Economy What are government finances going to look like in 2021, 2022?

[jk7707]

Well considering the Republican philosophy is now "Don't tax and spend", if Trump wins I'm gonna go with record annual debt. The Democrats are slightly more fiscally responsible as insane as that sounds.

 

[monster zero]

20-30% unemployment rates (lost income), businesses are shut down (lost transactions), the stock market is down (goodbye capital gains), this is all bad for the average person's finances. No one's talking about the worldwide government's finances though.

We're going to be in a 2-fold position:

1) Increased spending to cover all the COVID 19 related welfare.
2) Decreased tax revenue from the lost income, lost transactions, lost capital gains, etc.

This is going to be really bad in the US. I imagine it will be really bad in places like Portugal/ Italy/ Spain/ Greece too. No one's really talking about this yet but it seems to be a problem that's definitely going to be there.

What are the deficits going to look like?

Does it even matter? The functioning of the modern world is a house of cards that tumbles every 10 years. We, the tax payer now have the duty to bail them out apparently. Capitalism is dead. Crony corporatism is king.

Money will be printed and it will devalue the dollars you worked so hard to earn. The money will go to the bankers and you will be told to use your boot straps.

50 years from now home ownership will be out of reach for most of America.

 

[Raptac]

Tax the rich grubs that got us in this mess in the first place... Also who let you out of your high chair, before you finished your porridge. Now be a good boy and run along and play, the adults are talking at the moment.

calm your ass you obese incel loser.

 

[eternaldarkness]

calm your ass you obese incel loser.

Did your mom put the Cookie jar our of reach again? Poor little fella, you know she just wants to help you lose weight, so the other kids don't pick on you so much.

 

[fordman7795]

Buying a house in the next month, and we’re already paying almost 40k more than it was worth last year. Property is only going to go up is how my lady justifies it.

inflation is no joke.

What area and how many $ per sq ft?

 

[Scheme]

More taxes=more spending
Less taxes=less spending

Every time there’s been a major crisis like a war etc taxes are raised. It’s just common sense. Not sure what Ayn Rand brainrot has taken over but that’s some galaxy brain shit to argue against

this isn’t hard

More taxes =/= more spending

https://en.wikipedia.org/wiki/Laffer_curve