Revenue from the Corporate Tax
Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
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Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.
“Today’s Fed action is an important reminder that interest rates do not remain low forever, and have significant implications for our national debt," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2022/03/peterson-foundation-statement-on-fed-action
CBO projects that interest rates will remain low throughout the decade.
https://www.pgpf.org/chart-archive/0269_interest_rates_projected_to_rise
“Rising interest rates mean rising interest costs, and Americans understand that’s a major problem for a country that’s $30 trillion in debt,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/03/fci-press-release
SNAP benefits supplement household incomes to help lift people out of poverty.
https://www.pgpf.org/chart-archive/0264_snap_supplements_income
SNAP spending sharply increased in response to the COVID-19 pandemic, but is projected to decline below historical levels over the next decade.
The majority of SNAP beneficiaries are people from vulnerable populations.
https://www.pgpf.org/chart-archive/0282_snap_characteristics
Since its establishment in 1935, Social Security has grown to become the largest program in the federal budget.
https://www.pgpf.org/blog/2023/02/social-security-reform-should-we-reduce-benefits