Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Democrats here on City-Data tell me that we’re in this situation because the IRS doesn’t have enough agents to collect tax dollars, so that’s why the debt ceiling deal is “dangerous” for our country, since it rescinds some of that additional IRS funding. /shrug
The IRS can't collect taxes that AREN'T due. THAT'S the problem.
WHY are Individual Federal Income Tax obligations falling off a cliff when Biden claims he has created 12.6 million NEW jobs?
The IRS can't collect taxes that AREN'T due. THAT'S the problem.
WHY are Individual Federal Income Tax obligations falling off a cliff when Biden claims he has created 12.6 million NEW jobs?
Created? Or after the massive covid layoffs/deaths/and retirements he's 12.6 million of 30+ million lost? return to the workforce?
Biden: Puts $5 in slot machine, gets $1 back "I'm winning".
A 17.9% drop is indeed a major flop. I posted when Biden got elected we'd experience the worst recession since the great depression, and thanks to Covid emptying the gov't coffers there will be no big bailouts this time.
Created? Or after the massive covid layoffs/deaths/and retirements he's 12.6 million of 30+ million lost? return to the workforce?
Biden: Puts $5 in slot machine, gets $1 back "I'm winning".
Even IF they are returning jobs, not new jobs... HOW does an additional 12.6 million jobs translate to a 17.9% DECREASE in Individual Federal Income Tax obligations year over year?
This is why looking at the US Treasury's APRIL statements are so important. April includes the final payment deadline for the prior year's Individual Federal Income Tax obligations.
But Biden said he created 12.6 million new jobs. HOW does that translate to a 17.9% DECREASE in Individual Federal Income Tax revenue? It would have to mean that NONE of the people working in those 12.6 million new jobs are paying any IFIT AND that everyone else is earning so much LESS that their IFIT liability collectively decreased by 17.9%.
That's HUGE.
You're shrieking.
Your own data that you presented showed that the month of April 2022 was an outlier for federal tax revenue.
Explanations for said outlier are out there, but they don't confirm your premise.
Your own data that you presented showed that the month of April 2022 was an outlier for federal tax revenue.
Explanations for said outlier are out there, but they don't confirm your premise.
What explanations? No one has given any explanation. Again, the question is... How does the creation of 12.6 million new jobs translate to a 17.9% DECREASE in Individual Federal Income Tax revenue, year over year for the first 7 months of the fiscal year?
This is why looking at the US Treasury's APRIL statements are so important. April includes the final payment deadline for the prior year's Individual Federal Income Tax obligations.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
