Spend too much time reading the Happy Days Are Here Again hosannas and then looking at actual real world numbers, and you’re sure to come away with a case of cognitive dissonance. From Jim Quinn at theburningplatform.com:
I know some people don’t like charts, but I think they tell stories. The two charts below tell a story the mainstream media, Trump, Wall Street, and the Deep State don’t want revealed. The first chart shows the year over year percentage change in personal income taxes collected by the Federal government and the second chart shows the year over year percentage change in corporate income taxes collected by the Federal government.
The government drones can’t seasonally adjust, massage, or fake these numbers like they can inflation and unemployment.
A critical thinking person might ask, how can the unemployment rate have fallen to levels last seen in 2007 if personal income taxes collected has been essentially flat for the last two years? The last time unemployment was supposedly this low, the Feds were collecting taxes at a 12% to 18% annual rate over the prior year. Either the BLS is lying about the unemployment rate or the jobs being added are nothing but low paying shit jobs.
A critical thinking person might ask, if the stock market is at record highs because the economy is doing so well and corporations are rolling in dough, why have corporate taxes collected by the Federal government declined for the last three years? Corporate taxes collected have declined because corporate profits are lower than they were three years ago. Have you heard that fact on CNBC? The market isn’t being driven by corporate profits, but just massive levels of Fed created debt, recklessly low interest rates, and a false narrative being spun by Wall Street, their media mouthpieces and even Trump.
To continue reading: A Critical Thinking Person Might Ask