National Debt
How much is the national debt?
$33.7 trillion.
What are taxes?
Money a person owes to the government.
Debt is money owed that you cannot pay.
What national sales tax did we make?
10%
Worth nothing: We made how much money with a per sheet paper tax?
$3,720,300,700,000 with a 5 cent per sheet tax, paper will be used less and therefore less trees will be cut down.
Why do we have national debt?
We don't make enough money.
What do you call a person who files someones taxes?
Tax Attorneys
What are expenditures?
Things the government spends money on.
Are there different types of debt?
Yes
Worth nothing: How much money did we make with a national sales tax?
$2,862,279,900,000 Americans spend $5.18 trillion per year at an increasing rate of 5%. with a ten percent tax over five years we will make almost half the current retail revenue.
Government bonds are when you what?
When you buy government debt.
What are examples of tax deductions? Name one.
Donations, owning a house, being married, and having kids.
What is revenue?
Money the government gets.
Who does the United States owe the most money to?
Japan
Worth nothing: How much money did we make with a 10% national property tax?
$23,300,000,000,000 this tax will end after five years and affect the 1% more than the rest of the people because they own more properties
How does the government accumulate debt?
With expenditures.
What are all working American's taxed on?
Their income.
What are tax refunds?
Extra money you paid the government
What industry makes the most billionaires?
The tech industry
Worth nothing: How much money did we make on a per pound carbon tax?
We made $5,404,632,400,000 taxing carbon emissions, this improves the overall air quality by discouraging air pollution.
What does the US government spend most of it's money on?
Social Security.
What type of tax do we have?
Progressive.
What does progressive tax mean?
It means we collect more from people with higher income.
What president got the US out of debt for some time.
Andrew Jackson
Worth nothing: How much money did we make in total?
We made $35,287,212,000,000