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Right now 1 out of every 5 dollars of spent GDP comes from the government. Why prefix with "Right now"? It's been roughly 20% since 1975, and only marginally l

Right now 1 out of every 5 dollars of spent GDP comes from the government. Why prefix with "Right now"? It's been roughly 20% since 1975, and only marginally lower for the 25 years before that. https://fred.stlouisfed.org/series/FYONGDA188S https://fred.stlouisfed.org/series/FYONGDA188S The other side of that (taxes) has changed much more substantially during that time (lower).

timewizard 2y ago
> Why prefix with "Right now"? I'm probably just a bit older than you might assume. > and only marginally lower for the 25 years before that. Really I was doing a bad job of highlighting this problem: https://fred.stlouisfed.org/series/FYFSGDA188S https://fred.stlouisfed.org/series/FYFSGDA188S > has changed much more substantially during that time (lower). The burden has shifted /more/ onto individual tax payers and less from business and excise taxes was the particular point I was driving at. It suggests more clearly who actually got those "lower" taxes and why our linked graphs paint a bad future.