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We are spending 3 trillion extra dollars than we take in taxes per year. That means taxes would go up by 75 percent. Even then it doesn’t matter because we will
by DoesntMatter22 5mo ago
We are spending 3 trillion extra dollars than we take in taxes per year. That means taxes would go up by 75 percent. Even then it doesn’t matter because we will spend even more. Everyone agrees to spend, no one agrees to cut
- rayiner 5mo agoI must have been looking at old data, but it looks like $1.9 trillion in FY2026. So that's 6.5% of GDP rather than 4% like I said above. Taxes as a percentage of GDP is currently about 25%, so going up to 31.5% would be a 26% jump. Not great, but not catastrophic. But I agree that if we raised taxes we would just spend more. :(