what is the total gross income of all americans?
I'm trying to understand what the effective (net) of all income tax paid is as a percentage of the gross total earnings. hypothetically - would the government gain more to simply collect 10% from everyone versus all the deductions and filing pains.
- Anonymous1 decade agoFavorite Answer
$33,070.30 per person (most recent)
$9,780,000,000,000.00 gross national income (most recent) US statistics.
$33,070.30 per person, gross national income (per capita) (most recent) by country -- United States.Source(s): NationMaster.com
- 7 years ago
Yeah, but the money we borrow from china is spent buying weapons made by American companies and giving them to countries like Afghanistan, Iraq, Syria, lybeia. Which includes having to have a military force there to train them and all weapons, the money is given under various techniques but ultimately the weapons will eventually be used to kill Americans and Europeans let alone the own citizens. For example, when we left Iraq, and Afghanistan we leave behind weapons and valuable materials for weapon manufacture which is not included in the account of the financial aid given to them. The actual fiscal budget is much lower than the 38%. As far as taxes, there is a 13% personal income tax on all American workers. 6.5% is paid out of your wage/salary and 6.5% by the company you work for unless you work for your self which than you pay the full 13%. If that is paid equally by all Americans it would completely pay for Medicare, social security and "Obama care". However it is not. The cap taxable income is 80,000 which means that if you make 1 billion a year you give the same as someone who makes only 80,000. The only reason why there is unemployment and people that require subsides given by the government like food stamps, is because a company/CEO/owner dose not pay there employee a livable wage. Instead they give them selves several millions of dollars if not several billions. Money that could never be spent by them in hundreds of life times. Which is than money that is completely removed from the economic system. The top 10% of Americans make about 50% of all income! and the top 1% makes over 20% even if per year the top 1% spent 5% of there income that would mean a 15% of money being removed from the economic system! which is why we have inflation. Most of the national debt is due to inflation of the money owed, rather than actual spending.
- Bob FLv 71 decade ago
To put the above number into perspective, the fiscal 2012 budget is about 38% of that figure.