Re: the future long term financial apocalypse of the USA

On 14 May 2024 02:42:11 GMT, ted@loft.tnolan.com (Ted Nolan
<tednolan>) wrote:

In article <v1u767$ei8$1@panix2.panix.com>,
Scott Dorsey <kludge@panix.com> wrote:

Scott Lurndal <slp53@pacbell.net> wrote:

>
Today, in the USA, income taxes are as low as they've been since, well,
perhaps before WW2.    The decreases in revenue due to tax cuts
began in 1981 and were seriously cut in 2016, leading in a large
part to the current deficits.

>
Indeed, although it should be pointed out that this is most dramatic at
the higher levels, where the highest tax rates have been capped long ago.
>

>
What decreases in revenue?  Here are the OECD figures for US Tax Revenue
from 1965 through 2022 (https://stats.oecd.org/Index.aspx?DataSetCode=REVUSA):
>
1965 167 022
1966 186 065
1967 208 577
1968 218 623
1969 261 468
1970 276 727
1971 278 738
1972 313 091
1973 348 794
1974 389 542
1975 415 386
1976 450 017
1977 525 970
1978 588 261
1979 662 519
1980 730 672
1981 832 930
1982 871 205
1983 872 628
1984 973 472
1985 1 069 914
1986 1 127 958
1987 1 247 323
1988 1 334 154
1989 1 447 778
1990 1 552 413
1991 1 592 211
1992 1 678 736
1993 1 779 819
1994 1 915 493
1995 2 028 327
1996 2 183 329
1997 2 357 489
1998 2 525 496
1999 2 690 195
2000 2 900 519
2001 2 884 730
2002 2 733 431
2003 2 805 008
2004 3 025 257
2005 3 402 866
2006 3 699 160
2007 3 868 612
2008 3 787 415
2009 3 317 018
2010 3 517 144
2011 3 706 690
2012 3 887 233
2013 4 291 752
2014 4 542 584
2015 4 773 680
2016 4 837 633
2017 5 192 729
2018 5 131 484
2019 5 372 512
2020 5 419 799
2021 6 178 036
2022 7 041 876
>
The problem is not revenue, or tax cuts decreasing revenue.
The government just spends too much. 

The problem is more likely to be that you are not adjusting for
inflation.

But let's wait until those 5M auditors the Republicans are whining
about get done getting the Republicans' rich buddies to pay the
/correct/ amount of tax for the past six years or so and see what
/that/ produces.
--
"Here lies the Tuscan poet Aretino,
Who evil spoke of everyone but God,
Giving as his excuse, 'I never knew him.'"