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
You can comment on the article after the ads and subscribe to the Daily Newsletter here if you would like a quick view of the articles of the day and any late news:
Get rid of the illegal Federal Reserve. Go back to the gold standard. Outlaw venture capatilists. Their main goal is to purchase companies, break them up and cherry pick which sections to sell off for financial gain, at the expense of us all.
This world is quickly (has been) going to hell in a handbasket.
Joe BRIBEn administration can throw billions at Ukraine and pump money to criminal illegal aliens but won’t spend a dime on giving seniors their rightful Social Security benefits by passing the Social Security Fairness Act. This government is totally corrupt.
Corporate taxes are an illusion. The government uses corporations to collect its taxes for them, the taxes are always paid by the consumer.
Meanwhile delinquencies on commercial real estate loans in NY City have risen 1000% since February 2023. You really think the National Guard was really in the subways to check bags? Sorry, that was the test run for the coming bank collapse.
Hold onto your hat folks, we are in for a bumpy ride.
Since schools, in general, stopped teaching kids how to think, it seems to few Americans will understand this article.
63% of income!!! Forget the other 50% as it is money that goes to fixed programs. The problem is compounded when we realize that Social Security and pensions are underfunded and that the money taken in now is paying current pensioners when it should be being invested to pay those who are paying into the fund. The the Dems ad RINO’s looted the money current SS recipients paid in.
Maybe one of the experts can tell us what the true national debt is by including things that are unfunded. I think the government is near bankruptcy and within 5 years SS and pension will not be paid and pensioners will be starving to death by the millions. Is that the plan of the Dems and RINO’s – murder the elderly? Was it the WEF tat wanted an 87% drop in population?
Given a USA population of 336,162,710 that would mean murdering 294,142,371 people. How do you like you odds?
https://www.census.gov/popclock/ GMT20240313 GMT 01:58
If you like the odds vote Democrat/RINO
If you don’t trough the ********* out. (My word of ****** is bums.)
The SCOTUS has said on many occasions that the govt. can end social security for any reason at any time. Should this occur I say a revolution is warranted since this is not a voluntary program, and the Congress in its wisdom, exempted themselves from this program. Wonder why.