the Air Vent

Because the world needs another opinion

Archive for February, 2019

Record Income Tax Collection Even After Inflation

Posted by Jeff Id on February 14, 2019

As I reported before, the US collected record income tax revenues after the tax cut.  This is due to higher real wages as well as more people working.  So lower tax = higher receipts for the federal government.  This is a strong indication of what I’ve written here for a decade now, we are on the back side of the Laffer curve and the government was taking so much it was creating a bad economy.  I reported this in my previous post – refuted indirectly by the NYT despite showing no data.  I’ve found several sources since then which agreed with me.

Today I found one that was apparently inflation corrected and still MORE INCOME TAX REVENUE!!

The bad news is that the government spent it all and more!!! — A LOT MORE.

Link to this source is here.

Graph from the article is here:

 

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