Bush and Trump both cut taxes and increased revenue.....
https://issuesinsights.com/2023/06/...lan-is-working-why-are-tax-revenues-plunging/
President Joe Biden loves to brag about the masterful job he’s doing managing the nation’s economy, as he did on Tuesday when cheering the latest inflation news – which saw food prices up almost 7% from last year – and “our historic economic progress.”
The day before that, the Treasury Department released its monthly financial statement, which shows that the federal deficit for this fiscal year has already topped $1 trillion and that’s a big factor behind this is a sharp reduction in federal tax revenues from last year.
Wait, you say. If the economy is “strong” and “historic” as Biden claims, why are revenues cratering and deficits exploding?
https://issuesinsights.com/2023/06/...lan-is-working-why-are-tax-revenues-plunging/
President Joe Biden loves to brag about the masterful job he’s doing managing the nation’s economy, as he did on Tuesday when cheering the latest inflation news – which saw food prices up almost 7% from last year – and “our historic economic progress.”
The day before that, the Treasury Department released its monthly financial statement, which shows that the federal deficit for this fiscal year has already topped $1 trillion and that’s a big factor behind this is a sharp reduction in federal tax revenues from last year.
Wait, you say. If the economy is “strong” and “historic” as Biden claims, why are revenues cratering and deficits exploding?
