Interest Payments on US National Debt Will Shatter $1,140,000,000,000 This Year – Eating 76% of All Income Taxes Collected: Report

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Interest Payments on US National Debt Will Shatter $1,140,000,000,000 This Year – Eating 76% of All Income Taxes Collected: Report

21/07/2024 2:30pm

The Daily Hodl

The vast majority of Americans’ income taxes are now being swallowed up just to pay interest on the country’s national debt, new numbers show. Economist E.J. Antoni reports that based on the Fed’s June numbers, interest on the national debt is the equivalent of 76% of all personal income taxes collected by the government. “Interest […]

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