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Income Tax Revenues Are Up 9% This Year — Is Trump Tax Cut Paying For Itself?
Posted on 7/11/18 at 7:01 pm
Posted on 7/11/18 at 7:01 pm
yes they are, just like we said they would
nothing to see here folks, move along
apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE
Income Tax Revenues Are Up 9% This Year — Is Trump Tax Cut Paying For Itself?
nothing to see here folks, move along
apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE
Income Tax Revenues Are Up 9% This Year — Is Trump Tax Cut Paying For Itself?
quote:
Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.
The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.
The CBO says the gain "largely reflects increases in wages and salaries."
For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.
The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.
Posted on 7/11/18 at 7:02 pm to dcbl
quote:Nah. As you probably know the leftist optimum tax revenue is...MOAR!!!
Paying For Itself?
Posted on 7/11/18 at 7:04 pm to dcbl
Paid for on the backs of dead Americans...
Posted on 7/11/18 at 7:11 pm to dcbl
Seems like if the tariff wars work out those numbers will get even better .
Posted on 7/11/18 at 7:13 pm to dcbl
It's shocking what you can learn in the first week of a macro economics class
Posted on 7/11/18 at 7:14 pm to 90proofprofessional
quote:
This won't age well.
It won't? I'm fascinated to hear why your think it won't.
Posted on 7/11/18 at 7:14 pm to 90proofprofessional
quote:
90proof
You just can’t help yourself
Posted on 7/11/18 at 7:18 pm to 90proofprofessional
quote:
90proofprofessional
RESIST!!!!
Why?
Idk...just RESIST!!!!!!
fricking retards
Posted on 7/11/18 at 7:23 pm to Centinel
quote:
It won't? I'm fascinated to hear why your think it won't.
I've stated it many, many times. Even the most optimistic dynamic models incorporating the biggest plausible growth effects yielded big deficits even in year one. Revenues will keep climbing as long as the economy doesn't enter recession, but they'll be lower than they otherwise would have been.
Posted on 7/11/18 at 7:24 pm to 90proofprofessional
quote:I'm fine with that
evenues will keep climbing as long as the economy doesn't enter recession, but they'll be lower than they otherwise would have been.
Posted on 7/11/18 at 7:26 pm to 90proofprofessional
quote:
Revenues will keep climbing as long as the economy doesn't enter recession, but they'll be lower than they otherwise would have been.
So you're saying more citizens keep their money?
It's almost like you don't understand we don't have a revenue problem, we have a spending problem.
Posted on 7/11/18 at 7:28 pm to 90proofprofessional
quote:
Revenues will keep climbing as long as the economy doesn't enter recession, but they'll be lower than they otherwise would have been.
I'm not sure what the Laffler sweet spot is, but I'm paying less in taxes, so I don't give much of a shite.
ETA: Maximizing federal revenues isn't really my dig.
This post was edited on 7/11/18 at 7:29 pm
Posted on 7/11/18 at 7:29 pm to GeauxxxTigers23
quote:
I'm fine with that
certainly many people have no problem with deficit-financed goodies when their team is in charge
spending is still growing quickly
Posted on 7/11/18 at 7:29 pm to 90proofprofessional
Stop being so damn biased. Do you even take into consideration the high paying manufacturing jobs returning to the US? Many of which haven’t even happened yet due to the logistics of making that move?
But hey, you got to use your issued talking point. Once again, thanks for playing
But hey, you got to use your issued talking point. Once again, thanks for playing
Posted on 7/11/18 at 7:29 pm to Centinel
quote:
It's almost like you don't understand we don't have a revenue problem, we have a spending problem.
We have both.
Posted on 7/11/18 at 7:30 pm to 90proofprofessional
quote:
spending is still growing quickly
And that is the problem. You know as well as I do that discretionary spending could be zero and we would still have long-term problems with debt and deficits.
quote:
We have both.
How is there a revenue problem?
This post was edited on 7/11/18 at 7:39 pm
Posted on 7/11/18 at 7:30 pm to 90proofprofessional
quote:
We have both.
Nope. We have a spending problem. And spending alone. As evidenced by the record revenue numbers each time they're reported.
Posted on 7/11/18 at 7:31 pm to HempHead
quote:
You know as well as I do that non-discretionary spending could be zero and we would still have long-term problems with debt and deficits.
Good luck getting a proggy to admit this.
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