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So the national debt is somewhere in the neighborhood of 8 or 19 trillion dollars now, and goes up by the second if you go with what the debt clock says.
could of sworn someone said it was 9 trillion? Maybe that was just for this year or this presidency.
Anyway how can we address it. Well there is 2 sides to attack.
First side is simply cut spending...that would keep it from growing. But stopping its growth is only part of the battle now, you also got to get it down.
So the nature of the game is in another post
So I heard that there is enough debt that each of the 300,000,000 + Americans owe at least 14000 or 24000 dollars of debt.
Obviously this would keep going. So its unfortanate, but guess whose paying for it.
We'll use the same rules as Obamacare.
on line 75 we will multiply the number of dependents you have by 14K or 24K or whatever that actual number should be. And you can start paying it down. Your refund will go to pay it off.
line 76 is your refund. line 77 is your tax liability if you have one. If you have a tax liability we'll be nice and you won't have to pay your balance.
It will just carry over to next year...exactly like the 2008 first time home buyers credit. There are 3 versions. If you got the first version, you have to pay that credit back 500 dollars per year.
and like Obamacare, if you claim a dependent, you are responsible to pay off his national debt.
With multiple people, we will use the FIFO method. the debt that is paid off first is the Taxpayers. Then Spouse, then dependents. When the dependents go off on their own they collect their unpaid national debt liability.
this has the additional benefit of sparing the government losing money through refunds.
So I was playing around a calculator at work
so I kept multiplying different combinations of dollar figures and population.
300,000,000 * 14000
315,000,000 * 34000
by the 3rd one I only get to 10 trillion... specifically 10,710,000,000,000
natianal debt is at 19,000,000,000,000 So this still requires some number crunching
the 300 million numbers are us population
the 14K, 24K and 34K is what each American person would have as his share of the national debt