People commonly assert that every US citizen owes $100,000-160,000 in national debt. That’s not correct, because those who benefit most (especially through debt-creating tax breaks) owe a higher percentage of that debt.
Here is the most recent calculation, broken down by percentile of wealth. The 1% owe over $3,000,000 each. They have massively benefited from debt-creating tax breaks. The lower 50% of US citizens owe under $6000 each, which is fitting, since they are the vast group of Americans not only who carry the majority of taxes, but also generate the overwhelming majority of economic activity.
Share of National Debt By Wealth
| Percentile | % of Total Wealth | Total National Debt Allocated | Number of Citizens | Debt per Citizen |
|---|---|---|---|---|
| Top 1% | 32% | $10.56 trillion | 3.33 million | ~$3,173,173 |
| Next 9% (2-10%) | 38% | $12.54 trillion | 29.97 million | ~$418,469 |
| Next 40% (11-50%) | 27% | $8.91 trillion | 133.2 million | ~$66,738 |
| Bottom 50% | 3% | $0.99 trillion | 166.5 million | ~$5,940 |