I’m not going to get into spending. This is tax collection only (which they call revenue….total BS use of the term revenue).
They are out hyping the $1.9T deal as saving America and Americans. People need relief and Xiden is coming to the rescue. Now do the math on what it costs each person to give some $1400.
Notice that tax collection continued to rise after the Trump tax cuts. I thought the corporate and personal cuts were going to kill collections….never did. Never would. Fair share
Total tax collection will be up 78% since 2010! This far exceeds personal income growth over the same period. Personal income was essentially flat during that period with the exception of the back half of 2020.
Imagine if everyone’s personal income grew 78% every 10 years or 7.8%/yr. I do well but I haven’t gotten 8%/yr raises every year over the last 30yrs. Imagine asking for that bump every single year.
They never tell you that collections are almost 2x what they were in 2010. They always act broke and borrow even more. Now enters the spending and borrowing and inflation conversations.
Every time America has cut taxes, tax revenues have risen. This is mathematical proof that taxes are too high, not optimized. It's well understood in economics that the ideal rate, in our case LOWER, raises revenues by encouraging more spending, employing more people, driving more investment, etc. But Obama made it clear: the Dems DON'T WANT tax revenue, or they would lower taxes. Rather they want to punish the rich and give their stealing to the lower class. This is ideology, not accounting.
I’m not going to get into spending. This is tax collection only (which they call revenue….total BS use of the term revenue).
They are out hyping the $1.9T deal as saving America and Americans. People need relief and Xiden is coming to the rescue. Now do the math on what it costs each person to give some $1400.
Notice that tax collection continued to rise after the Trump tax cuts. I thought the corporate and personal cuts were going to kill collections….never did. Never would. Fair share
Total tax collection will be up 78% since 2010! This far exceeds personal income growth over the same period. Personal income was essentially flat during that period with the exception of the back half of 2020.
Imagine if everyone’s personal income grew 78% every 10 years or 7.8%/yr. I do well but I haven’t gotten 8%/yr raises every year over the last 30yrs. Imagine asking for that bump every single year.
They never tell you that collections are almost 2x what they were in 2010. They always act broke and borrow even more. Now enters the spending and borrowing and inflation conversations.
Source for tax collection chart : https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762
Every time America has cut taxes, tax revenues have risen. This is mathematical proof that taxes are too high, not optimized. It's well understood in economics that the ideal rate, in our case LOWER, raises revenues by encouraging more spending, employing more people, driving more investment, etc. But Obama made it clear: the Dems DON'T WANT tax revenue, or they would lower taxes. Rather they want to punish the rich and give their stealing to the lower class. This is ideology, not accounting.