There are only an estimated 153,000,000 tax filers per year. So the real cost of the covid relief bill to taxpayers that actually pay tax is about:
$12,400. 1,900,000,000,000 / 153,000,000 .
To make matters worse, estimated 30% to 40% of US taxpayers won't be getting refunds because they make more than the income thresholds for relief. Those are the taxpayers footing the bill. That's alot of people.
Wait a minute, less than half the country pays taxes? Did I read that right?
153M out of a country of over 330M?!
Yes, something like 40% of americans pay $0 in tax last I heard. There is a big difference between the # of US Citizens and US Taxpayers.
How is that possible? And you said tax filers so that means even people who pay $0 in taxes but still filed, like maybe some business owners who can game the system. Then the unemployment rate is up to like 8% but where does the rest of that number come from? That blows my mind that there's that many people who don't pay, or even FILE for taxes!