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GDP can’t be spent. The Pentagon budget is about 750 billion and federal tax revenues are about 3.5 trillion so the pentagon budget is about 20% of tax revenues

• thoughtstheseus 6y ago
  We’re long past tax revenues defining government spending. Deficits are abound even in good times.
  • mcny 6y ago
    > Deficits are abound even in good times. I can't wait to hear from "conservatives" who "care deeply" about deficits to come out of the wood works and teach us the virtue of "not spending money we don't have" now that we have given our tax breaks (again) to all the corporations from Amazon to Walmart. Nobody gets to whine about deficits until we raise our tax rates up and stable for at least a decade[0]. I don't see anyone campaigning for higher property taxes (my recommendation is an annual tax of 7 to 9 percent[1] of the property value with a housing allowance to all residents physically present in the US) similar to the carbon tax in Canada. [0] My off-hand recommendation for income above 50 x 2000 x minimum wage (for example, at a minimum wage of USD 15, it is USD 50 * 2000 * 15 = USD 1.5M), the progressive tax rate should be at least 90%. [1] The idea being not paying this tax for roughly ten years ought to be enough to get you evicted with minimum fuss so we can "sell" the property to someone who will pay the property tax. No exceptions. No homesteads. No charitable work exception. Applicable nationwide.