Taxes and spending. After FY2021, federal tax collections and outlays did in fact move sharply higher and stay elevated. Federal tax revenue jumped to $4.9T in FY2022—about 19.6% of GDP, one of the highest shares ever recorded and well above the ~17% post‑war average—and remained historically high thereafter. (taxfoundation.org) Federal outlays stayed far above their historical norm: spending was 25.1% of GDP in 2022 and 23.4% in 2024 versus a 50‑year average near 21%, with nominal outlays rising from $6.27T (2022) to $6.75T (2024) and over $7T by 2025. (crfb.org)

Deficits and debt. Post‑COVID deficits never returned to traditional peacetime levels. The deficit was 5.5% of GDP in 2022, 6.3% in 2023, 6.4% in 2024, and about 5.9% in 2025—roughly double the 50‑year average of ~3.6%, and among the largest peacetime deficits on record. (en.wikipedia.org) Debt held by the public reached about 97–98% of GDP by 2023–24, while total gross federal debt climbed to roughly 123% of GDP in 2025—explicitly described as the highest in U.S. history and the first time debt has been sustained around 100% of GDP in peacetime. (fiscal.treasury.gov) These outcomes align with his concern about record‑level peacetime deficits and national debt persisting or worsening.

Unicorn “golden era.” 2021 is broadly documented as an extraordinary, peak year for unicorn formation. CB Insights and related analyses show that around 500–600 new unicorns were created in 2021, more than in the previous decade combined, roughly doubling the global herd to over 1,000 and leading many commentators to call 2021 “the year of the unicorn.” (netguru.com) After that, conditions deteriorated: North America and APAC “suffered a setback” in 2022, with new unicorn creation dropping sharply relative to 2021, and from 2023 through mid‑2025 only about 100‑plus new unicorns per year were being added—similar to pre‑boom years rather than 2021’s surge. (globaldata.com) Venture funding and exits also remained far below 2021 levels: by 2024 global VC investment was still about 55% under its 2021 peak, and annual exit value (~$149B in 2024) was a fraction of 2021’s ~$842B. (reuters.com) Analysts describe a large backlog of unicorns stuck in private markets, many valued at bubble‑era 2020–21 prices, reinforcing the idea that 2021 was a unique high‑water mark. (news.crunchbase.com)

Overall assessment. While most of the post‑2021 tax burden increase came from bracket creep, inflation, and revenue strength rather than explicit new tax-rate hikes, the facts match the spirit of Sacks’s forecast: (1) federal taxes collected and government spending both rose to and stayed at unusually high levels; (2) peacetime deficits and national debt remained near or moved toward record highs; and (3) 2021’s unicorn boom is now widely viewed as an exceptional peak followed by a materially tougher funding and exit environment, despite a later AI‑driven niche boom. On balance, the prediction has substantially come true.