Just yesterday, The Wall Street Journal published a very informative article by Tom Fairless on taxation in the U.S and around the world—but not once does the author suggest that governments confiscating a greater share of the economy is a problem. See the headline and lede below:

The Era of Big Taxes Is Upon Us

With debt more expensive, rich countries are turning to voters and businesses to pay for growing spending needs[.]

(The statements in italics are direct quotes from the article.)

Rich nations are raising more money from taxpayers than they have in decades to finance a burst in state spending and rising interest rates.

Isn’t that just great? The government is confiscating a greater share of people’s hard-earned money.

In the U.S, tax receipts at all levels of government climbed to nearly 28% of GDP last year, up from 25% in 2019 and the highest level since 1965, aside from a brief period of budget consolidation during the Clinton administration.

You would think that would be enough, but Democrats say people aren’t paying their fair share. Federal revenues totaled $3.3 trillion in FY 2017, before President Trump’s tax rate cuts, and totaled $4.44 trillion in FY 2023—so the federal government saw around a 33% increase in six years. Revenues went up rapidly; they did not cost the government two trillion as Joe Biden and others frequently say.

Meanwhile, the federal government spent $3.982 trillion in FY 2017, and $6.13 trillion in FY 2023—or up around 50% in six years. So where is the recommendation to limit or cut spending?

That tax revenues are rising as a share of GDP means their pace is outpacing economic growth, singling a growing government role in the economy. 

I would think the “right-leaning” WSJ would think that a more powerful government would be a problem, but nowhere in the article does it mention that.

The trend towards higher tax receipts is likely to continue as rising borrowing costs collide with state spending needs from military budgets, to welfare for aging populations, to climate change….

You see, the government needs the money. They run up debt, run up spending, run up inflation with the printing and spending and regulations, and so they need the money—$33 trillion in debt is not for the people.

As for climate change, it is a scam for politicians and bureaucrats to claim they can control the climate if we just give them more of our hard-earned money. It is nothing more than a slush fund for politicians, bureaucrats, and green pushers to enrich themselves.

The article says tax receipts in Germany and France are up to 39% and 46% of GDP, respectively, noting this: “In both countries, tax-to-GDP ratios are at the highest levels since records began in 1965.” Has this high level of tax receipts helped the people, or helped make the government more powerful? Are things going well in those European nations or poorly?

The last paragraph in this article is pathetic and dangerous. It advocates for higher taxation burdens on Americans, even though Fairless says that would be “tricky.” Like Biden, they would blame those darn Trump supporters. :

As one of the lowest taxed rich countries in the World, the U.S has more scope than many companies to raise taxes, although that path would be politically tricky. China’s share of tax revenue is lower still at around 21% of GDP.

So people are having trouble paying their bills, buying houses, keeping auto loans and credit cards current, saving for emergencies and retirement, and this journalist assures politicians that there’s room to confiscate more, as long as it’s done craftily.

No amount of our hard-earned money is ever enough for greedy politicians and bureaucrats, and their media accomplices.

Image generated by AI.