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DouglasHecht: 1 year ago

How much money is spent by consumers in the US each day?

What is the total of "how much money is spent by each individual consumer each day" ? (Rough guess, with 100 million dollars either way.)

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PeterG: 1 year ago | Last edited at 4:04PM on 6/19/2011

This is way below the mark. An average income earner in US spends an average of $68 per day. This means that the total expenditure will be over 15 billion dollars, assuming that three quarters of the population spend some money. Considering the population of U.S (over 310 million people), and the population structure, that personal spending is possible, leaving out the government expenditure. See a consumer expenditure survey on http://www.bls.gov/cex/.

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DouglasHecht: 1 year ago

Perter, That is most helpful. I am looking for the answer to in an attempt to figure out, "if the government got rid of the current income tax structure" and just went with a Value Added Tax of about 15 to 23 percent how long would it take to balance the budget and clear our debt. Based on the answers that I read on "http://www.bls.gov/cex/";, we should be able to do it, (even "illiegal aliens' would pay their share) but, then the government would loose a certain amount of control over the popluation. It seems to be a common sense issue, and you cannot mix common sense with the US or any Government and that really sucks. But, again, thank you so much for your answer.

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