$2 Trillion Divided by 145 Million . . .
March 7, 2021
. . . is $13,793. That’s the average cost per taxpayer of the new $1,400 checks that some of them are being promised. (145 million is the approximate number of federal taxpayers according to the IRS).
If every single American citizen were give $1,400 it would cost about $435 billion. Not that everyone will get a check — those earning above $80,000/year are “phased out.” I wonder what all the rest of the “COVID relief” money is for.
Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
Senile Joe Plays Santa Claus