Think debt, taxes, and spending are at all-time highs these days?
It turns out that belief is almost totally false.
A presentation from the Bureau of Economic Analysis includes three charts that everyone should see.
It turns out, taxes are lower than through most of history, debt as a percentage of GDP has been much higher in the past, and on government spending, only if you include transfer payments (like Social Security) is spending at a new high relative to GDP. If you look at actual government spending that doesn’t go straight to people, it’s low.
Anyway, if you know anyone who thinks taxes, debt, and spending are at all-time highs, then email them this post.
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