The Wealth of Few, the Debts of Many

The Wealth Few, the Debts Many of of The top 1% of Americans earn an average of $16.4 million every year. 14) How much of the average credit card debt or the national debt could this wealth eliminate? Average Credit Card Debt National Debt 2012 Projected s870 billion a *** The national debt is $16,283,161,895,179.85 Credit Card Debt: 2012 Projected 191 $11,453,560,734,889.31 of this debt *** The public holds Number of Credit Card Holders: million 12 Average Credit Card Debt Intragovernmental holdings are responsible for per Credit Card Holder: $4,554.97 $4,829,601,160,290.54 of this debt The average top 1%'s annual income could pay off the credit The average "one percenter" O Doing the Math could pay less than 1% of card debt of 3,600 people at $$ Þ the national debt. $4,554.97 each. Sources: [1] http://money.cnn.com/2012/09/11/news/economy/wealth-net-worth/index.html Ttotal bankruptcy [2] http://www.census.gov/compendia/statab/2012/tables/12s1188.pdf [3] http://www.treasurydirect.gov/NP/BPDLogin?application=np