Sunday, March 26, 2017

Income Tax Filings Down, Income Tax Revenue Up

The Internal Revenue Service (IRS) is sweating. The burdensome bureau reports that individual income tax filings are down 8.5 percent from this time last year. That amounts to 5.7 million fewer filings from “taxpayers.”

That might sound satisfying to those of us who recognize the income tax as the unconstitutional seizure of property that it is. But before you pop the cork on the bubbly, compare the fall-off in filings with the ramp-up in revenue.

In its monthly statement, the U.S. Treasury Department reports that it collected $611,318,000,000 in individual income tax revenues through the first five months of fiscal 2017 (ending on February 28). That’s up $6,733,300,000 over the same period last year.

So, fewer people are filing their taxes, but the government is collecting more money from the filings?

No comments: