Tax burden / tax cuts

The inherited tax burden, measured properly: revenue for the twelve months ended September 2026 equals $250.1 trillion in September 2026 pesos, against $278.7 trillion for the twelve months ended November 2023 — that is, 10.3% LESS in real terms. ⚠️ This is the axis where the published number points the opposite way from the arc: September's +38.3% nominal year-on-year reads as rising revenue, and what the real series shows is a State collecting less than the one it inherited. ⛔ The arc does NOT go in nominal pesos: the same twelve months give ×5.66 and almost all of it is inflation. And NOT month against month: revenue is strongly seasonal —May and July carry Income Tax deadlines— so comparing November with July would measure the calendar, not policy. ⭐ And THE MISSING HALF, because without it the figure reads backwards: falling real revenue can be a tax cut or a shrinking economy, and the number alone cannot tell the two apart. Here the other series tell them apart: exports rose 32.0% —USD 76,378 M in the first twelve months of the series (Nov-2023 to Oct-2024) against USD 100,845 M in the last twelve (Oct-2025 to Sep-2026), current dollars— and activity (EMAE) averaged +1.8% year on year in the twelve months to August 2026, with 8 of 12 rising. So the State takes a SMALLER slice of a LARGER economy, which is exactly what the axis's promise says. ⚠️ The export comparison does NOT go against Nov-2023: the series starts there, so a twelve-month total to that date would have a single month. The first twelve full months are compared against the last twelve. estim · Nov 2023