The US government is set to collect a record-high $2.6 trillion in income taxes -- and a third of

[Yo_Mama_Been_Loggin]

that is because people got raises

Americans are getting paid more — and those bigger paychecks are taking in more taxes.

A report from the nonpartisan Congressional Budget Office estimates how tax revenue coming into the federal government's coffers will change over the next few years. According to the report, individual income taxes will see a big boost in 2022, jumping 28% from 2021. That means that they're anticipating $2.6 trillion in income taxes — making the 2022 estimates the highest amount recorded since the 16th Amendment gave the government the right to have a federal income tax in 1913.

So why is the government getting so much revenue from taxes in 2022? Some of it can be attributed to pandemic-era economic conditions.

A third of the increase comes from the expanding economy and wages, according to the report. CBO estimates that wages will rise 10% in 2022 — and so far they're on an upward trend, according to the monthly jobs reports that the Bureau of Labor Statistics puts out. However, even as many workers are getting a raise or reshuffling into a higher paying role, those wage gains are getting eaten up by inflation — but they're still getting taxed on beefed-up paychecks.

https://www.msn.com/en-us/money/markets/the-us-government-is-set-to-collect-a-record-high-dollar26-trillion-in-income-taxes-%e2%80%94-and-a-third-of-that-is-because-people-got-raises/ar-AAYAWAN

Billionaires need another tax cut - Moscow Mitch

[Magoo48]

1. Didn't take long for our corporate overlords to balance our increases in wages with greed

propelled inflation. They want every extra penny, and they have retained the political power to make sure they get those pennies and then some.

[LoisB]

2. Amen!