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IRS collects milestone $1B in back taxes from high-wealth taxpayers

(apnews.com)
95 points gmays | 1 comments | 27 Jul 24 02:48 UTC | HN request time: 0s | source
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from-nibly ◴[27 Jul 24 05:12 UTC] No.41084584[source]▶
A reminder that taxes don't fund the government they curb inflation. The government funds itself by printing money and taking out loans.
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s1artibartfast ◴[27 Jul 24 06:18 UTC] No.41084780[source]▶
That simply isn't true. Government spending far outstrips the deficit. It collects 4 trillion and spends 5.
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1. aeternum ◴[28 Jul 24 03:57 UTC] No.41091132[source]▶
And thus the inflation. In the 90s the US gov had a surplus. Disappointing to see the GP comment downvoted as it is correct.

Spending more than we tax will inflate the USD money supply.