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Started By
Message
Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit
Posted on 9/14/18 at 9:04 am
Posted on 9/14/18 at 9:04 am
Interesting, the liberal media told me that we weren’t gonna collect more moneys with tax breaks
LINK
quote:
CNSNews.com) - The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.
LINK
15
Posted on 9/14/18 at 9:08 am to Trump_Gump
quote:
we weren’t gonna collect more moneys with tax breaks
Progressives: Tax breaks = less money. End of story.
Normal people: But what if the tax breaks mean people make more and businesses make more and so there are more overall taxes collected?
Progressives: TRUMPYBAD! TAXES GOOD! END STORY!
Posted on 9/14/18 at 9:10 am to Trump_Gump
Reagan was right "Washington doesn't have a revenue problem, they have a spending problem" and then proceeded not to do anything about it.
Posted on 9/14/18 at 9:10 am to Trump_Gump
Understanding economics isnt a strong point of the left
Posted on 9/14/18 at 9:14 am to Trump_Gump
4 or 5 months of this year are still based on the pre-TCJA rates and base
for the stuff we can see a pre & post-tax cut comparison- those being income tax withholdings and corporate tax- they're down even before you account for inflation
the best collections month this year for income taxes was April by far. and most of that is based on tax year 2017, prior to the law
it's really quite clear that to date, post-tax-cut revenues are lower than they would otherwise be
for the stuff we can see a pre & post-tax cut comparison- those being income tax withholdings and corporate tax- they're down even before you account for inflation
the best collections month this year for income taxes was April by far. and most of that is based on tax year 2017, prior to the law
it's really quite clear that to date, post-tax-cut revenues are lower than they would otherwise be
Posted on 9/14/18 at 9:14 am to Trump_Gump
The whole "collected before the tax cuts" narrative we saw early on has completely died.
ETA: Nevermind. 90proofprofessional is here to show us all what a fool he is.
ETA: Nevermind. 90proofprofessional is here to show us all what a fool he is.
This post was edited on 9/14/18 at 9:15 am
Posted on 9/14/18 at 9:22 am to Trump_Gump
Is this a thread bashing Trump for running up a trillion dollar deficit or praising him for cutting taxes?
Posted on 9/14/18 at 9:35 am to Trump_Gump
Congress is the problem.
Posted on 9/14/18 at 9:56 am to Trump_Gump
quote:Some types of tax receipts will increase. Others will decrease. We will not know the net result until after the end of the first full year.
Interesting, the liberal media told me that we weren’t gonna collect more moneys with tax breaks
It is silly for either “side” to be crowing at this point.
Posted on 9/14/18 at 10:15 am to Trump_Gump
The left is WRONG about EVERYTHING!! 
Posted on 9/14/18 at 10:59 am to Trump_Gump
quote:That's over 1.5 trillion dollars. Just, wow. And somehow we still spend more than that.
$1,521,589,000,000
And therein lies the problem. Because the democrats in the government want to tax us twice as much and still spend even more, which exacerbates the problem.
Until government money stops being funneled and laundered to politicians and lobbyists, and just flat being wasted on unnecessary means, there is no end in sight to overspending.
Posted on 9/14/18 at 11:00 am to Trump_Gump
If we can reign in spending, we'll be all right.
Posted on 9/14/18 at 11:49 am to Trump_Gump
Disappointing. I know Trump didnt campaign on being a deficit hawk but I wish this was more of a priority for his administration considering how worthlessly inept the GOP congress is
Posted on 9/14/18 at 12:22 pm to Trump_Gump
quote:Clearly not enough.
collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018
Your pal,
—Democrats.
Posted on 9/14/18 at 12:34 pm to Trump_Gump
quote:
The federal government collected a record $1,521,589,000,000 in individual income taxes
Color me skeptical, but I find it hard to believe they collected exactly $1,521,589,000,000.
I'd be okay with reporting "the federal government collected a record $1.52 trillion in individual income taxes. But reporting that many significant digits. C'mon, man!
Posted on 9/15/18 at 10:27 pm to Trump_Gump
Any time the citizen can keep money out of wasteful government hands the better off the country is.
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