re: Biden Lied: Bidenomics Means The Middle Class Will Soon Be Paying More In Taxes

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Trumps cuts lost money

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So, "not true" and herein lies the problem, Roger. You believe things that aren't true.

You will agree that the "Trump Cuts" applied to U.S. Federal individual income taxes (or at least overwhelmingly), won't you?

For context, 2015 - 2017 was a relatively flat cycle - using 2023 dollars, all just under $2T.

2018 and 2019, they went to $2.05T, a plus of 2 1/2 to 3% over "pre-Trump" receipts. Yes, 2020 went down, but absolutely not because of the "Trump Cuts". Those "Trump Cuts" are still in place and, post-Pandemic, have SURGED almost 3/4 of a TRILLION dollars in 2022. Certainly some inflation in that (and fairly pent-up, pre-COVID demand), but these figures absolutely prove the "Trump Cuts" didn't "lose" money - if anything, they set the stage for the 2022 surge.

Yes, receipts are back down, but still well over 10% over the Pre-Trump income tax receipts.

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f we balanced budgets, it wouldn't be.

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Back to my rock solid, irrefutable point - we have a spending problem. This budget CANNOT, WILL NOT be balanced with taxes. This economy (really any economy) resists taxation of over about 19 - 21%. You can do all the class warfare you want and it just shifts the burden of that taxation, assuming your tax structure is efficient (and ours is, relatively speaking in the grand scheme of things).

So, raising rates will not increase revenue (over perhaps a single cycle short term burst before the economy shifts away from the taxation) and long-term will decrease it as it usually creates disincentives for taxable activity.

I would ask you to at least consider that tax rates do not exist in a vacuum and folks will respond to increases in tax rates in ways that are not conducive to funding the U.S. government.

Thank you, please drive through.