Posted on 09/11/2023 3:25:25 PM PDT by Tolerance Sucks Rocks
What kind of moron thinks raising taxes should result in tax revenue increases??
they are wa on the wrong side of the tax curve. Going into recession/depression you HAVE to cut taxes
The same morons who think Biden is fit to serve a second term no matter what.
Laffer is laughing.
“Experts” gobsmacked.
And journalists are clueless, as usual.
Biden Raised Taxes, but Tax Revenues Are Way Down This Year. Here Are 5 Reasons Why.
because we are in an undeclared recession. Heading into a depression.
They can move all the goal posts and change all the definitions they want, but it doesn’t change the outcome.
Two consecutive quarters of negative loss to GDP equals recession.
Tax increases kill economic growth; diminished economic activity means less tax revenue is generated.
Every. Single. Time.
DUH.
The Reagan tax cuts doubled the revenue to the U.S. treasury in the 1980s.
We’re buying less vehicles and houses. So you get less taxes from that.
Exactly.
Unfortunately, that's the kind of moron running our government.
Starve the Feds of revenue unless Trump wins 2024.
My corner store sells 100 candy bars a day at $1 each. They should raise them to $2 each. The owner would make an extra $36,500 a year!
I’ll add a 6th reason revenue is down: in 2021=22, Bitcoin went down 300% and any number of people lost their fannies on it. Since the IRS began demanding to know all crypto transactions, thinking they’d catch people making previously untaxed money, a funny thing happened: all those tax sugarplums turned into tax write-offs, spaced over years ($3K/year until the loss is fully written off).
That adds up. Correction: that subtracts down.
One of the reasons is that Hunter Biden didn’t pay his taxes.
#7
A percentage of people, mainly wealthy retired people, have structured their savings to avoid taxable income.
My wife and I have no earned income. We cost the Treasury money.
Inflation itself usually results in increased revenue.
For example, there is a 12% Federal excise tax on Class 8 trucks. In 2019, a 2019 Peterbilt cost $168,000. In 2023, it cost $193,000.
.gov loves inflation.
Geez. In my entire life NO ONE uses the proper term “tax rates”.
Because the money can and does move to areas with lower tax rates.
If you tax something, you get less of it.
Democrats raise taxes on luxury items - the wealthy stop buying luxury items. Tax revenues go down, companies that make the luxury items go out of business, Democrats wonder why and blame the wealthy as tightwads.
But wait....all those bazillion new jobs...ofhhh...part time and minimum wage...
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