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L.A.
New Orleans Saints Fan
Los Angeles
Member since Aug 2003
47127 posts
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Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000

LINK


EZE Tiger Fan
Member since Jul 2004
33755 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Uh oh


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30
Wtodd
Missouri Fan
Tampa, FL
Member since Oct 2013
31481 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

a surplus

American taxpayers - yeah the debt goes down a little

Elected asswipes - yeah more money to spend


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71
Erin Go Bragh
Notre Dame Fan
Beyond the Pale
Member since Dec 2007
9473 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
But some of the most respected economics minds on the left said this was impossible.

Are we suppose to believe in the impossible now?


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70
cahoots
LSU Fan
Red Stick
Member since Jan 2009
5161 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
The tax changes haven't gone into effect on most paychecks.....


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15
buckeye_vol
Ohio State Fan
Member since Jul 2014
28149 posts
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re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Like I said in the other thread, we had a larger surplus of $51 billion last year.


aggressor
Texas A&M Fan
Austin, TX
Member since Sep 2011
4748 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Quarter end months always have the highest tax revenues and tend to run surpluses while the deficits come in months that don't have those boosted revenue totals. It's good news but it's a bit misleading to think these are true "surpluses" because the government cycles in terms of revenue while spending is fairly constant.


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20
BlackHelicopterPilot
LSU Fan
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Member since Feb 2004
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re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Record REVENUES!!!




buckeye_vol
Ohio State Fan
Member since Jul 2014
28149 posts
 Online 

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

Record REVENUES!!!
And like last year, we’ll have another slew of threads about April’s revenue and surplus, as if there aren’t certain important tax deadlines that happen each and every year that cause certain months to have “records.”


BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
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re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
JEEBUS!!!


I’m not talking about the ‘surplus’. But, a RECORD revenue is a RECORD, no?


I’m not even crowing about it. It is just that the lead is being buried.


“We had a record rainfall “


bullshite, it RAINS fairly often!


Ugh


cahoots
LSU Fan
Red Stick
Member since Jan 2009
5161 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

And like last year, we’ll have another slew of threads about April’s revenue and surplus, as if there aren’t certain important tax deadlines that happen each and every year that cause certain months to have “records.”


It's funny because I always hear jokes about "liberal math" and then we have threads like this that demonstrate that most people on this forum have no idea how tax collections and budgets work. Not to mention that the tax changes aren't mandatory on paychecks until next month

Ignorance


buckeye_vol
Ohio State Fan
Member since Jul 2014
28149 posts
 Online 

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

I’m not talking about the ‘surplus’. But, a RECORD revenue is a RECORD, no?
Well it’s not a record, unless they mean a record for January, which is what I think this what they are trying to say with this statement:
quote:

while collecting record total tax revenues for that month of the year
This post was edited on 2/13 at 11:28 am


junkfunky
LSU Fan
Member since Jan 2011
22609 posts
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re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

Well it’s not a record, unless they mean a record for January.


What in the title or quote from the OP makes you think they don't mean January?


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BaylorTiger
LSU Fan
Member since Nov 2006
1986 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

The tax changes haven't gone into effect on most paychecks.....


Do you have a link for that? It's not the trend I've seen in the industry but that's very anecdotal and I haven't seen any aggregate data.


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BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
43211 posts
 Online 

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Soooooo. No withholding on all of those BONUSES?



Ignorance, indeed.


Razor Dawg
Georgia Fan
Decatur
Member since Dec 2017
707 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

Well it’s not a record, unless they mean a record for January


It's what the graph clearly states.Not sure that it can be interpreted any other way.


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20
Lsupimp
Colorado Fan
Acceptance.
Member since Nov 2003
51216 posts
 Online 

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Tax rates down, tax revenues up. Exactly as I said before receiving a hail of Democrat down votes.

Imagine their shock when they realize that when you incentive economic activity you get more of it . Not that a single Dem will learn the lesson.

Remember - their hero - Dreamy McMompants once said on camera that even if tax revenues increased he would oppose tax rates cuts on principle. When you are a Fundamentalist Progressive, you have to stick to the fundamentals.


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30
GoldenGuy
Member since Oct 2015
1271 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

Feds Collect Record Taxes


In a growing economy, this should nearly always be the case. More things get done by people, more money made, more collected

quote:

Run Surplus


This should be the lead.


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cahoots
LSU Fan
Red Stick
Member since Jan 2009
5161 posts

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
quote:

Soooooo. No withholding on all of those BONUSES?

Ignorance, indeed.


The collections in January are not uniquely reflective of December employment taxes. Different taxes are collected under different schedules. Short term surpluses aren't an accurate barometer of prior month collections. So yes, ignorance. This isn't partisan stuff. It's a basic understanding of tax collections.


upgrayedd
Lamar Fan
White-manning in metro BR
Member since Mar 2013
71273 posts
 Online 

re: Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
I assume the Dems will now declare that taxation is bad


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