3 ms·
(Couldn’t edit my previous sibling comment as it is out of the edit period) > We owe a bit more than 1 year's GDP. > Most families that own a house owe substa
by rajnathani 3y ago
(Couldn’t edit my previous sibling comment as it is out of the edit period)
> We owe a bit more than 1 year's GDP.
> Most families that own a house owe substantially more than 1 year's income.
Minor nitpick: A country’s income is not the GDP but rather the tax revenue collection. The US federal tax revenue is around $4.5T as of last year, which is just about 20% of the US’s GDP.