As I described in my last thread, we are continuing to pull in less revenue due to the tax bill. With the exception of April, which had an increased amount of revenue due to CY2017 receipts, every single month since the tax bill has gone into effect has resulted in less revenue than the same month in 2017. Combined with real wage growth being 0 for May and June [1], I think we can confidently put the nail in the coffin of supply side economics and the ridiculous assertion that tax cuts pay for themselves.
FY 2017
.
October
221692
November
199875
December
319204
January
344069
February
171713
March
216584
April
455605
May
240418
June
338660
July
232040
August
226311
September
348722
Year-to-Date
3,314,894
FY 2018
.
October
235341
November
208374
December
325797
January
361038
February
155623
March
210832
April
510447
May
217075
June
314000
July
225000
We are not only $23 billion above the same point in FY2017. With two more months to go in FY2018, we could very well hit a net negative YOY gain which I don’t think has ever happened in a non-recession year. Amazing.
Nope, still too early to make that call, no reasonable supply sider would say you should expect a short term gain in revenue, it’s a long term proposition. It hasn’t even really taken effect yet. I haven’t filed taxes under the reduced rates yet.
Just long enough so that conservative voters forget that cutting taxes for rich people does jack **** for them and fall for it all over again a few years from now.
Yes, let’s thank Obama for a piece of legislation that was passed solely by the GOP a year after he left office which results in a net negative YOY growth during an expansion period. Go troll somewhere else.
There’s a huge tax cut and the revenue generated is less than 1% a part. The full benefit hasn’t even come close to being realized yet. This is fantastic news. I can’t wait to see next year when increased business investments kick in from the tax cut.
In this case, the number being discussed is directly related to a piece of Trump legislation. I mean, we get it-you’re trolling, but it shouldn’t need to be explained.
Look at the total revenue up to July in both years and total it. The two years are less than 1% a part. I’m sure that most business owners are cautious and will wait until the end of the year when the fiscal year is completed to do a financial analysis of what it meant to their bottom line after tax income and then decide how best to utilize it. That’s what I’m doing and I’m sure I’m far from being the only one?
