J.T. Young is a writer focused on fiscal policy, government spending, and taxation. He contributed to The Weekly Standard in 2010, writing analyses critical of the Obama administration's debt and revenue policies.
Washington just closed the book on the federal government’s latest dismal fiscal year. According to the nonpartisan Congressional Budget Office, this year picked up where last year left off – extending spending, deficit, and debt records.
Last year’s unsurprisingly dismal budget numbers contain a surprising revenue story. While overall federal revenue fell precipitously, payroll tax revenue barely dipped at all. This divergent tale of two taxes has one conclusion but many implications. America’s tax system, decidedly tilted…