As the rich get richer during the pandemic, U.S. sees biggest revenue surge in 44 years
Politico reports: Despite a pandemic, a recession and a slew of tax cuts, federal tax receipts are booming. Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977. That translates into $627 billion more than in 2020, according to the nonpartisan Congressional Budget Office, which estimates that, for the first time, total government revenues topped $4 trillion. “They are just booming,” said Mark Booth, a former top revenue forecaster at…