How out of control is our govt spending? Individual income taxes + corp income taxes will be about $3 trillion in 2026. We will spend $1.3 trillion in interest payments on the $39 trillion national debt. 43% of all income taxes ... goes to interest payments on the debt. The other big pieces of the govt revenue is collecting social security taxes, which just pass through to social security recipients. Within the next few years we will reach the point where interest on the national debt is consuming 50% of all individual and corporate income taxes collected. And our annual budget deficits at $2 trillion to $3 trillion per year and making the problem worse. If the debt grows faster than the US economy, then eventually the interest payments consume all of the tax revenue. We are entering a debt doom loop, where we have to borrow more and more just to pay for government to function.(Wall Street Mav)