- Jan 22, 2020
- 13,967
- 12,653
- 2,290
Thanks Biden! Who’s Laffering now?
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U.S. sees biggest revenue surge in 44 years despite pandemic
Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.www.politico.com
Despite a pandemic, a recession and a slew of tax cuts, federal tax receipts are booming.
Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.
That translates into $627 billion more than in 2020, according to the nonpartisan Congressional Budget Office, which estimates that, for the first time, total government revenues topped $4 trillion.
“They are just booming,” said Mark Booth, a former top revenue forecaster at the agency. “It is very unusual.”
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U.S. sees biggest revenue surge in 44 years despite pandemic
Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.www.politico.com
Tax revenues went up a the year after the entire country was shut down.
You’re an economic genius!