▲ 6 r/theydidthemath
[Request] If there was a mass movement for US taxpayers to change their tax withholdings to the minimum amount required (i.e. just SS & Medicare) how much daily cashflow could the federal government lose before it would cause a problem with daily operation?
I read an article somewhere that the federal government relies on consistent and constant daily cash flow from income tax withholdings from people’s paychecks. However taxpayer aren’t required to pay those taxes until they file their taxes in April other than the withholdings for Social Security and medicare. The same article said that around 85% of US taxpayers voluntarily withhold tax from their income. So what if taxpayers upset with how the government is currently operating decided to change their voluntary pension tax withholding to $0. Opting to put it in saving and paying them when they’re due in April instead. How much daily revenue could the federal government lose before it became a problem?
u/ExtensionServe6904 — 5 days ago