Fun tax fact for the day
As of 1998, 32% of individual federal income taxes are needed in order to pay the interest on the national debt.
As of 1998, 32% of individual federal income taxes are needed in order to pay the interest on the national debt.
Remember, I do this to entertain me, not you.
Uncle Pays the Bills
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January 28th, 2004 at 4:34 pm
I guess it’s a good thing that budget deficits don’t in any way affect the national debt, then, huh?
*ducks*
January 28th, 2004 at 4:38 pm
I challenge you to show me where I said that. I said they were not necessarily related. Debt requires a willful act between two parties irregardless (*ducks*) of it’s ability to make money.
January 28th, 2004 at 5:08 pm
I would even dispute the “not necessarily related” point, at least in the long haul. What I remain open on is whether or not the correlation between deficit and debt is 1:1. I can (barely) imagine some scenarios where it might not be.