He mentions in there this idea of taking the bailout money and using it to end the income tax instead. This peaked my interest, so I went and took a cursory look at the numbers. Here’s what I found out.
In 2009, the income tax raised $915 billion. The bailout funds committed so far are in the vicinity of $3 trillion, with another $8 trillion committed.
We could have bought 3-11 years of no income tax. Just imagine!