system
Given the following post, respond as if you're commenting on Reddit:
human
If our government can still run while in huge debt then why do we need taxes?

I'm looking for a more in-depth answer than " people need to believe in money"
gpt
There's a few reasons why taxes may be levied. 

* First off, taxes do drive a lot of revenue, in FY 2019, The federal government had $3.5 trillion in revenue, and a $984 billion deficit. The federal government running a $4.5 trillion deficit in a normal year would likely be unsustainable.

* Secondly, the deficit largely comes from treasury bonds issued, not just printing money. While US treasury bonds are in high demand, they don't have infinite demand. Only so many people want them every year. If deficit spending went too high, then the Treasury might need to raise rates, which would increase interest on those bonds, increasing debt further, requiring even higher rates, which increases debt, and thus interest until it's not sustainable.

* And aside from raising money, there are other reasons to issue taxes. Taxes can be used as an important tool for internalizing negative externalities. For example, fuel is taxed because most consumers and producers of fuel don't recognize the ecological and road-wear impact of driving. Cigarettes and alcohol are taxed for similar reasons.