by Charles L. Hooper
September 24, 2013
With a “progressive” tax code and a growing economy, the government’s tax collections grow relatively faster than the income of regular Americans. During recessions, when income falls, the government’s tax collections shrink relatively faster. It is exactly this relationship that makes the government the biggest beneficiary of a strong economy and the biggest loser in a down economy. But you would never know that from the myopic, anti-economic policies regularly instituted by politicians and bureaucrats. They haven’t learned from or acted on the refrain: It’s the economy, stupid.