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
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.
Starve the Feds of revenue unless Trump wins 2024.
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.
Geez. In my entire life NO ONE uses the proper term “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...
I was under the assumption (and I think I saw an article) that tax revenue had never been higher, at least in recent years, given inflation.
How about the basic reality that 1,000’s of tax paying and working Californians have moved to other states.
In our culdesac, we have had 2 good income earners leave California in this year.
Also, a husband and his wife died last year. They paid taxes on their SS, IRAs and retirement checks. Now the state and feds get 0 taxes on those gone forever monthly checks.
1) Biden
2) Biden
3) Biden
4) Biden
5) Biden
Taxing all the Blockbuster and other video rental stores as well as electronics places like Radio Shack didn’t bring in as much tax revenue this year as they expected. Neither did the 5 cents per copy tax on newspapers delivered to homes and offices.
Go figure.
I have no ‘earned, taxable income’ and I get along just fine. :)
We’re not spending JACK on anything beyond the basics. No home improvements, no vacations, no dining out, combining errands into ONE day a week to save on gas.
Buying nothing besides milk, eggs, butter and toilet paper. OK, I DID have to buy some canning jars this season, but they pay for themselves in the long run. Using up whatever is in the freezer for meat. Hunting and fishing in season. Growing my own steer for this winter into spring and buying half a hog for CASH from the neighbor this October.
And there are MILLIONS more Rural Folk just like me in my age bracket and income level. We all had an ‘informal meeting’ DECADES ago and whenever a Socialist Democrat is in The White House, we slash expenditures and hunker down until it passes. It’s like a kidney stone but still, it passes. ;)
Screw You Mother Government and the ELECTION you STOLE to ride in on!
From the bottom up and top out everyone is suffering under Biden.