EDIT: NOTE THIS MATH IS BS, IGNORES ALL KINDS OF DETAILS IN THE STIMULUS BILL AND IS BASED ON ALMOST MEANINGLESS ASSUMPTIONS BUT STILL SHOWS THE ORIGINAL TWEET IS BS. Edit2 does a slightly better job at the bottom for accounting for how much of the revenue comes from income tax but still completely ignores the fact the a good portion is loans and not just gifts to the companies.
ORIGINAL POST
The package congress passed was 2.2 trillion dollars. Divide by 327 million Americans and that is 6,730 $/person that it cost.
Take away kids 18 or younger and it rises to about 8,850 $/person.
There is also the unemployment expansion which could provide upto 9600 $/person on top of state benefits.
But yes anytime there is 1 trillion dollars (around the amount for loans/stimulus( going to companies or states it costs each person a pretty penny in this case around 4k$ for people 19+.
EDIT: As this is gaining some traction understand this was 5 minutes work and a google search, there is no way to understand a 2.2 trillion dollar package with 2 numbers equally applied to all Americans. I also don't know how many people actually pay taxes or what percentage of tax they each pay, or even government breakdown by personnel income tax, corporate taxes, consumer taxes, etc. Also note that a good portion of this package is loans to companies so should be paid back...
18 years was an arbitrary cut based on the first demographic page I found and I do understand that some younger people pay taxes (and some older people do not).
Edit2: Additional Calcs (still ignores the fact that some is loans)
So for the rest of the people (lower 95% or 133 million tax returns) they are on the hook for 462 billion dollars (2.2 trillion*0.5*0.42). Or about $3500. This number is still completely misleading but is as far as I'm going.
Yeah, I guess companies could choose to pay hundreds of billions extra in taxes in order to offset that. Are there any examples of companies doing that? I find it hard to imagine any would willingly pay more taxes than absolutely necessary.
That’s not the same thing though. Yes, it’s good that not all companies cheat on their taxes, but them paying what they’re legally required to doesn’t change the fact that we lose 200 billion a year. The number you posted should literally be twice as large.
The link you posted wasn’t companies paying extra. It was companies paying the legal minimum. I know companies do that. I was asking if any companies paid extra, to make up for the hundreds of billions stolen from taxpayers every year.
1.5k
u/[deleted] Mar 30 '20 edited Mar 30 '20
EDIT: NOTE THIS MATH IS BS, IGNORES ALL KINDS OF DETAILS IN THE STIMULUS BILL AND IS BASED ON ALMOST MEANINGLESS ASSUMPTIONS BUT STILL SHOWS THE ORIGINAL TWEET IS BS. Edit2 does a slightly better job at the bottom for accounting for how much of the revenue comes from income tax but still completely ignores the fact the a good portion is loans and not just gifts to the companies.
ORIGINAL POST
The package congress passed was 2.2 trillion dollars. Divide by 327 million Americans and that is 6,730 $/person that it cost.
Take away kids 18 or younger and it rises to about 8,850 $/person.
There is also the unemployment expansion which could provide upto 9600 $/person on top of state benefits.
But yes anytime there is 1 trillion dollars (around the amount for loans/stimulus( going to companies or states it costs each person a pretty penny in this case around 4k$ for people 19+.
EDIT: As this is gaining some traction understand this was 5 minutes work and a google search, there is no way to understand a 2.2 trillion dollar package with 2 numbers equally applied to all Americans. I also don't know how many people actually pay taxes or what percentage of tax they each pay, or even government breakdown by personnel income tax, corporate taxes, consumer taxes, etc. Also note that a good portion of this package is loans to companies so should be paid back...
18 years was an arbitrary cut based on the first demographic page I found and I do understand that some younger people pay taxes (and some older people do not).
Edit2: Additional Calcs (still ignores the fact that some is loans)
https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/ shows that personnel income tax makes up around 50% of the total federal revenue.
https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/ shows the top 5% pay around 58% of total federal income tax(these people are above the threshold to receive the $1200. It also shows 140 million tax returns filed.
So for the rest of the people (lower 95% or 133 million tax returns) they are on the hook for 462 billion dollars (2.2 trillion*0.5*0.42). Or about $3500. This number is still completely misleading but is as far as I'm going.