gdp
total taxable income in the us has increased by 50% since 1970. during the same period, gdp has grown by 10x. that's a whopping 900%. um. hrm. these numbers don't jibe. what's going on? presumably gdp is the sum total value of all the goods and services we produce. so how are we buying $10 worth of stuff for $1.40? we can't be paying cash. is the gdp propped up by collosal debt? you build a house. i buy it for $1.1 million dollars. i guess that's $1.1 million for the gdp ledger. but i owe $1 million to the bank. okay. let's look at total personal debt. it approximately doubled. so that's definitely a contributor. but not all. not even most. i'm kinda left with the theory that that quite a lot of the money movage that would have been taxed as income when i was a little leaguer is now slipping through loopholes. untaxed. and it sure isn't your paycheck.