Re:U.S. SEC Wins 'Shadow Insider Trading' Trial
by JumpCrisscross on Saturday July 06, 2024 @09:19AM
(#40890296)
> Most of that money which the government created comes back to the government via taxes
Super wrong. (At tends of quadrillions of dollars wrong this might be the wrongest economic take I have ever seen.)
Total taxes in the U.S. in 2023 were $4.5tn [1]. GDP, a sum of transactions, $29tn [2].
More trivially: the money supply, at $21 quadrillion [3], dwarfs both the federal budget and the Fed’s balance sheet combined, and has almost-monotonously grown over the last century.
Super wrong. (At tends of quadrillions of dollars wrong this might be the wrongest economic take I have ever seen.)
Total taxes in the U.S. in 2023 were $4.5tn [1]. GDP, a sum of transactions, $29tn [2].
More trivially: the money supply, at $21 quadrillion [3], dwarfs both the federal budget and the Fed’s balance sheet combined, and has almost-monotonously grown over the last century.
[1] https://fiscal.treasury.gov/files/reports-statements/financi...
[2] https://en.wikipedia.org/wiki/Economy_of_the_United_States
[3] https://fred.stlouisfed.org/series/M2SL