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Maybe It’s Just “Transitory” 🙄
This is NOT that complicated: Expenses – Revenues = Deficit. In business, the first two numbers are flipped, which should tell you how pathetically bad government manages money. The Biden Administration has supercharged an already-overspending government, and now he wants to add even more by indefinitely funding two wars (and probably more before his term is over). As for revenue, despite higher tax rates, total revenue is plummeting. Why?…because his policies are slashing investor earnings and business profits. In other words, there’s less of a taxable income base to steal. It doesn’t matter how high tax rates are if income is disportionally reduced. For example, 25% X $1 million = $250,000; 50% X $0 = $0. Just a reminder, Trump tax cuts are set to expire in January 2025. Contrary to the mainstream media portrayal, this will hit ALL tax brackets, from minimum wage workers to CEOs. Hmmm…I wonder why they scheduled the expiration for January 2025? Can anyone explain, class? 🤔
10 Reasons Why Raising Tax Rates Decrease Total Revenue (and Vice Versa)
11 Reasons Government is Less Efficient Than the Private Sector
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