3 ms·
Is there really any correlation between tax revenue and spending at the federal level anymore? It seems the U.S. government is willing to spend at huge deficit
by racingmars 7mo ago
Is there really any correlation between tax revenue and spending at the federal level anymore? It seems the U.S. government is willing to spend at huge deficit levels. If everyone stopped paying federal taxes I suspect nothing would change.
- celeritascelery 7mo agoWhat would change is the government would need to greatly increase their debt. In 2025 the government got about $5.23 trillion in tax revenue and spent about $7 trillion. So most of the government spending is financed by taxes. Remove that and the rate of debt quadruples (and by extension inflation).
- asdff 7mo agoWhen do we finally hit the cliff? Deficit has been going up for decades.
- dataflow 7mo ago> When do we finally hit the cliff? When you can't pay the interest anymore?
- asdff 7mo agoJust add it to the deficit. Fact is US is able to run up 39 trillion and counting in debt because it prints the god damn monopoly money. No one would offer a loan to someone with that financial history. Shit really went off the rails after Bretton-Woods, huh?
- marcandre 7mo agoMagical thinking! You may as well recommend the government prints more money and give it to everybody... In FY2025, the U.S. federal deficit was $1.78 trillion, with total revenue at $5.23 trillion, so clearly it's a majority of revenue.