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Re: The Economy - is it really that bad?
 Originally Posted by wilomn
A trillion is a hundred billion, if I'm not mistaken and a billion is a hundred million. So, a trillion is ten thousand millions of dollars. 10% of that is one thousand millions or 10 billion.
EDIT: I have been informed that a billion is a THOUSAND MILLION and that a TRILLION is a THOUSAND BILLION. These numbers are SOOOOOO big, that I am speechless. If you know me at all, you know how signifigant that really is. END EDIT
To put this in even MORE mind blowing perspective - from FairTax: The Truth, Answering the Critics, by Neal Boortz and Congressman John Linder with Rob Woodall, p. 41:
In our last book we cited studies that showed that Americans and American businesses have stashed somewhere around $10 trillion in offshore financial centers. These offshore depositories hae been growing by more than $800 billion per year. By the time you read this book, that number will be closing in on $12 trillion.
Let's pause a moment to think about how much $1 trillion really is. Such large-scale economic matters are often discussed in terms of trillions, but how many people really understand how much a trillion is?
Let's say you've been told you have to wait for something very special for one million seconds. How long would your wait be? A little more than eleven and a half days. But what if you had to wait for one billion seconds? Well, you'd be waiting a little longer: try almost thirty-two years.
And for one trillion seconds? We'll round it off to 31,700 years. Kind of takes your breath away, doesn't it? (Then again, it's always nice to have something to look forward to...)
If you aren't familiar with the Fair Tax or have never heard of it, please take time to either read both books on The Fair Tax, or visit http://www.fairtax.org - I truly believe that if the Fair Tax were enacted, our economy would be in awesome shape, businesses would come back home, and companies overseas would be moving their companies here to take advantage of not having to embed taxes in their costs.
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