Atlas Shrugged...now non-fiction: Plunging Tax Revenue Accelerates Debt Ceiling Deadline
From Richard Rubin at the Wall Street Journal:
Plunging Tax Revenue Accelerates Debt-Ceiling Deadline
With pandemic, tax collections boom, then bust: Is federal budget starting to resemble California’s?
Wall Street and Washington got jolted this month by government warnings that the U.S. could become unable to pay all its bills as soon as June 1. That crunch came months sooner than expected, raising the specter of a default on federal obligations unless Congress increases the debt ceiling.
The reason: the expected annual gusher of tax-season payments didn’t flood into the Treasury. When the Congressional Budget Office analyzed tax collections for the current fiscal year through April, the tally fell about $250 billion short of predictions from just a few months ago.
Plunging Tax Revenue Accelerates Debt-Ceiling Deadline
With pandemic, tax collections boom, then bust: Is federal budget starting to resemble California’s?
Wall Street and Washington got jolted this month by government warnings that the U.S. could become unable to pay all its bills as soon as June 1. That crunch came months sooner than expected, raising the specter of a default on federal obligations unless Congress increases the debt ceiling.
The reason: the expected annual gusher of tax-season payments didn’t flood into the Treasury. When the Congressional Budget Office analyzed tax collections for the current fiscal year through April, the tally fell about $250 billion short of predictions from just a few months ago.
Go figure.....you shut the economy down. Pay people to stay home.
Print money and choke off energy.
Then continually lie to people that see their Walmart Bill increase that there is no real inflation. And if they say anything to the contrary it’s because they’re racist.
The economy contracts and you have less tax revenue.
But, let’s just keep spending like drunken sailors and bailing out our friends while the dollar devalues.
Who would have thought the American People would stop spending and start preparing for the inevitable?
And if we have the audacity to point these facts out we are met with a Greta inspired icy stare and a shrieking “How Dare You!”
Screw em’....LET it burn!
What are we gonna do? Go punch a purple haired kid in the face? He doesn’t control the levers of power. And then we get put in a cage.
I guarantee the government expects a full on frontal assault. And they are prepared for it.
Look at 1/6/21. The GOP sure was on the side of the Patriots.......not.
The single best solution is to Go Galt! Hard!
We are not wrong.
A does in fact equal A.
Their plan requires both of them. Paying the debt holders with worthless dollars is the plan. Which is why I ask.....WTF are we STILL working for??? Go Galt!
The United States has gone bankrupt at least 2 times. The first was 1964 The next was 1971. They changed the nature of the dollar. They are about to do it again.
Ayn was a genius. And her solution was ingenious.
Go Galt!
Besides, if we want something, and just scream loudly enough or clench our fists, we'll get it.
“Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” - H. L. Mencken
"But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
--Declaration of Independence
--Thomas Jefferson
PS. "Throw off" does not refer to voting and elections, or recalls and civil disobedience... The time for words and civil discourse has long passed. If America falls, there's no place else on Earth to go.
As I’ve said before, the LEFT is non-negotiable at this point.
Duck and Cover
They are INCREASING the tax burden on EVERY GENERATION!
The us government has been pretending its solvent by printing more fiat money allowed for by the debt ceiling.
Its a real hoax. Cut spending NOW to equal tax revenue and suffer the political consequences NOW.