a. U.S. GDP is approximately $14 trillion. If GDP were divided up equally among all 300 million Americans, what would each person get? If you and your nine best friends took almost all of the GDP for yourselves, but gave $1,000 per person for everyone else, how much would you get each year, just for yourself?
b. More seriously, currently 150,000 people in the United States earn more than $1.5 million per year. If you could take their money and divide it up among the approximately 300 million other Americans, how much money could you give to each person every year? Note that $1.5 million is only the cutoff: On average, this group earns $3 million per year, so use that number in your calculations.
(Source: Johnston, David Cay. Richest are leaving even the rich far behind, New York Times, June 5, 2005, based on U.S. government data.)
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