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A comment on 61% of Americans paid no income taxes in 2020. Parent comment

Re:61% of Americans paid no income taxes in 2020 by Turing_Machine on Thursday August 19, 2021 @10:26PM (#28241757)
When, in recent memory, has the amount taken out in taxes exceeded the amount spent?

Ever?

You are arguing a hypothetical case where the government takes in more in taxes than it spends, thus creating a trend toward deflation.

But that never happens. Like, ever.

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Re:61% of Americans paid no income taxes in 2020 by coralreef on Friday August 20, 2021 @10:56AM (#28246759)
The government could spend less and tax more, but this is politically and socially unpopular, so unlikely to happen.

But its not like its not possible. Some countries have fiscal surpluses. Canada had a surplus in 2018 [1].

I don't see what I'm arguing, and none of it is hypothetical, this is just basic economic theory. It is possible for government spending to be financed by borrowing rather than money creation, resulting in no change in the monetary base. Those mechanics I'm less educated about.

[1] https://www150.statcan.gc.ca/n1/daily-quotidien/201118/dq201...

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