The federal government collected a record $4,045,979,000,000 in taxes in fiscal 2021.  In FY2017, the federal government collected $3.3 trillion.  This means that, after Trump and the Republicans passed the tax rate cuts that went into effect in 2018, revenues went up over $700 billion per year after three years.

So why do most journalists and other Democrats keep claiming that Trump's tax cuts cost the government trillions of dollars?  They intentionally mislead the public because that is clearly false.  Why do they continue to use the CBO's predictions instead of actual numbers?  The tax cuts cost the government less than zero, unlike those massive spending programs that Biden and most of the media and other Democrats are proposing.

Why would anyone with common sense propose raising tax rates, which would slow economic growth, when the lower rates raised much more money?

No reasonable person would propose taxing unrealized capital gains, which are not income by any definition.  Lawyers, appraisers, accountants, and consultants would have a field day challenging the IRS on valuations.

There is also no way for the CBO or anyone else to make a reasonable estimate of revenues this new tax would raise, as Democrats pretend they will pay for their "human infrastructure" bills and as Biden claims falsely that massive spending bills cost zero.

Most billionaires today were not billionaires twenty years ago.  Capitalism and low tax rates allow people to move up the economic ladder.  Socialism and high taxes make the government stronger and intentionally hold people down while striving to make more people dependent on the government.

The choice is easy!

Photo credit: Gage Skidmore (cropped), CC BY-SA 2.0 license.

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