I think asking the question that way completely misunderstands how the system even works.
By way of analogy, let me see if I can explain. I will explain using a similar “water” analogy in the diagram.
Let’s say your bathtub is close to full, but it’s cold and you want to add more hot water. If you don’t want to cause the tub to overflow you have to drain out some water, do you think the water that goes down the drain feeds the faucet that adds the water?
Does draining water drain away create room in the tub for you to add water? In this sense, the drain doesn’t supply the faucet, the drain makes it possible to create room in the tub for more water.
So I don’t believe that taxes pay for spending, I believe that taxes make room for spending.
What that means is that taxes aren’t meant to pay for things, rather they are a fiscal tool for tuning the overall economy. That is to say, there are times when taxes can be low and times when taxes will need to be higher, but the amount of tax isn’t directly related to spending, rather the state of the economy overall.
The problem that will arise in this group is, how is new money created?
THere is exogenous and endogenous money.
Most of the money you and I use is created by the banking system exogenously as “credit”.
Here’s where we are probably going to run into another point of contention.
Banks don’t lend the deposits of their customers to other customers (only to other banks).
But unless you’re really interested in this conversation, I’ll leave it here.