The plan calls for the federal government to work with private investors to try to restart the market for the troubled mortgage loans and securities, which in turn officials hope improves the financial condition of banks that have received billions in capital injections from the government already. The federal government will pair as much as $100 billion with private capital to generate $500 billion in purchasing power to buy the assets, and Mr. Geithner told reporters the plan could reach $1 trillion in size over time.

Of course, the U.S. Treasury Department isn’t giving a hundred billion dollars in cash for free. The government-provided funds available to investors looking to purchase “troubled” assets, as identified by the banks currently stuck with them. The highest bidder for such assets will receive “50% of the equity requirement of their purchase” from the Treasury.  If the plan works and these assets increase in value, the Treasury actually makes money on their investment.

Whether it is too much or too little to help the credit markets rebound will surely be the subject of much debate-the contentions are far too controversial and technical to go into here-but what is certain is that $1 trillion is a lot of money.

To put it into perspective, if you had $1,000,000,000,000 in cash, you could buy:

• 282 billion Big Macs
• 3.1 million Ferrari 599 GTBs
• 769 New Yankees Stadiums
• 28,571 flights into space as a tourist
• 66.7 billion copies of Oliver Stone’s Wall Street

And in case you’re a visual learner, PageTutor.com has this illustration of a man standing next to $1 trillion worth of $100 bills:

UPDATE: Econ4U has released a survey and video on how many Americans can correctly identify how much $1 trillion is. We also have a page with more statistics and visualizations here.

Here’s an English language translation of their tax snafus:

Tim Geithner, Secretary of the Treasury – Geithner failed to pay $25,000 in payroll taxes when working for the International Monetary Fund in Japan. His work for the IMF caused confusion, since as an international organization the IMF isn’t required to withhold payroll taxes. Instead, their American employees are supposed to pay those taxes themselves, and the IMF tells them what their tax liabilities are. From 2001-2004, Geithner failed to do that, and the missing payments were found after the IRS audited him in 2006. But since the IRS has a 3-year statute of limitations on back taxes, Geithner was only required to pay the amounts for 2003 and 2004. So when this came to light during his confirmation hearing, Geithner then voluntarily made the payments for 2001 and 2002. But here’s the most interesting part. The IRS is precluded from accepting money it isn’t owed. And since Geithner’s taxes from 2001 and 2002 are beyond the statute of limitations, the IRS may actually refund his 2001 and 2002 payments! (H/T Slate’s Christopher Beam)

Tom Daschle, Former Secretary-designate, Health & Human Services – The former senator from South Dakota failed to pay over $128,000 in tax liability for a chauffeured car service, and didn’t report over $88,000 in consulting income. Daschle’s car service (valued at more than $250,000) was a perk provided by InterMedia Advisors, a private equity firm that paid him upwards of $2 million in consulting fees. When reporting income, sometimes people are confused over what is a “fringe benefit” from their job and what is income. In Daschle’s case it’s fairly clear (at least as clear as our tax code gets). Under Section 132 of the Internal Revenue Code, the value of transportation services provided for personal use must be included in income. Since he didn’t report the service until 2008, he owed on this transportation “income” for the 2005-2007. In addition, Daschle had $80,000 in consulting income he didn’t report, because Intermedia did not include it in their year-end statement. But regardless of what they reported, it was Daschle’s responsibility to accurately include all of his income in his tax filing. The IRS found Daschle to be at fault and hit him with a fine.

Former Performance Czar-designate Nancy Killefer- Since Killefer has withdrawn her nomination all of the documents related to her tax issue are not public. But based on the Associated Press report, Killefer did not pay unemployment compensation tax on her household help. Employers are required to pay unemployment compensation tax (both federal and state) on any employees. The IRS defines someone as your household employee if you can control not only what work is done, but how it is done.

While your finances may not involve chauffeured Cadillacs and household staffs, taxes are complicated. As April approaches we’ll have lots more information and tips to make the most of your tax return.