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FRED has SALT revenues around 2.038T[1] in 2023. It looks like about 1.5T is State. This seems to be up 25-35% over historic averages when adjusted for inflatio

FRED has SALT revenues around 2.038T[1] in 2023. It looks like about 1.5T is State. This seems to be up 25-35% over historic averages when adjusted for inflation. It has spiked in the last 2 years for reasons I'm not clear on. FRED also had Federal Receipts at about 17% of GDP [2] between the Trump and Biden terms, which seems average. This was preceded by 15 years of below-average receipts (by this metric) during Bush43 and Obama. Maybe your data source is more accurate than the fed? Otherwise, it seems like there is plenty more room to tax. It also very clearly matters who you tax. The poor and middle class are mostly tapped, but JP Bezos and big private finaceers have way too much and could stand to be taxed much harder. [1] - https://fred.stlouisfed.org/series/QTAXTOTALQTAXCAT1USNO#0 https://fred.stlouisfed.org/series/QTAXTOTALQTAXCAT1USNO#0 [2] - https://fred.stlouisfed.org/series/FYFRGDA188S#0 https://fred.stlouisfed.org/series/FYFRGDA188S#0

s1artibartfast 2y ago
Thank you for responding. I have to admit I do in general trust the Fed, and retract my point until I can find out what the differences are. I think you also have to take into account differences in private spending When comparing capacity for taxation. It's one thing to pay 45% taxes when that includes Healthcare and pensions, and another to pay 45% plus another 10-20%. I think it matters both who you tax and what you do with it. You can outrace continual debt spending with positive Roi Investments but not negative ROI.