Tax and spend
Tax and spend is a phrase referring to the propensity of liberals to raise taxes in order to spend the revenue on government programs. It can be a form of income redistribution. To a liberal, tax and spend is the solution to every problem. Whether the economy is good, bad, or stagnant, liberals think taxes must be raised.
National debt of the United States
See also: National debt of the United States
The National debt of the United States is the amount of money the United States Federal government owes various creditors due to deficit spending.
As far as the national debt of the United States, according to noted business school Wharton School of the University of Pennsylvania, "As of September 30, 2023, the federal “debt held by the public” (herein, “debt”) stood at $26.3 trillion, or about 98 percent of projected GDP."[1]
Books
- Morgan, Iwan W. (1995) Deficit Government: Taxing and Spending in Modern America. Ivan Dee.
- Beito, David (1989). Taxpayers in Revolt: Tax Resistance During the Great Depression. University of North Carolina Press.
See also
External links
- Policy Basics: Where Do Our Federal Tax Dollars Go? (How U.S. tax dollars are spent)
- How Does the U.S. Government Spend My Taxes?, Investopedia
Video:
- Left vs. Right: Taxes, Prager University
References
- ↑ WHEN DOES FEDERAL DEBT REACH UNSUSTAINABLE LEVELS?, Penn Wharton School of Business at the University of Pennsylvania]
