Re: Concept of a Billion...don't even think Trillion
Questions to get everyone thinking......
1) What taxes existed 100 years ago that no longer exist today? Hint: federal income tax didn't exist until 1913 with the passing of the 16th amendment, meaning the federal government collected taxes based on census results. For a short time during and after the Civil War, a federal income tax existed, and was repealed in the 1870's. Basically 100 years ago, states collected a barrage of taxes, fines, fees, etc to then forward to the federal government. Not to mention that some of the items on the list that are "taxed" either A) didn't exist 100 years ago (such as recreational vehicles), or B) there were very few in existence (such as paved roads). However, even back then, things like roads, bridges, and tunnels weren't built for free. They came from tax money collected somewhere.
2) What was the national debt 100 years ago (1911)? Hint: there actually was a national debt. We weren't debt-free.
3) Do we still have the largest middle class in the world? This is a subjective question. 100 years ago, China, India, and Russia had larger populations than the U.S. Out of wealthier countries, the U.S. had a larger population. So at the time, the sheer number of middle class was larger. However, the PROPORTION of middle class compared to lower and upper class changes the picture completely when compared to other wealthy nations of that time. Same is true for today. China has the largest sheer number of middle class, but the proportion of middle class compared to other classes is significantly smaller than many other countries, including the U.S.
4) Did mom stay at home to raise the kids? Again, subjective, and not even accurate for 100 years ago. Many mothers left home to work in factories 100 years ago. That was just to get by in some cases. Compare to today's standards, we live in air conditioned homes that are far larger than the average home 100 years ago. We own multiple cars per family. We have multiple computers per family. We buy things and own things that didn't exist 100 years ago. Somehow that purchasing gap has to be made up, often in terms of a second income. And what was child labor like 100 years ago?
2002 F-250 PSD
Gambling with 250/200's on PMR's.
478hp/851tq on Haller's dyno - 7/28/12
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