increased last fiscal year. While this is certainly good news,
the deficit was at that time $1.8 trillion. The Democrats call
this a critical lack of revenue, stating that corporations, wealthy
people, really everyone and anyone who has money aren't
paying enough in taxes --- they aren't paying their "fair share",
don't you know. But despite the towering deficit, federal revenue
increased by $479 billion year over year for an 11% rise.
$343 billion of that increase came from individual-income taxes
and payroll taxes. Corporate tax collections went up by
$109 billion. As U.S. GDP growth for the 2024 FY grew
approximately 2.5%, revenue growth has surpassed economic
growth. But Congressional Democrats want to take even more
from these sources because they allegedly don't pay their
"fair share". Yet when they do get their way on tax increases
these clueless greedheads spend the money faster than they
can receive it.
No, Democrats, the problem is not too little revenue; the problem
is too little spending restraint, and that's on you.
MEM
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