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> it's worth reviewing where total government spending in the US actually goes. Is it also worth reviewing 1. are we likely to ever increase incoming tax reve

> it's worth reviewing where total government spending in the US actually goes. Is it also worth reviewing 1. are we likely to ever increase incoming tax revenue (which loopholes stand to benefit the country's income the most without hurting it's citizens/economy/the businesses (and its employees who are basically the citizens) inside of it) enough to offset the debt-GDP ratio 2. if we are (or even if we aren't) going to increase taxation, are we going to lower spending in a significant manner or can we count on spending to pretty much stay the same or grow to offset the debt-GDP ratio so far in the past like, 15 years, we've shown we're going to keep taxes roughly the same and keep spending roughly the same (continue to grow it year over year) therefore we have no indication that we're headed towards anything but a debt/GDP ratio of 120-150% next 10 years, correct?

shagie 4y ago
> so far in the past like, 15 years, we've shown we're going to keep taxes roughly the same and keep spending roughly the same (continue to grow it year over year) I would like to bring that into question. https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017 https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017 > The CBO estimated that implementing the Act would add an estimated $2.289 trillion to the national debt over ten years, or about $1.891 trillion after taking into account macroeconomic feedback effects, in addition to the $9.8 trillion increase forecast under the current policy baseline and existing $20 trillion national debt. ... And of course the time between 2017 and 2023 has been great for the economy with improved revenue growth offsetting the reduction in taxes.
scrubs 4y ago
I hate to say it but yah. There is no institutional backbone in Congress anywhere to do course correct. If memory serves corp taxes are down about 20pct from Reagan while my W2 taxes are high. I've been in the apple building in Cupertino. Nobody really thinks it's Irish for tax purposes.

shagie 4y ago

> so far in the past like, 15 years, we've shown we're going to keep taxes roughly the same and keep spending roughly the same (continue to grow it year over year) I would like to bring that into question. https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017 https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017 > The CBO estimated that implementing the Act would add an estimated $2.289 trillion to the national debt over ten years, or about $1.891 trillion after taking into account macroeconomic feedback effects, in addition to the $9.8 trillion increase forecast under the current policy baseline and existing $20 trillion national debt. ... And of course the time between 2017 and 2023 has been great for the economy with improved revenue growth offsetting the reduction in taxes.

scrubs 4y ago

I hate to say it but yah. There is no institutional backbone in Congress anywhere to do course correct. If memory serves corp taxes are down about 20pct from Reagan while my W2 taxes are high. I've been in the apple building in Cupertino. Nobody really thinks it's Irish for tax purposes.