-- | James E.Thompson, CTO | mens | | Analog Innovations, Inc. | et | | Analog/Mixed-Signal ASIC's and Discrete Systems | manus | | Phoenix, Arizona 85048 Skype: Contacts Only | | | Voice:(480)460-2350 Fax: Available upon request | Brass Rat | | E-mail Icon at
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| 1962 | I love to cook with wine. Sometimes I even put it in the food.
Well, one problem would be that $14T divided by 100e6 taxpayers =3D $140,000 each. Will you be paying cash or by check?
Another problem is that you're forgetting nearly $100T in benefits we've promised but do not yet have any money to pay ("unfunded liabilities").
Another small problem would be that, for instance, all the publicly listed companies in the United States *combined* would go for about $19 T, as of May 2010:
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(Where are you getting this $200T figure, BTW, and where does it appear on the United States' balance sheet?)
Last time I looked, the average taxpayer paid 7500 dollars a year. I also don't believe there ARE 100 million taxpayers. There may be, but I doubt it.
Then there's the compound interest. That 14 trillion becomes triple or quadruple that amount if paid off in twenty some odd years. The way politicians of ALL persuasions spend money is insane.
The average net worth of an American family was $556,300 in 2007 (median was only $120,000), so who owns the remaining 75%-80% of the claimed 200 trillion? Does the government really own 75%-80% of everything in the US? I would have thought no more than 25-30% in a non-communist country.
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Best regards, Spehro Pefhany
--
"it's the network..." "The Journey is the reward"
speff@interlog.com Info for manufacturers: http://www.trexon.com
Embedded software/hardware/analog Info for designers: http://www.speff.com
--
| James E.Thompson, CTO | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
Liberals are so cute. Dumb as a box of rocks, but cute.
They can raise money on it by charge fees to use it, though -- while, e.g., hunting licenses and developed campground fees have been around forever, in the past few decades it seems that many states instituted fees even if all you want to do is to park next to and then hike into a state forest.
It's not 140K each, it's 7% of assets. And don't forget 20% of the population owns 80% of the wealth, and that's why they pay 80% of the taxes. But it's still a small percentage of what they really own.
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"If I weren=92t so lazy I could dig up numbers to at least approximate the values of some of the question marks in the table. Farms own land and tractors, banks own buildings and ATM machines, governments own all sorts of crap including nearly a billion acres of land and all those cars you see on the highway that don=92t have to buy license plates like you and me. And foreigners own a ton of stuff too. For today=92s purposes all we have to know is that these things would add up to a very big number. And plugging these figures into the missing cells in the table would produce a total assets number far in excess of $200 trillion."
Seems a bit fraudulent to count the same assets multiple times, doesn't it? The total value of the stocks in those companies is already counted in the sum of all personal net worth.
Best regards, Spehro Pefhany
--
"it's the network..." "The Journey is the reward"
speff@interlog.com Info for manufacturers: http://www.trexon.com
Embedded software/hardware/analog Info for designers: http://www.speff.com
But you're counting "government" assets, so you're saying those should be sold. If we the citizens tried to pay off the debt--or were taxed-- we'd have to come up with $140K per taxpayer, average.
There he cites the Federal Reserve's Z1 report, page 116 as his source:
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I don't see anything like his numbers reflected there. I see (skimming) the federal gov't has 3-odd trillion in financial assets, at least $12T in debt (they're likely not counting the Social Security debt), and no mention of the benefits we've promised (the unfunded liabilities). Those were estimated around $60T not too long ago, but Obamacare and steep wealthfare(tm) spendulus hikes have exploded those too. Current estimates run as high as $100T, so subtract that off whatever else you get for the federal government's worth.
Rutledge is not counting huge liabilities--big bills we owe--against us. He's wrong.
None of this matters. If you spend more than your income, you have to sell off assets to live. That makes you poorer, day by day--you have fewer and fewer assets. Eventually you run out. That's what our government's doing, on our nickel.
We've run deficits before of course, but never, never like this. We're being made poorer, by our government.
That's change you can't believe in.
-- Cheers, James
He counts foreigners' assets too? That's bizarre.
Let's take a WAG. Spehro gave us an average net worth of $556,300 per family in 2007. That's fallen a lot since, by about a $100K drop in the median house price, and 1/3rd drop in the value of investments.
Even so, let's be generous and say $500K x 100 million families (a guess). That's 5e5 * 1e8 =3D 5e13 =3D $50T
Bill, let me make this as simple as i can. There is some $46T in tangable assets (whose value dropped $13T since this month in 2007) against $141T in DEBT. That is near the established fall over point. Hope this helps you understand.
141 trillion debt seems a little high. Did you miss a decimal place? What is the "fall over point"? Are we falling over a cliff?
Seems to me, the US is still the safest place to invest considering problems in the rest of the world. So, what does it matter what our balance says? Your options are to like it, or to go somewhere else. Where will you go?
They look about the same, 4.5 trillion each. The difference is social security is holding 4 trillion in bonds, which is part of the national debt. The money was loaned to the government, and we want it back, with interest. And any politician that doesn't agree will be looking for a new job.
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