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US government solvency is backed by the power to tax and tap into the massive US economy. Considering the US has one of the lower overall tax rates of develope
by refurb 2mo ago
US government solvency is backed by the power to tax and tap into the massive US economy.
Considering the US has one of the lower overall tax rates of developed economies, I’m not sure we’ve reached any sort of crisis level
- Zigurd 2mo agoThis is the truest and most impactful point so far on this thread. Rescinding the Trump I tax cut (IIRC technically the permanent extension of a temporary tax cut) would fix a lot of problems. That and not being belligerent to our creditors gets you pretty close to a complete solution.
- Scottn1 2mo agoNot that simple IMO. If Trump was to rescind his own tax cut, he'd lose a large majority of his base as they feel even more pinched in the pocketbook than they currently are experiencing with the inflation problem. I don't see a way out of this and I don't think current admin really cares. Loot every last drop they can for next two years to enrich themselves and leave America to burn with no money left for Social Security, bond payments, etc. The crowds with pitchforks won't have anyone to tar and feather as Trump will be too old/dead to face any justice and his rich billionaire family will expat to the billionaire utopia of choice. Along with Musk, Bezo's and Zuck.