npub1j8…2xggp on Nostr: @WallStreetSilv The US govt collects about $2.5 trillion per year in personal income ...
@WallStreetSilv
The US govt collects about $2.5 trillion per year in personal income taxes.
Of that about $1 trillion per year (40%) is being consumed by interest on the national debt.
Interest on the debt is growing as old cheap debt matures and gets refinanced at the new higher rates. Plus new debt added every year.
Within a few more years, at this pace, 100% of personal income taxes will be going to pay interest on the US national debt.
The US govt collects about $2.5 trillion per year in personal income taxes.
Of that about $1 trillion per year (40%) is being consumed by interest on the national debt.
Interest on the debt is growing as old cheap debt matures and gets refinanced at the new higher rates. Plus new debt added every year.
Within a few more years, at this pace, 100% of personal income taxes will be going to pay interest on the US national debt.