In February, the US government paid 63% of Americans’ personal income tax on interest alone on our US debt. Personal income tax is half of what the government takes in. That isn’t good.
About 50 percent of federal revenue comes from individual income taxes, 7 percent from corporate income taxes, and another 36 percent from payroll taxes that fund social insurance programs. The rest comes from a mix of sources.
In 2023, the total revenues of the U.S. government totaled around 4.44 trillion U.S. dollars. Revenues consist of individual and corporate income taxes, payroll taxes, and other taxes. Individual income taxes amounted to 2.18 trillion U.S. dollars in 2023, whereas corporate income taxes totaled 420 billion U.S. dollars.
Don’t worry, as long as there is enough money for the “newcomers” most of us call illegal aliens. That is what they are. They are aliens coming illegally.
I’m not an economist, but this doesn’t sound good.
According to Dr. Antoni, who is an economist, the government used 63% of all personal income taxes to pay the interest on the debt. That is just interest.
It took 63% of all personal income taxes in Feb to pay the interest on the debt – no roads, no military, no schools, no social security – JUST INTEREST: pic.twitter.com/c9GBjWTags
— E.J. Antoni, Ph.D. (@RealEJAntoni) March 12, 2024
In this clip, Dr. Antoni discusses the unaffordability of housing.
“The cost to own a median price home has increased between 80 & 100% over the last 3 years.”
Reckless spending, an irresponsible Fed Reserve, & ineffective regulations have driven up home costs & put homeownership out of reach for many middle & low income earners.@RealEJAntoni pic.twitter.com/Aad7gB1Mrf
— Heritage Foundation (@Heritage) March 12, 2024
The Consumer Price Index is also deeply concerning.
Sticky-price CPI looks to be settling at about twice its pre-pandemic average; bad news for anyone who thought inflation was trending down…
Is Team Transitory™️ still a thing? pic.twitter.com/c21qlq4Rbh— E.J. Antoni, Ph.D. (@RealEJAntoni) March 13, 2024
As for sanctioning Russia, it is a predictable failure. The next failure is de-dollarization. We have to get rid of Democrats.
S&P Global: Russia's private sector economy has the strongest profitability outlook and 2nd highest employment outlook since June '11 while inflation concerns moderated in Feb; sanctions have failed – miserably… pic.twitter.com/1pzutLixAM
— E.J. Antoni, Ph.D. (@RealEJAntoni) March 12, 2024
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