Tax cuts cause record Fed tax collection

An article on the amount of taxes collected last month. It’s a record for income taxes. This is not what the left predicted.

“The United States treasury collected the highest level of personal income tax on record in July 2018, smashing estimates and taking-in more than $1.4 trillion just months after President Trump signed the sweeping tax overhaul into law.”

https://www.hannity.com/media-room/great-again-us-government-collects-record-tax-haul-in-july/amp/

Trump is Cool… and Brilliant…

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The majority was tariffs and miscellaneous income…

The actual tax cuts brought in less tax revenue…

And the tariffs means consumers paid higher prices…

So more fake news from the right…

highest level of personal income tax

They’re lying?

Although the federal government collected record individual income taxes in the first nine months of this fiscal year, overall federal tax collections were lower in the first nine months of this fiscal year than they were in any of the previous five fiscal years—including 2013, 2014, 2015, 2016 and 2017.

Personal income tax collection has been trending upward since the Obama administration.

But TOTAL tax revenue collection is down, and why?

Because the bulk of the tax cuts are NOT personal income taxes.

One thing I’ll say about our host…he k oqs his audience.

The new left… They just deny reality. So, cultural revolution of them…

Yes… as predicted for decades. Deficits are going up due to entitlements.

Yet the deficit is climbing and is projected to keep climbing. I thought cons cared about the deficit and debt? Whatever happened to balanced budget amendment??

GOP/trump PORKULUS spending.

Yes, we’ve warned you guys for decades about the next couple decades. Boomers retiring…

That’s not the main cause… and we all know it.

Entitlements are making tax revenues go down these past 9 months? Is that what you’re trying to say?

Tax revenues are up…

Such a trend breaker. I remember when you made threads about Obamas record years

Having trouble reading? While PERSONAL revenue collection is up, TOTAL federal tax revenue collection was LOWER this past nine months than in any similar nine month period in the LAST FIVE YEARS.

Please explain how “entitlements” are causing that.

You failed to notice tax receipts go up after Reps take back congress… And the left predicted less tax collection from the tax cuts, not more…

Lol uh huh. I guess that means Reps were responsible for all 4 years of Obama’s 2nd term debt too lol

LOLOLOL!!!

Complete revisionist history. You guys ignored that argument during Obama and pilloried him for the deficit. Now you gleefully add to it. Hypocrites.

Vaard, are they lying?

Conveniently ignoring the deficit and debt. Sad!

This just prove the left has no memory, and can’t remember the baby boomers are retiring.