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Forums - General - $52,300 for a family of 4 is what the government needs to collect.

luinil on 03 April 2009
Slimebeast said:
How can the state of United States afford $50,000 on each family of 4? 50,000 Dollars! How can there be so much money produced in the USA??

The short answer is... We can't. In the short term it can be done, but over time we will go bankrupt.

Luinil - Marisa (FE:SS). She's calm, collected, and really likes swords. (Courtesy of Words of Wisdom)
Tag: luinil - "Liberalism is a mental disorder." - Thanks fkusumot!
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stof on 03 April 2009
TheRealMafoo said:

So it looks like the crazy 2010 budget is going to pass. Right now the number that seems to be the real figure is $3.55 trillion. That's $11,700 for every american, so around $46,000 for a family of 4. That's before we even think about paying off the debt. In 2008 we spent 412 billion on interest for our debt alone. in 2009 we will have a much larger debt, so those payments will go up.

With this spending bill and the interest on our debt the total spent by the government on a family of 4 is $52,303 (will go up in 2009). This is before we even think about reducing the debt.

The median household income in the US $50,233.

Why would congress do this to the people it was elected to serve?

 

Because they used the last decade of good times to reign in spending, pay down debt and save up money to spend during any possible recessions that would never happen do to sound management and regulation?



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TheRealMafoo on 03 April 2009
stof said:
TheRealMafoo said:

So it looks like the crazy 2010 budget is going to pass. Right now the number that seems to be the real figure is $3.55 trillion. That's $11,700 for every american, so around $46,000 for a family of 4. That's before we even think about paying off the debt. In 2008 we spent 412 billion on interest for our debt alone. in 2009 we will have a much larger debt, so those payments will go up.

With this spending bill and the interest on our debt the total spent by the government on a family of 4 is $52,303 (will go up in 2009). This is before we even think about reducing the debt.

The median household income in the US $50,233.

Why would congress do this to the people it was elected to serve?

 

Because they used the last decade of good times to reign in spending, pay down debt and save up money to spend during any possible recessions that would never happen do to sound management and regulation?

 

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TheRealMafoo on 03 April 2009

Let me try and put some perspective on this, and hope it drives home my point

I work with 3 people in my general area here at the office that are married with 3 kids. For them, their tax burden is 65,375. If they pay 33% in taxes, they would need to make $196,125 before they were not a burden on this country.

So we are no longer talking about the poor. Someone who makes $150,000 a year, drives a Lexus, goes on vacations, sends their kids to summer camps, and lives in a nice house will have to be subsidized by the rich. Somehow, it’s now the rich’s job to make sure that family is taken care of.

It’s crazy.



HappySqurriel on 03 April 2009

First off, stock markets are not a good indicator of anything except for people's irrational (and often emotionally based) expections of what the market will look like in 6 months ... One of the primary reasons the markets have been rallying is that the markets have been rallying and people are putting their money back into the market for fear of missing their opportunity to make a lot of money; within 6 weeks we will see the markets noticeably lower than they currently are after negative data (or possibly just a lack of positive data) impacts people's confidence, the market drops and people sell for fear of losing everything.

With that said ...

People who support Obama's actions are (primarily) unwilling to consider that the decisions that are being made will make the country and economy far worse in the long run ... Even if the unemployment rate hits 20% and inflation spikes up to 20% they will still believe that it would have been so much worse if Obama's plan wasn't executed.



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HappySqurriel on 03 April 2009
stof said:

Because they used the last decade of good times to reign in spending, pay down debt and save up money to spend during any possible recessions that would never happen do to sound management and regulation?

Just because someone bought a house they couldn't afford does not make it a good idea to pay the mortgage with their credit card when they find their income dropping ...

 



Moongoddess256 on 03 April 2009

I'd like to mention while most families don't make that much, theres a good handfull of people who make millions a year.



[2:08:58 am] Moongoddess256: being asian makes you naturally good at ddr
[2:09:22 am] gnizmo: its a weird genetic thing
[2:09:30 am] gnizmo: goes back to hunting giant crabs in feudal Japan

Moongoddess256 on 03 April 2009

Wait, I don't want to argue with you. You're one of those brick walls I don't like arguing with.



[2:08:58 am] Moongoddess256: being asian makes you naturally good at ddr
[2:09:22 am] gnizmo: its a weird genetic thing
[2:09:30 am] gnizmo: goes back to hunting giant crabs in feudal Japan

Rath on 03 April 2009
HappySqurriel said:

First off, stock markets are not a good indicator of anything except for people's irrational (and often emotionally based) expections of what the market will look like in 6 months ... One of the primary reasons the markets have been rallying is that the markets have been rallying and people are putting their money back into the market for fear of missing their opportunity to make a lot of money; within 6 weeks we will see the markets noticeably lower than they currently are after negative data (or possibly just a lack of positive data) impacts people's confidence, the market drops and people sell for fear of losing everything.

With that said ...

People who support Obama's actions are (primarily) unwilling to consider that the decisions that are being made will make the country and economy far worse in the long run ... Even if the unemployment rate hits 20% and inflation spikes up to 20% they will still believe that it would have been so much worse if Obama's plan wasn't executed.

And even if the economy does rally and recover people will believe it would have been so much better if Obama hadn't pushed this budget through.

 



HappySqurriel on 03 April 2009
Moongoddess256 said:
I'd like to mention while most families don't make that much, theres a good handfull of people who make millions a year.

 

"Median" means the midpoint where 50% of the values are equal to or greater than that value, while it also means that 50% of the values are less than or equal to that value ...

Now, when you eliminate people who are under 30 from the income stastics equations you tend to notice a fairly substantial jump in the mean and median incomes, primarily because you've eliminated a lot of students and people who work in (often part-time) entry level positions ... In the cases I have seen it done, the jump is 25% to 33% when this is done and you see another 25% to 33% jump if you eliminate people under the age of 45 ... What this tells us is what should be obvious, that most income disparity is caused from having less experience rather than there being "rich" people who imbalance stastics.