Uh oh... FY2023 YTD Individual Federal Income Tax Revenue DOWN 17.9%, Federal Outlays UP 7.9% (deaths, layoffs)
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That's some mighty fine cherry picking right there in the OP.
Go to page 7 of the second linked report. Note that April 2022 was an outlier for federal revenue. Also note that it was caused by stimulus payments, unemployment compensation, and SBC pandemic relief plans - AKA massive federal government spending in response to COVID.
"AKA massive federal government spending in response to COVID"
ONLY covid? get a life!
Last edited by Quick Enough; 05-10-2023 at 10:18 AM..
"Hey Fat, I passed the Erection Reduction Act......wait.....that doesn't sound right. Jackie, what was the name of that Act I passed. Is Jackie here? Someone said she was going to be here. Oh, right, I passed the Inflation Reduction Act. That's what I passed. You know when a Biden takes on inflation, it's going down. Like Corn Pop."
-- Joe Biden
Clearly, as is ALWAYS the case, the fed gov has a spending problem, and most of it starts with the military budget, medicare fraud, and a few other things. These idiots in DC don't understand budgeting, because they aren't spending their own money.
The biggest problem to me is, we are spending too much on things NOT in the Constitution.
Way too many dems seem to want Socialism.
Why do we spend BILLIONS on a Dept of Education, when it is NOT in the Constitution?
Why do we spend so much on infrastructure,etc., that is the responsibility of the STATES?
How may non federal libraries have we built?
Every gov't agency could be cut 25% with ZERO negative affect.
I works for both Dept. of Defense and civilian agencies and saw it EVERY DAY..
I could go on and on for quite a while with examples.
Give people lotsa money from the federal government in 2021, have them pay taxes on it in 2022.
Do you really not understand this?
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%.
If we give unemployed more money, won’t that help them pay more taxes and solve this problem? think:
That's sarcasm, correct?
If not, that's just the Fed Gov spending more money they DON'T have.
Here's why...
"GIVE" an unemployed person an extra $20,000/year. They pay $2,000 in Federal Income Tax on that (highly unlikely, but let's pretend for now). The Fed Gov is still OUT an extra $18,000 per unemployed person in deficit spending.
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
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