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federally only is about $1.6Trillion, the rest is state taxes and never goes near the federal government to cover the interest on their debt. ($1.8Trillion at a

federally only is about $1.6Trillion, the rest is state taxes and never goes near the federal government to cover the interest on their debt. ($1.8Trillion at a poultry 5% interest)

sarchertech 2y ago
I don’t know where either of you are getting your numbers. The total federal revenue is a bit under $5 trillion and about half of that is income tax. Neither of those numbers include any state revenue or tax.
- DarkmSparks 2y ago
  dont know where you are getting your numbers. sounds like are confusing revenue and spending. relying on some AI maybe? US collects about $12Trillion in taxes total (30% ish of GDP), under $2trillion of that is given to the federal government for medicare, medicade and the military, they spend more than $5trillion, which is what they spend on medicare, medicade the military and the interest on the $37Trillion debt they have accumulated spending more than they were given by the states for medicare medicade and the military - mostly bank and insurance fund bailouts to prop up the failed US financial system, adding about $3trillion to the federal debt each year, which is why it has gone from $30trillion at the end of 2022, to $37trillion now. Getting downvoted because I do my own research instead of believing the latest gormless chatbot, that's new.
  - wat10000 2y ago
    Receipts: $4.9 trillion: https://www.cbo.gov/publication/60843/html https://www.cbo.gov/publication/60843/html Of that, individual income tax was about $2.4 trillion, payroll tax was $1.7 trillion, corporate income tax was $530 billion, and there's about $253 billion of "other."
  - daveguy 2y ago
    You cited nothing, and you are wrong on every number you quote. Fortunately Trump hasn't destroyed revenue reporting yet. This contains info for FY2024: https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/ https://fiscaldata.treasury.gov/americas-finance-guide/gover...
    - DarkmSparks 2y ago
      When I went to school I didn't need to cite sources to say 2 x (5.5-4 9) = 37-30 Is bad math. Or if you spend $5.5T a year and your debt increases $3.5T you had $2T in revenue. But here you go Medicare 2023 https://usafacts.org/articles/how-much-does-the-government-spend-on-medicare/ https://usafacts.org/articles/how-much-does-the-government-s... $848.2 billion Medicade 2023 $606 billion https://www.kff.org/medicaid/issue-brief/medicaid-financing-the-basics/ https://www.kff.org/medicaid/issue-brief/medicaid-financing-... Military 2023 https://usafacts.org/articles/how-much-does-the-us-spend-on-the-military/ https://usafacts.org/articles/how-much-does-the-us-spend-on-... $820 billion 848+620+820 = $2.2T National debt https://www.investopedia.com/us-national-debt-by-year-7499291 https://www.investopedia.com/us-national-debt-by-year-749929... $30,928 end of FY 2022 $33,167 end of FY 2023 How exactly are you saying they spent 2T more than they collected in revenue again? Is this a Joe Biden forget where he put it or smth? Meanwhile Debt now https://www.usdebtclock.org/ https://www.usdebtclock.org/ $36.4T =$33,167 end of FY 2023, spent $3.3T on interest, Collected and spent $2.2T on medicare,medicade and the military. = $33.1 +3.3 -2.2 +2.2 = $36.4T good luck have fun. Im out. enjoy your fantasy economics for the few months it has left. Last group of federated states with group finances in a similar position was the USSR circa early 1991, pop quiz, can you guess what I think happens to the US next?
      - daveguy 2y ago
        I see someone in this conversation has never heard of interest. Good luck buddy.
        DarkmSparks 2y ago
        The 6 to 7% they are paying on the $36.4T in debt they accrued ($2.5T)? That was kinda my entire point, Its on its way back to at least the 15% of the 1980s. https://longportapp.com/en/news/220249648 https://longportapp.com/en/news/220249648

federally only is about $1.6Trillion, the rest is state taxes and never goes near the federal government to cover the interest on their debt. ($1.8Trillion at a poultry 5% interest)

sarchertech 2y ago

I don’t know where either of you are getting your numbers. The total federal revenue is a bit under $5 trillion and about half of that is income tax. Neither of those numbers include any state revenue or tax.

DarkmSparks 2y ago
dont know where you are getting your numbers. sounds like are confusing revenue and spending. relying on some AI maybe? US collects about $12Trillion in taxes total (30% ish of GDP), under $2trillion of that is given to the federal government for medicare, medicade and the military, they spend more than $5trillion, which is what they spend on medicare, medicade the military and the interest on the $37Trillion debt they have accumulated spending more than they were given by the states for medicare medicade and the military - mostly bank and insurance fund bailouts to prop up the failed US financial system, adding about $3trillion to the federal debt each year, which is why it has gone from $30trillion at the end of 2022, to $37trillion now. Getting downvoted because I do my own research instead of believing the latest gormless chatbot, that's new.
- wat10000 2y ago
  Receipts: $4.9 trillion: https://www.cbo.gov/publication/60843/html https://www.cbo.gov/publication/60843/html Of that, individual income tax was about $2.4 trillion, payroll tax was $1.7 trillion, corporate income tax was $530 billion, and there's about $253 billion of "other."
- daveguy 2y ago
  You cited nothing, and you are wrong on every number you quote. Fortunately Trump hasn't destroyed revenue reporting yet. This contains info for FY2024: https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/ https://fiscaldata.treasury.gov/americas-finance-guide/gover...
  - DarkmSparks 2y ago
    When I went to school I didn't need to cite sources to say 2 x (5.5-4 9) = 37-30 Is bad math. Or if you spend $5.5T a year and your debt increases $3.5T you had $2T in revenue. But here you go Medicare 2023 https://usafacts.org/articles/how-much-does-the-government-spend-on-medicare/ https://usafacts.org/articles/how-much-does-the-government-s... $848.2 billion Medicade 2023 $606 billion https://www.kff.org/medicaid/issue-brief/medicaid-financing-the-basics/ https://www.kff.org/medicaid/issue-brief/medicaid-financing-... Military 2023 https://usafacts.org/articles/how-much-does-the-us-spend-on-the-military/ https://usafacts.org/articles/how-much-does-the-us-spend-on-... $820 billion 848+620+820 = $2.2T National debt https://www.investopedia.com/us-national-debt-by-year-7499291 https://www.investopedia.com/us-national-debt-by-year-749929... $30,928 end of FY 2022 $33,167 end of FY 2023 How exactly are you saying they spent 2T more than they collected in revenue again? Is this a Joe Biden forget where he put it or smth? Meanwhile Debt now https://www.usdebtclock.org/ https://www.usdebtclock.org/ $36.4T =$33,167 end of FY 2023, spent $3.3T on interest, Collected and spent $2.2T on medicare,medicade and the military. = $33.1 +3.3 -2.2 +2.2 = $36.4T good luck have fun. Im out. enjoy your fantasy economics for the few months it has left. Last group of federated states with group finances in a similar position was the USSR circa early 1991, pop quiz, can you guess what I think happens to the US next?
    - daveguy 2y ago
      I see someone in this conversation has never heard of interest. Good luck buddy.
      - DarkmSparks 2y ago
        The 6 to 7% they are paying on the $36.4T in debt they accrued ($2.5T)? That was kinda my entire point, Its on its way back to at least the 15% of the 1980s. https://longportapp.com/en/news/220249648 https://longportapp.com/en/news/220249648