6.78 TRILLION 2003 $11.8 TRILLION 2004 $7.37 TRILLION $12.2 TRILLION $7.93 TRILLION 2005 $12.3 TRILLION 2006 $8.50 TRILLION $13.1 TRILLION 2007 $9.00 TRILLION $13.7 TRILLION $10.02 TRILLION 2008 $14.3 TRILLION 2009 $11.9 TRILLION $14.0 TRILLION 2010 $13.5 TRILLION $14.4 TRILLION *2011 $14.3 TRILLION $15.0 TRILLION *2011 GDP & DEBT ARE ESTIMATES SKY'S THE LIMIT By 2015, our national public debt will be 102% of our gross GDP. 95% 102% 2011 2015 SOURCES: CENSUS, 2011 I BEA.GOV, 2011 I HERITAGE FOUNDATION, 2010 I REUTERS, 2010 I TREASURYDIRECT.GOv, 2009 I IRS.GOV, 2008 I DATA360, 20111 TurboTax USGOVERNMENTSPENDING.COM, 2011 Choose Easy. $3 TRILLION $3 TRILLION $6 TRILLION $6 TRILLION $9 TRILLION $9 TRILLION $12 TRILLION $12 TRILLION $15 TRILLION NOITINI SIS HOW MUCH WE NEED TO TAX 7HE AMERICAN PLOPLE TO PAY OFF THE PUBLIC DEBT 10 America is in a debt crisis, and the contentious question of how to pay off this debt is examined below. HITTING THE DEBT CEILING From 2000 to 2011, the national debt has grown nearly 155%. $14.3 TRILLION $5.7 TRILLION 2000 2011 EACH TAXPAYER'S INDIVIDUAL RESPONSIBILTY One suggestion to recoup the huge public D debt is passing the burden on to the TD taxpayer. If the 14 trillion dollar debt were evenly divided among the 144,103,375 taxpayers, each taxpayer would owe an additional $84,966. $84,966 TAX BURDEN VS. MEDIAN HOUSEHOLD INCOME The feasibility of having individual taxpayers shoulder such an amount becomes even less feasible when we look at the median household income from the 2011 Census abstract. $84,966 PAY DOWN THE DEBT $50,303 MEDIAN HOUSEHOLD INCOME CATCHING UP WITH OUR GDP Since 2000, the rate at which our public debt has been increasing has far outstripped the rate at which our GDP has increased. Soon we will owe far more than our country's value. $5.67 TRILLION 2000 $11.2 TRILLION $5.80 TRILLION 2001 $11.3 TRILLION $6.22 TRILLION 2002 $11.5 TRILLION $6.78 TRILLION 2003 $11.8 TRILLION 2004 $7.37 TRILLION $12.2 TRILLION $7.93 TRILLION 2005 $12.3 TRILLION 2006 $8.50 TRILLION $13.1 TRILLION 2007 $9.00 TRILLION $13.7 TRILLION $10.02 TRILLION 2008 $14.3 TRILLION 2009 $11.9 TRILLION $14.0 TRILLION 2010 $13.5 TRILLION $14.4 TRILLION *2011 $14.3 TRILLION $15.0 TRILLION *2011 GDP & DEBT ARE ESTIMATES SKY'S THE LIMIT By 2015, our national public debt will be 102% of our gross GDP. 95% 102% 2011 2015 SOURCES: CENSUS, 2011 I BEA.GOV, 2011 I HERITAGE FOUNDATION, 2010 I REUTERS, 2010 I TREASURYDIRECT.GOv, 2009 I IRS.GOV, 2008 I DATA360, 20111 TurboTax USGOVERNMENTSPENDING.COM, 2011 Choose Easy. $3 TRILLION $3 TRILLION $6 TRILLION $6 TRILLION $9 TRILLION $9 TRILLION $12 TRILLION $12 TRILLION $15 TRILLION NOITINI SIS HOW MUCH WE NEED TO TAX 7HE AMERICAN PLOPLE TO PAY OFF THE PUBLIC DEBT 10 America is in a debt crisis, and the contentious question