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Started By
Message
Tax revenues hit all time high for FY 2014
Posted on 8/15/14 at 11:28 am
Posted on 8/15/14 at 11:28 am
I thought that when rates go up revenues went down and vice versa? Isn't that the narrative here? Why didn't it happen?
LINK
I'll be curious to see how this is spun as a bad thing.
LINK
quote:
Inflation-adjusted federal tax revenues hit a record $2,469,178,000,000 for the first 10 months of the fiscal year this July, but the federal government still ran a $460,450,000,000 deficit during that time, according to the Monthly Treasury Statement.
I'll be curious to see how this is spun as a bad thing.
21
Posted on 8/15/14 at 11:39 am to Powerman
quote:
I thought that when rates go up revenues went down and vice versa? Isn't that the narrative here? Why didn't it happen?
Only when the burden of taxation outweighs the benefits of employment. The folks who think that the difference between 35% and 39% is catastrophic have apparently never read a history book. I would like to note that the capital gains rate remained unchanged.
Posted on 8/15/14 at 11:45 am to Powerman
And we wonder why the economy is SHYT !!!
Goverment giving money to lazy bastards who blow it on B.S.
Same money if kept in the hands of TAXED TO DEATH men would be used for JOB CREATION.
YEAAAA WE ARE SCREWING OURSELVES.
Goverment giving money to lazy bastards who blow it on B.S.
Same money if kept in the hands of TAXED TO DEATH men would be used for JOB CREATION.
YEAAAA WE ARE SCREWING OURSELVES.
Posted on 8/15/14 at 11:56 am to Powerman
Well it's settled then. We don't ned to cut spending, just raise taxes even more.
Hey, if we tax 100% of all income, maybe the govenment's revenue will go even higher. Progress.
Isn't that right Powerman.
After all, it's the goverments money, citezens should have no right to any of it...unless the omnipotent government says it's OK.
Hey, if we tax 100% of all income, maybe the govenment's revenue will go even higher. Progress.
Isn't that right Powerman.
After all, it's the goverments money, citezens should have no right to any of it...unless the omnipotent government says it's OK.
Posted on 8/15/14 at 12:03 pm to Powerman
quote:
I'll be curious to see how this is spun as a bad thing.
A 460 Billion dollar deficit is a bad thing.
Posted on 8/15/14 at 12:06 pm to Powerman
If tax revenues are increasing why isn't the deficit shrinking? 
Posted on 8/15/14 at 12:08 pm to Powerman
I thought rich people didn't pay their fair share.
Posted on 8/15/14 at 12:10 pm to Powerman
quote:
I thought that when rates go up revenues went down and vice versa?
When did the rates go up?
Posted on 8/15/14 at 12:15 pm to Powerman
quote:
I thought that when rates go up revenues went down and vice versa?
When rates go up, revenues can go up - to a point - but that revenue increase slows as you continue to raise rates. You will eventually get to a point of no return, and then decline.
Posted on 8/15/14 at 12:40 pm to Powerman
quote:what rates have gone up?
I thought that when rates go up revenues went down and vice versa?
If anything this data show Romney was right. A healthy(er) economy is the best way to raise revenues.
quote:More money taken out if the hands of citizens and malinvested by the government is never a good thing
I'll be curious to see how this is spun as a bad thing.
This post was edited on 8/15/14 at 12:42 pm
Posted on 8/15/14 at 12:42 pm to Powerman
quote:
I'll be curious to see how this is spun as a bad thing.
Record-high theft!
Posted on 8/15/14 at 12:44 pm to Powerman
quote:
I'll be curious to see how this is spun as a bad thing.
I'm curious to see why you think you should have to give up more of YOUR money because the government can spend it better than you...
Posted on 8/15/14 at 12:48 pm to inelishaitrust
quote:
difference between 35% and 39%
It baffles my mind that we have reached a level like this in the first place.
Especially since this nation was at 0% for longer than we have had an income tax
Posted on 8/15/14 at 12:50 pm to Taxing Authority
quote:Yeah, because Romney was the only guy to predict that a healthy economy is good.
If anything this data show Romney was right. A healthy(er) economy is the best way to raise revenues.
Posted on 8/15/14 at 12:52 pm to Mr.Perfect
quote:Well, minimum wage was 0.00 for much of that time.
Especially since this nation was at 0% for longer than we have had an income tax
quote:Ummmm, we have been at these levels and above for a very long time.
It baffles my mind that we have reached a level like this in the first place.
Posted on 8/15/14 at 12:54 pm to TK421
quote:
When did the rates go up?
When the cap gains tax was set to increase, thinking the beginning of 2013. Remember when no tax deal was done until after Jan. 1, and everyone was selling assets to use the 15% tax rate instead of what was being propose (and now is law)? Now if you earn more than $250k of ordinary income, you pay 20% cap gains tax PLUS 3.8% net investment income tax. 23.8%! PLUS the ordinary income tax bracket went back to the draconian Clintonian era with a 39.6% high, from what was a high of 35%.
A lot of assets were sold prior to 12/31/12, and tax revenues were the highest in recorded history. Scare the masses, and they respond.
I've always wanted to use the term, draconian.
Posted on 8/15/14 at 1:03 pm to Powerman
quote:
I'll be curious to see how this is spun as a bad thing
quote:
but the federal government still ran a $460,450,000,000 deficit during that time
This is a start
Posted on 8/15/14 at 1:06 pm to JOJO Hammer
quote:
but the federal government still ran a $460,450,000,000 deficit during that time
Aren't we on track to be $20,000,000,000,000.00+ in DEBT by the time Obama leaves office?
Posted on 8/15/14 at 1:07 pm to mmcgrath
quote:
Well, minimum wage was 0.00 for much of that time
There were people working for free?
Posted on 8/15/14 at 1:10 pm to doubleb
quote:
A 460 Billion dollar deficit is a bad thing.
Not when you compare it to a 600 billion dollar deficit
There was never any expectation that we would be running a massive surplus or even have a balanced budget this year. So yes it's bad in comparison to retarded unrealistic expectations that exist in fantasy world. But it's good compared to where we have been the last few years. That can not be disputed by anyone who knows anything about anything.
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