https://issuesinsights.com/2021/12/20/math-for-demmies/
The Biden administration “Believes in Science.” But math – not so much. It seems to have a fuzzy concept of large sums of money as all being just “bazillions.” So here is a little arithmetic using nice round numbers that even the administration and congressional progressives can follow.
There are about 330 million people in the United States. So, if we say that the average family is 3.3 people (mom, dad, one or two kids), then we have about 100 million families. So, on average, each trillion dollars costs each family $10,000. And ultimately, it’s they who pay the lion’s share of taxes.
President Joe Biden recently signed into law an “infrastructure” bill that will cost about $1.2 trillion. That means that each family will pay, on average, $12,000. A person working full time for a year (about 1,800 hours) at the federal minimum wage ($7.25 per hour) makes about $13,050. So good news! You get to keep $1,050 of that for food, rent, energy, and other “luxuries.”
But now the Democrats want a “human infrastructure” bill, which, as they first proposed, would have cost $3.5 trillion, which boosts per-family costs to $45,000. Sorry, Josephine the Plumber and Lewis the Librarian, no Caribbean cruise for you this year.
But there’s more! We still have to pay for Social Security, Medicare, national defense, welfare, unemployment, interest on the existing debt, and a few sundries such as electric vehicle subsidies and endowments for the arts and humanities. Those add up to about another $3.5 trillion. So, add another $35,000 to the above. Don’t go out and buy that Tesla just yet.
The confiscation of resources from ordinary Americans to satisfy the aspirations and whims – good, bad, or indifferent – of the likes of Bernie Sanders, Elizabeth Warren, and Alexandria Ocasio-Cortez exerts an “income effect” that reflects the correlation between wealth and health.