The US has not got a deficit problem

Posted on

I mean that.

Look at the graph in this report (not sure if I can reproduce it for copyright reasons).

Corporate tax revenues down 57% in the US.

Personal tax revenues down 22%.

You’ll never get out of that shortfall of tax revenues without a fiscal stimulus for the economy that means positive, proactive spending. Let’s call is a Green New Deal.

Hat tip to TJN