"Congress is spending $7 trillion a year, pumping out as much fiscal stimulus now as it did during the Great Recession. All of those excess dollars are spurring retailers to raise prices and the Federal Reserve to slow down interest-rate cuts."
"In the coming years, a smaller share of Americans will work and a larger share will require Social Security payments, Medicare, disability-insurance coverage, and long-term care. More mandatory spending plus less revenue plus soaring interest costs on a hefty preexisting debt load add up to a big problem."
"Over the past decade, the share of Americans who believe that their income-tax bill is unfair has climbed by 14 percentage points. A majority of Americans, in both parties and at all income levels, say that they are kicking in too much."
"The National War Tax Resistance Coordinating Committee, which teaches people how to conscientiously object to income levies, reports surging interest in its training sessions."
The IRS collected an estimated $5.2 trillion in 2025 taxes, but Congress is spending $7 trillion annually, creating fiscal challenges. This excess spending is causing retailers to raise prices and the Federal Reserve to slow interest-rate cuts. A potential economic downturn could lead to joblessness and inflation. Additionally, a shrinking workforce and increasing mandatory spending on social services pose long-term risks. Public sentiment is shifting against taxes, with many Americans feeling overtaxed, complicating future funding for essential services.
Read at The Atlantic
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