Despite Federal Tax Hikes, Revenues Are Way Down—Here Are 5 Reasons Why

Despite Federal Tax Hikes, Revenues Are Way Down—Here Are 5 Reasons Why
President Joe Biden signs the Inflation Reduction Act as Democrat lawmakers look on at the White House on Aug. 16, 2022. Drew Angerer/Getty Images
Preston Brashers
Updated:
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Commentary

The fact that the government raises taxes doesn’t necessarily mean it will raise more revenues. The Biden administration is discovering that the hard way.