4 ms·
Not necessarily. If the economy grows faster than recent history, a constant tax rate brings in more revenue. Also worth looking at the last time the USA compl
by thephyber 6y ago
Not necessarily. If the economy grows faster than recent history, a constant tax rate brings in more revenue.
Also worth looking at the last time the USA completely paid off its government debt.
> On January 8, 1835, president Andrew Jackson paid off the entire national debt, the only time in U.S. history that has been accomplished. [1]
[1] https://en.wikipedia.org/wiki/History_of_the_United_States_public_debt https://en.wikipedia.org/wiki/History_of_the_United_States_p...
- dtwest 6y agoYes, well actually if the economy grows at all, a constant tax rate brings in more revenue, while we tend to spend more too. But I agree it is theoretically possible. In Andrew Jackson's case they also raised taxes: https://en.wikipedia.org/wiki/Tariff_of_Abominations https://en.wikipedia.org/wiki/Tariff_of_Abominations