Utopian Math
Last year the GDP of the United States was roughly 14T.
Which worked out to about $46K in gross domestic production for every man, woman and child, assuming that earnings were 100% socialized across all citizens (and closed borders prevented illegal immigration from the countries bordering ours with per capita income of $14K and $38K.)
Which is fantastic, until you notice that the per capita debt we have on our external national debts comes to about 44K, or 94% of our GDP. But that's okay, that's just the debt. The debt service is only about $450 billion, or roughly 3% of the GDP, so say about $1.4K. Still not so bad, right? But let's throw in the entire Federal budget at 1.3T in taxes raised and now we're at about 9% of GDP to Federal taxes alone, about $4.3K before you pay any state or real estate taxes. Okay, we're still doing okay with about $41.7K in income per person. (Pay no attention to the extra trillion the government spent this year WITHOUT raising taxes, it just goes onto next year's debt service, and we'd save a trillion in this socialization scheme, anyway.)
Now how about medical care? It's coming in at 16% of GDP, so that's another $7.4K, so we've got $34.3K now.
Food? It's variable, but seems to come in around 10-12%, roughly 100 per person per week, or $5K/ per year. (I think this is high, my family of four spends $12K/year on food, but I cook from scratch and grow some of my food.) But now we're down to $29.3K/year.
Housing? About 14% of GDP = $6.4K/year
Education? About 5.7% (which sort of takes over most of the real estate tax issue.) = $2.6K/year
Transportation? A wild guess, perhaps $3.3K/year?
So now we've given everyone equal income and equal taxes paid, medical care, housing, education, food and shelter and we've spent $29K per man, woman and child, leaving a total of $17K for everything else: State taxes. Personal debt service. Investment. Savings. Entertainment. Pet care.
This, then, is the Utopian ideal: each person would be able to live on $46K/year if everything went absolutely perfectly.
Pretty cushy. But still not life in a castle on a mountain top estate.
Which worked out to about $46K in gross domestic production for every man, woman and child, assuming that earnings were 100% socialized across all citizens (and closed borders prevented illegal immigration from the countries bordering ours with per capita income of $14K and $38K.)
Which is fantastic, until you notice that the per capita debt we have on our external national debts comes to about 44K, or 94% of our GDP. But that's okay, that's just the debt. The debt service is only about $450 billion, or roughly 3% of the GDP, so say about $1.4K. Still not so bad, right? But let's throw in the entire Federal budget at 1.3T in taxes raised and now we're at about 9% of GDP to Federal taxes alone, about $4.3K before you pay any state or real estate taxes. Okay, we're still doing okay with about $41.7K in income per person. (Pay no attention to the extra trillion the government spent this year WITHOUT raising taxes, it just goes onto next year's debt service, and we'd save a trillion in this socialization scheme, anyway.)
Now how about medical care? It's coming in at 16% of GDP, so that's another $7.4K, so we've got $34.3K now.
Food? It's variable, but seems to come in around 10-12%, roughly 100 per person per week, or $5K/ per year. (I think this is high, my family of four spends $12K/year on food, but I cook from scratch and grow some of my food.) But now we're down to $29.3K/year.
Housing? About 14% of GDP = $6.4K/year
Education? About 5.7% (which sort of takes over most of the real estate tax issue.) = $2.6K/year
Transportation? A wild guess, perhaps $3.3K/year?
So now we've given everyone equal income and equal taxes paid, medical care, housing, education, food and shelter and we've spent $29K per man, woman and child, leaving a total of $17K for everything else: State taxes. Personal debt service. Investment. Savings. Entertainment. Pet care.
This, then, is the Utopian ideal: each person would be able to live on $46K/year if everything went absolutely perfectly.
Pretty cushy. But still not life in a castle on a mountain top estate.