Tax Dollars Vanish: 76% of Income Tax Eaten by Ballooning $35 Trillion Debt, Data Shows

Economic data shows that a growing shar of Americans’ income tax is being devoured by the interest payments from the country’s ballooning national debt, which according to online trackers is now close to the $35 trillion mark. As Heritage economist E.J. Antoni pointed out on the microblogging platform X (formerly known as Twitter), interest payments […] source: https://www.cryptoglobe.com/latest/2024/07/tax-dollars-vanish-76-of-income-tax-eaten-by-ballooning-35-trillion-debt-data-shows/