[mtdjed]

Today's Daily Sun Associated Press Article on Billionaire Income Tax states that it raises $360 Billion dollars that can be used to lower costs for families and cut the deficit. This is big news, but it is hard to put in perspective. I have tried below but am sure I have made some gross errors of miss placing or badly playing math usage. Assuming that the FY 2022 budget and Deficit are correct, what would you come up with for the benefit of the Billionaires Income tax change? Try to put it into a cost benefit per person and or percent reduction to deficit. Also any recommendations of how to invest my federal government cost rebate would be appreciated.

So, the US FY 2022 Budget is $6.011 Trillion with a forecasted Deficit $1.837 Trillion.

For perspective let's look at what 6 trillion looks like $6,000,000,000,000.

Now look at what the Billionaire Tax will bring $360,000,000,000 but that is for 10 years.
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For 1 year the Billionaire Tax will bring $36,000,000,000 (Which is .6 % of total Budget). Note that article says current rate is 8% for Billionaires and new rate is 20%, so it would seem that the increase is $22,000,000,000 per year or .36% of total Budget.

So, the Billionaire tax to lower costs for families is $22,000,000,000.

Now we have 330,000,000 us citizens divided into $22 Billion +~$67 per person savings or $22 Billion to reduce the $1.837 Trillion Budget deficit for FY 2022.

So, the new deficit could be $1,837,000,000,000 minus $22,000,000,000 or $1,815,000,000,000.

So, which is it going to be . Will my wife and I get relief of $134 or will we we reduce the deficit.