of how to pay off this debt is examined below. HITTING THE DEBT CEILING From 2000 to 2011, the national debt has grown nearly 155%. $14.3 TRILLION $5.7 TRILLION 2000 2011 EACH TAXPAYER'S INDIVIDUAL RESPONSIBILTY One suggestion to recoup the huge public D debt is passing the burden on to the TD taxpayer. If the 14 trillion dollar debt were evenly divided among the 144,103,375 taxpayers, each taxpayer would owe an additional $84,966. $84,966 TAX BURDEN VS. MEDIAN HOUSEHOLD INCOME The feasibility of having individual taxpayers shoulder such an amount becomes even less feasible when we look at the median household income from the 2011 Census abstract. $84,966 PAY DOWN THE DEBT $50,303 MEDIAN HOUSEHOLD INCOME CATCHING UP WITH OUR GDP Since 2000, the rate at which our public debt has been increasing has far outstripped the rate at which our GDP has increased. Soon we will owe far more than our country's value. $5.67 TRILLION 2000 $11.2 TRILLION $5.80 TRILLION 2001 $11.3 TRILLION $6.22 TRILLION 2002 $11.5 TRILLION $6.78 TRILLION 2003 $11.8 TRILLION 2004 $7.37 TRILLION $12.2 TRILLION $7.93 TRILLION 2005 $12.3 TRILLION 2006 $8.50 TRILLION $13.1 TRILLION 2007 $9.00 TRILLION $13.7 TRILLION $10.02 TRILLION 2008 $14.3 TRILLION 2009 $11.9 TRILLION $14.0 TRILLION 2010 $13.5 TRILLION $14.4 TRILLION *2011 $14.3 TRILLION $15.0 TRILLION *2011 GDP & DEBT ARE ESTIMATES SKY'S THE LIMIT By 2015, our national public debt will be 102% of our gross GDP. 95% 102% 2011 2015 SOURCES: CENSUS, 2011 I BEA.GOV, 2011 I HERITAGE FOUNDATION, 2010 I REUTERS, 2010 I TREASURYDIRECT.GOv, 2009 I IRS.GOV, 2008 I DATA360, 20111 TurboTax USGOVERNMENTSPENDING.COM, 2011 Choose Easy. $3 TRILLION $3 TRILLION $6 TRILLION $6 TRILLION $9 TRILLION $9 TRILLION $12 TRILLION $12 TRILLION $15 TRILLION NOITINI SIS HOW MUCH WE NEED TO TAX 7HE AMERICAN PLOPLE TO PAY OFF THE PUBLIC DEBT 10 America is in a debt crisis, and the contentious question of how to pay off this debt is examined below. HITTING THE DEBT CEILING From 2000 to 2011, the national debt has grown nearly 155%. $14.3 TRILLION $5.7 TRILLION 2000 2011 EACH TAXPAYER'S INDIVIDUAL RESPONSIBILTY One suggestion to recoup the huge public D debt is passing the burden on to the TD taxpayer. If the 14 trillion dollar debt were evenly divided among the 144,103,375 taxpayers, each taxpayer would owe an additional $84,966. $84,966 TAX BURDEN VS. MEDIAN HOUSEHOLD INCOME The feasibility of having individual taxpayers shoulder such an amount becomes even less feasible when we look at the median household income from the 2011 Census abstract. $84,966 PAY DOWN THE DEBT $50,303 MEDIAN HOUSEHOLD INCOME CATCHING UP WITH OUR GDP Since 2000, the rate at which our public debt has been increasing has far outstripped the rate at which our GDP has increased. Soon we will owe far more