If the current tax laws set to expire after 2025, do expire, revenue to the federal government is estimated at the baseline.
If the current laws are extended, the estimated lost revenue will be $4.7 trillion over ten years and the debt to GDP ratio increases to 130.6%.
You can model your choices to raise revenue. Click HERE to use the modeling tool.
No matter how you slice it, we have a spending vs. revenue problem that cannot go on forever.
We must lower spending or increase revenue or both … and that is in addition to fixing Social Security and Medicare solvency problems.
QUINNSCOMMENTARY 
Revenue hs increased, spending is the problem
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seems like term limits might promote more responsible tax & spend decisions by removing the perpetual career politician re-election mindset
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Neither party will address spending. Only one party will address revenue. That is the least bad choice we have. A vote for Trump is a vote for a higher deficit than a vote for Biden.
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The Social Security/Medicare solution will require tax increases at some level, even if some reductions are made in benefits.
My two cents on the main budget are address spending and then see what tax increases can be looked at. The idea of raising taxes first means the spending side is never accomplished.
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Good points all. The problem is nobody wants to address spending, nobody wants their ox gored and to make it worse when someone comes up with a plan to raise revenue, it’s offset by new spending, not used to offset debt.
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The more money they have the more they spend–look back 10-years for the total tax receipts of the feds and then the last fiscal year and I bet it is quite the increase–what was done with that $–it was spent–
the left loves to grow the government–medicare for all–higher taxes for SS–transfer the debt of student loans to the working class–a 32 hour work week–$20 minimum wage at fast-food locales in CA–you can’t help but laugh at these fools–they are so compassionate with other people’s money–jobs–children.
same folks calling others racists and bigots until the migrants came a calling–now we need legislation –now there’s a problem–they created the problem and they say they can solve the problem.
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