More federal revenue isn’t the answer
The federal government needs more of our money, some Washington politicians insist.
Really? During the fiscal year that ended Sept. 30, Americans paid 6 percent more income and Social Security taxes than during the previous 12 months.
Corporations dodge their obligations, the tax-and-spend crowd assures us. Again, really? Corporate tax receipts for fiscal 2015 were up 7.2 percent.
Bear in mind inflation was virtually flat during the year – for most cost-of-living measures. But the cost of government went up substantially for individuals, families and businesses. Including all taxes, fees, tariffs, etc., collected by the federal government, its revenue was up 8 percent for the year.
No, the problem in Washington isn’t that our taxes are too low.
It is, of course, that federal government spending is too high.