DrummerboyWolf said:
caryking said:
Tax Revenues by Year:
FY 2021 $3.86 (estimated)
FY 2020 $3.71 trillion (estimated)
FY 2019 $3.46 trillion (actual)
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.77 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
FY 2009 $2.10 trillion
FY 2008 $2.52 trillion
FY 2007 $2.57 trillion
FY 2006 $2.41 trillion
FY 2005 $2.15 trillion
FY 2004 $1.88 trillion
FY 2003 $1.78 trillion
FY 2002 $1.85 trillion
FY 2001 $1.99 trillion
FY 2000 $2.03 trillion
Tax cuts, by the Trump administration, are killing America...
Always happens. You cut taxes and the revenue goes up. What also happens is the spending goes up. There is a 7% or so added automatically in each year. It's called baseline budgeting. Some stupid thing that happened when Nixon was President to get him to be liked. When the Republicans have had control of all three, they never took that out and just continued on with the status quo. That is why we are so much in debt.
Yep, that's also what leads to the lies that are called "tax cuts"
If the budget for next year calls for a 10% increase and they "only" increase it by 7%, they call that a "cut"...when in fact, it's an increase of 7%.
Like when your wife goes to the mall intending to spend 200 bucks, and "only" spends 150 because "it was on sale, so I saved 50 bucks". No, you spent 150.
Thing is, all they'd have to do is hold spending steady and, while I haven't seen a definite time frame based on current numbers, it would take IIRC less than 10 years and the debt is gone. It would certainly be greatly reduced.
We already think the gov't spends too much. So hold it where it is for awhile, and just pay it down.