/biz/ - Business & Finance

>The Treasury Department is also on track to take in substantially less in new revenue this year, in part because of the stock market’s slump last year. In 2021, amid a cryptocurrency bubble and an explosion in housing prices driven by rock-bottom interest rates, investors recorded huge gains that led them to pay capital gains taxes at record levels. But then the bubble burst, leading to a sharp drop in capital gains tax revenue.
lmao, Mumus got btfo hard enough in 2022 that it increased the deficit

>>56016829
looks like it's $2.2T since August 2022 so I guess that's 9% of GDP