In my previous post, I said that only those working in the private sector, paying taxes, can pay off the national debt; there being 108 million people working, and a $14 Trillion debt, that's $129,630 each. A friend has pointed out an error in this calculation.
The error is this: just because you have a job, that doesn't automatically mean that you pay any federal income tax. In fact, with tax breaks and dependents, Nearly half of US households escape federal income tax "In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax... The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment."
So only the top 53% of wage earners are actually expected to pay back the national debt. If you are one of the 57,240,000 people earning over $50k/year, congratulations! Your share of the national debt is $244,584.