than our country's value. $5.67 TRILLION 2000 $11.2 TRILLION $5.80 TRILLION 2001 $11.3 TRILLION $6.22 TRILLION 2002 $11.5 TRILLION $6.78 TRILLION 2003 $11.8 TRILLION 2004 $7.37 TRILLION $12.2 TRILLION $7.93 TRILLION 2005 $12.3 TRILLION 2006 $8.50 TRILLION $13.1 TRILLION 2007 $9.00 TRILLION $13.7 TRILLION $10.02 TRILLION 2008 $14.3 TRILLION 2009 $11.9 TRILLION $14.0 TRILLION 2010 $13.5 TRILLION $14.4 TRILLION *2011 $14.3 TRILLION $15.0 TRILLION *2011 GDP & DEBT ARE ESTIMATES SKY'S THE LIMIT By 2015, our national public debt will be 102% of our gross GDP. 95% 102% 2011 2015 SOURCES: CENSUS, 2011 I BEA.GOV, 2011 I HERITAGE FOUNDATION, 2010 I REUTERS, 2010 I TREASURYDIRECT.GOv, 2009 I IRS.GOV, 2008 I DATA360, 20111 TurboTax USGOVERNMENTSPENDING.COM, 2011 Choose Easy. $3 TRILLION $3 TRILLION $6 TRILLION $6 TRILLION $9 TRILLION $9 TRILLION $12 TRILLION $12 TRILLION $15 TRILLION NOITINI SIS HOW MUCH WE NEED TO TAX 7HE AMERICAN PLOPLE TO PAY OFF THE PUBLIC DEBT 10 America is in a debt crisis, and the contentious question of how to pay off this debt is examined below. HITTING THE DEBT CEILING From 2000 to 2011, the national debt has grown nearly 155%. $14.3 TRILLION $5.7 TRILLION 2000 2011 EACH TAXPAYER'S INDIVIDUAL RESPONSIBILTY One suggestion to recoup the huge public D debt is passing the burden on to the TD taxpayer. If the 14 trillion dollar debt were evenly divided among the 144,103,375 taxpayers, each taxpayer would owe an additional $84,966. $84,966 TAX BURDEN VS. MEDIAN HOUSEHOLD INCOME The feasibility of having individual taxpayers shoulder such an amount becomes even less feasible when we look at the median household income from the 2011 Census abstract. $84,966 PAY DOWN THE DEBT $50,303 MEDIAN HOUSEHOLD INCOME CATCHING UP WITH OUR GDP Since 2000, the rate at which our public debt has been increasing has far outstripped the rate at which our GDP has increased. Soon we will owe far more than our country's value. $5.67 TRILLION 2000 $11.2 TRILLION $5.80 TRILLION 2001 $11.3 TRILLION $6.22 TRILLION 2002 $11.5 TRILLION $6.78 TRILLION 2003 $11.8 TRILLION 2004 $7.37 TRILLION $12.2 TRILLION $7.93 TRILLION 2005 $12.3 TRILLION 2006 $8.50 TRILLION $13.1 TRILLION 2007 $9.00 TRILLION $13.7 TRILLION $10.02 TRILLION 2008 $14.3 TRILLION 2009 $11.9 TRILLION $14.0 TRILLION 2010 $13.5 TRILLION $14.4 TRILLION *2011 $14.3 TRILLION $15.0 TRILLION *2011 GDP & DEBT ARE ESTIMATES SKY'S THE LIMIT By 2015, our national public debt will be 102% of our gross GDP. 95% 102% 2011 2015 SOURCES: CENSUS, 2011 I BEA.GOV, 2011 I HERITAGE FOUNDATION, 2010 I REUTERS, 2010 I TREASURYDIRECT.GOv, 2009 I IRS.GOV, 2008 I DATA360, 20111 TurboTax USGOVERNMENTSPENDING.COM, 2011 Choose Easy. $3 TRILLION $3 TRILLION $6 TRILLION $6 TRILLION $9 TRILLION $9 TRILLION $12 TRILLION $12 TRILLION $15 TRILLION NOITINI SIS