Your Amazing Hidden Debt

The National Debt has just surpassed twelve-trillion dollars.

That means every man, woman and child in America owes approximately $40,000.

If you are under the impression that we can just make the lucky rich people pay all of this debt, then think again. The richest man in America is Bill Gates. His net worth is estimated to be around forty-five-billion dollars. We would have to steal all of his money from him plus 20 others just like him to pay off one of those trillions, but we don’t have that many rich people. In fact, you have to throw in all of the money from Warren Buffet, and the Walmart Klan and the rest of the top-ten billionaires (see this list) just to round up one-quarter of a trillion.

After that group, we would have to seize all of Oprah’s money and Ted Turner’s and Martha Stuart’s resources, and the majority of the richest 400 people in America before you finally pay off the first trillion.

Now consider this point: According to The Tax Foundation, in a recent year, there were approximately 134 million tax filers and of those over forty-million were exempt from paying income taxes, (many of them actually get refunds) so somebody else has got to pick up their share.

So, if the richest people can barely make a splash in the bucket of debt, and tens of millions of citizens pay no taxes, who do you suppose is going to be expected to pay it?

Do you have a mirror?

In my next entry I will tell you who you owe the money to and how all of this is affecting you and your family.

Your input is invited!

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