" The New America” is birthing?, page-24

@skiptdouglas

I'd be surprised if US taxes dont have to go considerably above that - whoever is in power

US Federal govt current account deficit was $400Bn US in 2016. It more than doubled under Trump and is now forecast to be US$1.2t minimum on a trend basis




Part of what did this was Trump's tax cuts - below is the US tax take from corporations - while govt spending rose prodigously




that is a ~40% fall in taxes at the strongest time in the economic growth cycle


that is a very very big gap between US annual income and outgoings that someone - Biden presumably- will have to look to fill