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Started By
Message
Income tax revenues UP 9%.....lol melt anti tax cut freaks
Posted on 9/17/18 at 8:52 am
Posted on 9/17/18 at 8:52 am
quote:LINK
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.
6
Posted on 9/17/18 at 8:53 am to CptBengal
Millions dead from tax cuts
Posted on 9/17/18 at 8:56 am to CptBengal
Posted on 9/17/18 at 8:57 am to 90proofprofessional
It's ok. You'll be alright.
Posted on 9/17/18 at 9:04 am to CptBengal
Trump is going to balance the budget with tax cuts and tariffs, and you won’t be able to hear yourself think with leftist autistic screeching
This post was edited on 9/17/18 at 9:05 am
Posted on 9/17/18 at 9:10 am to Trump_Gump
what are we spending an extra 119 billion on and that doesn't include a wall?
Posted on 9/17/18 at 9:10 am to 90proofprofessional
I love how this article infers something without doing a deep dive of the numbers.
I thought the tax reform was good, but we are far from being able to definitively say tax reform is paying for itself.
I thought the tax reform was good, but we are far from being able to definitively say tax reform is paying for itself.
Posted on 9/17/18 at 9:14 am to CptBengal
1. Revenues were up largely due to collections of pre tax law change collections.
2. Spending is growing much faster than revenues.
3. no one has attempted to do anything to curb federal spending.
Monthly budget review august 2018
2. Spending is growing much faster than revenues.
3. no one has attempted to do anything to curb federal spending.
quote:
The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, CBO estimates, $222 billion more than the shortfall recorded during the same period last year.
Monthly budget review august 2018
Posted on 9/17/18 at 9:17 am to Jorts R Us
just realized op's article is over 2 months old
with 2 more months at the new rates, it's already down to +7% y/y, before inflation and with several months at the old rate/base
with 2 more months at the new rates, it's already down to +7% y/y, before inflation and with several months at the old rate/base
Posted on 9/17/18 at 9:30 am to 90proofprofessional
Just realized you haven’t posted a single source outside of links to your own opinion
This post was edited on 9/17/18 at 9:31 am
Posted on 9/17/18 at 9:40 am to Trump_Gump
quote:
Just realized you haven’t posted a single source outside of links to your own opinion
Pointing out that pre-reform collections are a factor in FY18 numbers should be common knowledge but you can start here.
Posted on 9/17/18 at 9:43 am to 90proofprofessional
quote:
just realized op's article is over 2 months old
with 2 more months at the new rates, it's already down to +7% y/y, before inflation and with several months at the old rate/base
If it ends up being 0%, you would agree that the cut was good, right?
Posted on 9/17/18 at 9:44 am to CptBengal
(no message)
This post was edited on 5/27/23 at 3:01 am
Posted on 9/17/18 at 9:47 am to moneyg
quote:
If it ends up being 0%
pre-inflation? and with spending accelerating?
no, blowing up deficits on the upside of the business cycle is not good
Posted on 9/17/18 at 9:48 am to Trump_Gump
quote:
Just realized you haven’t posted a single source outside of links to your own opinion
all figures cited by me straight from the posted monthly numbers on Treasury's Fiscal Service page
now you can do your own diligent analysis
Posted on 9/17/18 at 10:35 am to 90proofprofessional
quote:
all figures cited by me straight from the posted monthly numbers on Treasury's Fiscal Service page
deep state cover up to stop MAGA train.
Posted on 9/17/18 at 10:36 am to moneyg
Tax cut is good regardless of the effect on revenue collections. What is bad is that nothing is being done to address run away spending.
Posted on 9/17/18 at 10:37 am to CptBengal
It's good barry started us on the way to balancing the budget. 
Posted on 9/17/18 at 10:56 am to 90proofprofessional
quote:
pre-inflation? and with spending accelerating?
let's say post-inflation.
Spending doesn't justify more taxes. I think most agree we spend too much, and were already spending too much prior to the tax cut.
If tax revenue is flat with a tax cut, it is a home run. If revenue is up, it's so far past a home run, it's crazy to discuss.
Posted on 9/17/18 at 11:04 am to moneyg
quote:
let's say post-inflation.
overall revenues are down post-inflation. corp tax collections are down like 40%
quote:
Spending doesn't justify more taxes
govt spending is literally the reason we have taxes
quote:
I think most agree we spend too much, and were already spending too much prior to the tax cut.
so knowing this, we cut revenues anyway. then increased spending some more. we need to be reducing deficits when the economy is above trend
quote:
If tax revenue is flat with a tax cut, it is a home run. If revenue is up, it's so far past a home run, it's crazy to discuss.
taxes grow with a growing population & economy, as does spending
because of that, what you said isn't true in the way you say it. i'd say that if tax revenue is flat *relative to what it'd have been without the tax cut*, it is a home run
This post was edited on 9/17/18 at 11:05 am
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