Why are the Democrats re-arming an IRS that, mercifully, “went down early … went down hard,” and hasn’t “come back” from the pandemic? Is the federal government hurting for money? Not at all.
“Total federal tax collections, including payroll and other taxes, reached an all-time high in nominal terms of $4.05 trillion in fiscal year 2021, amounting to 18.1% of GDP, well above the long-run average of 17.1% over the 20 years prior to” the passage of 2017’s Tax Cuts and Jobs Act, says the Tax Foundation. What’s more, “total collections are running 25% higher in fiscal year 2022.”
When record revenue isn't enough for the government.
