In Reply to: So riddle me this posted by SagoBob on March 23, 2025 at 20:52:42
There's a ton of articles on it but essentially before the Bush tax cuts in 2001 everytime unemployment was under 5% the tax revenue was GREATER than 19% of the GDP. Since the Bush tax cuts that has happened 9 times, unemployment below 5, only once has the revenue exceeded 19% and that was under Biden during Covid and was basically a one off because of Covid. And it only got worse after the TRump cuts.
Republicans argue REVENUE went up after the tax cuts and it did, but the as compared to GDP % went DOWN and it's why the debt is getting bigger. In laymans terms the tax cuts increased revenue but instead of making a profit we're making a loss and the more we bring in, the bigger the loss.
That's why Trump won't talk about tax revenue to GDP, it proves his tax cuts are the biggest problem.
Spending sure it can be cut, it always can, but the biggest offender is defense and they won't cut it