Did you know that there are two ways to increase revenues generated from taxation?
You can either increase the rate at which you tax the population or you can increase the amount of money the population has.
One of those things results in bringing in more money to the federal government. The other results in being labelled a class warrior.
I just posted that the federal government is set to receive a 6.51% raise. And with the updated numbers I can understand that the government is upset with its raise. After all, since 1941, the average increase in revenues to the federal government is a healthy 9.54%. Even going back to a much more recent 20 year history we are seeing a 4.14% increase, and that’s including the negative 16.60% turkey we saw in 2009.
The fact is this, if you wanna increase revenue, then focus on increasing revenue. Grow the economy, embrace business and celebrate capitalism. On the other hand, if you wanna use the tax code to redistribute wealth in the name of raising revenue, be honest about that.