>>21052787the problem is that it doesn't happen in a day
you can spend all day driving towards a cliff, but you only fall off at the end
every politician thinks they can keep spending and leave the next guy with the bag (because it's worked so far, and none of them actually care about the country's future)
another aspect is that post-WWII tax receipts have stayed at ~17% of GDP, regardless of the tax code (goes between 14-19%)
one could read this as the max point of the laffer curve, at least for americans
which is to say that increasing taxes further would just retard the economy and lead to less tax revenue overall in the long run
it's a spending problem, not a revenue problem
this degenerate spending is partly enabled by everyone lending to the US, because we're somehow less shit than every other country out there, and are at least comparatively transparently
