We at least agree on half of the problem. IMO There is little point in further taxing, via income tax, people who already can barely afford the cost of living. but certainly we are too low on the high end - in particular I think we are long overdue for at least one, maybe two additional tax brackets at the top. And the rates for the existing top 2-3 brackets probably need to go up.
And lets not forget Corporate income taxes For ex no freaking reason to cut taxes for banks in trump 1-most had just experienced record profits
Agreed but with that said - the issue over the last five years has been expenditures. It’s gone up 56% in 5 years, which is obscene.
So, you want to charge impoverished people income tax? Even though they pay FISA and federal excise taxes?
This is incorrect but deserving of another thread.
You know how precious the widow's mite is or that's how they think.
How much of that was COVID/STIMULUS Blip??
What does Covid have to do with 2024?
It's part of the 8 trillion dollars that Trump added to the national debt. David Stockman has said that between his first term and his announced plans for this term, he might add 30 trillion before he and his policies are done. The interest on that debt is a part of it.
The interest is just a fraction of the 56% increase since 2019.
Yes and directly or indirectly, as when Obama had to pay for the Shrub's military mistakes, the Republicans are responsible for the greatest part of it by far. Reagan almost tripled it and was the one to first really put us behind the eight ball. You're like the guy who killed his parents and asked the judge to have mercy on him because he's an orphan.
The Republicans are responsible alone for a 56% increase in expenses 2019-2024?
I didn't say that. I just said they set the table ,picked the menu and the cooks. Who's controlled the legislature and the courts through any means possible? Eat it and choke on it. There are all sorts of studies that show the economy has consistently done better until Democrats. Not that they haven't made mistakes but, frankly, plus is better than minus and not the first thing good has come out of the Republican Party for the nation as a whole since Eisenhower.
Ok but none of that goes into why we have seen a 56% increase in the federal government expenses in 5 years.
This is from a pretty conservative source but does a good job of showing why and how expeditures shot up in 2020. You are correct that they have stayed at those elevated levels, largely because of the multi-year impact of the Covid spending bills, but this at least answers a lot of the "why."
www.pgpf.org
Revenue has stayed right at 17% of GDP, which has been the 50 year average. The issue has been expenses.This is from a pretty conservative source but does a good job of showing why and how expeditures shot up in 2020. You are correct that they have stayed at those elevated levels, largely because of the multi-year impact of the Covid spending bills, but this at least answers a lot of the "why."
13 Charts That Show the Stunning Impact of 2020 on Our Fiscal and Economic Outlook
Our fiscal situation was already unsustainable, but COVID-19 certainly did not help.
Reasonable people could disagree as to whether we need to address spending or revenue or both, but I agree the current deficit and projections for where it will go from here is a problem that must be addressed.
Other than in 2020-22 (the main years for the Covid bills), expenses have been pretty consistent with the 50 year average as well.
It is not 0%
Sigh. Here we go again. D = A-B, but somehow the value of A can't be touched because the problem is B.
