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Started By
Message
Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
Posted on 2/13/18 at 11:04 am
Posted on 2/13/18 at 11:04 am
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
11
Posted on 2/13/18 at 11:06 am to L.A.
quote:
a surplus
American taxpayers - yeah the debt goes down a little
Elected asswipes - yeah more money to spend
Posted on 2/13/18 at 11:08 am to L.A.
But some of the most respected economics minds on the left said this was impossible.
Are we suppose to believe in the impossible now?
Are we suppose to believe in the impossible now?
Posted on 2/13/18 at 11:10 am to L.A.
The tax changes haven't gone into effect on most paychecks.....
Posted on 2/13/18 at 11:10 am to L.A.
Like I said in the other thread, we had a larger surplus of $51 billion last year.
Posted on 2/13/18 at 11:11 am to L.A.
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.
Posted on 2/13/18 at 11:11 am to buckeye_vol
Record REVENUES!!!
Posted on 2/13/18 at 11:16 am to BlackHelicopterPilot
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.”
Record REVENUES!!!
Posted on 2/13/18 at 11:19 am to buckeye_vol
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
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
Posted on 2/13/18 at 11:19 am to buckeye_vol
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
Posted on 2/13/18 at 11:24 am to BlackHelicopterPilot
quote: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:
I’m not talking about the ‘surplus’. But, a RECORD revenue is a RECORD, no?
quote:
while collecting record total tax revenues for that month of the year
This post was edited on 2/13/18 at 11:28 am
Posted on 2/13/18 at 11:26 am to buckeye_vol
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?
Posted on 2/13/18 at 11:27 am to cahoots
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.
Posted on 2/13/18 at 11:28 am to cahoots
Soooooo. No withholding on all of those BONUSES?
Ignorance, indeed.
Ignorance, indeed.
Posted on 2/13/18 at 11:32 am to buckeye_vol
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.
Posted on 2/13/18 at 11:34 am to L.A.
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.
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.
Posted on 2/13/18 at 11:39 am to L.A.
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.
Posted on 2/13/18 at 11:40 am to BlackHelicopterPilot
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.
Posted on 2/13/18 at 11:41 am to L.A.
I assume the Dems will now declare that taxation is bad
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