July 20, 2022 - Douglas Myser

Who really gets credit for revenue boom. In the last few years it seems everything turned from ok to really bad. The economy turned downward during Covid lockdowns, then it looked like things were turning around after that first winter of Covid, then summer and increased Covid, then more lockdowns and a slower economy. Along with over a million dead in the U.S. alone. Mourning of the dead, destruction of businesses, then a new President, and for some a bit of hope. Then the Ukraine War and a man hell bent on reshaping the world back to the 18th century, not really caring about the death and destruction along the way. Then new strains of Covid and more death. Not to mention the never ending cycle of politics, with one party pointing the finger at the other party, and neither willing to compromise, the cornerstone of a working Democracy. Is anything going well ? Who really gets credit for revenue boom.

Well the IRS and U.S. Treasury would say yes, tax receipts are booming as the pent up demand form several years of lockdowns gives way to the public's appetite for a whole hosts of goods and services. So who should get credit for all the extra money at the IRS ? Well a conversation with either political party and you would have your answer, but seems seem a bit more complicated than that. You see the pent up demand was really due to a commonsense approach, well most of the world thought so anyway, to dealing with Covid. With uncertainty about it at first, the experts said lock down until we can figure this thing out. Makes alot of sense, unless your a politician looking to appease those whose income was disrupted due to the lockdowns. Neither party can claim full credit, as they both had a bit to do with it, but forces beyond their control really were responsible.

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