Real Debt Clock: Find Out How Much Of The US National Debt You Owe
The current national debt is
$19,000,000,000,000
There are 320,000,000 people in the US so we each owe
$150,000
That's not accurate!
How much you owe is based on how much you make. Not everyone pays the same in taxes, so not everyone owes the same share of the national debt.
Think of the debt as the tip you forgot to leave. It would be absurd to split the tip evenly with everyone at a restaurant, you tip based on the price of your meal.
Luckily The IRS knows exactly how much we forgot to pay each year.
Debt Corporate Unpaid Individual Unpaid
2015
So lets figure out how much of the unpaid individual tax is yours...
Three year olds don't have income, so they don't pay taxes. A janitor can't owe more in taxes than he made working. Hence we tax income, not people, that's why its called income tax not people tax. We tax money because people and businesses use infrastructure to make money. The more money made, the more infrastructure used, the more taxes needed to create that infrastructure.
I don't agree with how the deficit money was spent.
Yet you still paid your taxes each year which validated the spending.
I'm a libertarian, I don't belive in taxes.
If you're not in jail for failing to pay them, you're not a real libertarian. If you are in jail and reading this, you're using government infrastructure called the internet. Or we could be wrong you dug a fiberoptic line from your jail cell to the GitHub server where this is hosted and paid for all the land use rights along the way as well as a militia to defend it and are truly a libertarian. In which case you are exempt from the national debt and we apologise for unfairly grouping you in with all the other citizens who do use government provided infrastructure to make money.
It is impossible to calculate what everyone owes exactly.
Then it would be impossible to do your taxes, yet you figure that out every year.
What about people who died?
That's one way to stick the rest of us with the bill, its a high price to pay though.
Is the national debt a subsidy?
Yes it is, by definition its money the government spent on you that you did not pay back, and the wealthier you are the more of a subsidy you get every year.
So rich people get more handouts than welfare recipients?
That's what the real math tell us. The goal is not to punish rich people, its to stop disparaging poor people.
Nah, I think this data is incorrect.
This document is being reviewed by the public as well as economists, as those reviews come in we'll make updates and ensure the data is correct. It's more correct than the more popular average Debt Clock. You can also check an/or correct the code on GitHub.