Tootfinder

The federal government’s revenue base is essentially a tax on human time. People work, firms pay them, the government takes a cut. Individual income and payroll taxes are the spine of receipts in normal years.
Indeed. Collapse in the labour economy causes a financial state collapse when the state is funded by a tax on labour.
Productivity is surging, but the gains are flowing to capital and compute, not labor.
Which would ideally mean you tax compute and capital but how's that work when compute and capital own the government already?
The output is still there. But it’s no longer routing through households on the way back to firms, which means it’s no longer routing through the IRS either.