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If you watch the video, the argument is made that receipts/revenue is up, but spending is increasing faster. The government needs to budget better. I wish Democ
by cebert 2y ago
If you watch the video, the argument is made that receipts/revenue is up, but spending is increasing faster. The government needs to budget better. I wish Democrats and Republicans could find some way to course correct by reducing spending and possibly increasing taxes.
- MilnerRoute 2y agoWhat's frustrating is these are simple numerical questions. I feel like there must be an obvious solution which either one side or the other is intentionally obfuscating to advance their agenda. I tried a quick Google search, which tells me that about 25 years ago 19.5% of America's GDP was collected to offset that national debt. But Bush's tax cut (and a later one about 8 years ago) has lowered that to just 16.3%. That coincides with the steeper slope in the Statista graph. https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver https://www.cbpp.org/research/federal-tax/the-2017-trump-tax...