Quote:
Originally Posted by marothisu
Obviously inflation can factor into this a little bit but that's a 26.8% increase in income tax revenue Jan-April 2022 vs. Jan-April 2019. I think that on average things are 12% or 13% more expensive now vs. 2019. If everyone got inflationary increase of wages since 2019 and no growth in tax base then we've expect to see around $10.5B but we're seeing close to $11.9B. We'll see how much is wage growth or a lot more higher paying jobs vs. something else. May data will be interesting.
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2020 also had the tax filing date moved back to July, I think. Probably won’t have a true picture until later in the year.