Comments by "Jacob Watson" (@jacobwatson3781) on "Two experts debate Inflation Reduction Act's potential impact on the U.S. economy." video.

Wait wait wait, there has been at least 6 trillion added to deficit due to tax cuts, also how much debt was occurred for 20 years or war?
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@eriklondon2946 yes all debt is due because of spending. However, over the last 15 years 1/5 of our debt is from tax breaks. We can't limit our debt or reduce it without tax increases and cutting spending. National Defense is now about 1 trillion a year, and that doesn't include all military spending. Next you need to go to SSI/Medicare but no one will touch those 3 programs.
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@shlebmo I'm confused, are you agreeing the increase in debt is not solely based on spending but also tax breaks? And only way to get out of debt is to increase taxes and cut spending?
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@shlebmo doesn't large debt also cause inflation?
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@shlebmo let's say I'm 30000 in debt and my income is based on how much taxes I collect. If I cut taxes won't I go further in debt becuase I have less income coming in? I didn't think generally cutting income is the way to get out of debt. Also there are literally billions and billions of dollars not getting taxed every month and many corporations pay zero in taxes. Saying we're overtaxed isn't defining we the "we" are.
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@shlebmo just to clarify, you're saying the biggest corporations pay taxes at the same rate as the average American?
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@shlebmo okay, so there are no companies who have paid zero in federal taxes?
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@eriklondon2946 okay, but we have to raise taxes and cut spending to get out of debt right? Cutting taxes without also cutting spending might help some but will do greater harm to all of use in the long runI. Look at hoq many huge corporations pay literally zero taxes.
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