Trend Continues (Sep Edition): Less Revenue From Tax Bill

Politics
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As I described in my previous threads, we once again are continuing to pull in less revenue due to the tax bill. In August, we collected $7 billion less than Aug 2017 and Aug 2018 deficit was a whopping $211 billion which brings us to a total of $895 billion with one month to go in FY2018. Here’s what the comparison looks like between FY2017 and FY2018.

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
August 219000

We are only $19 billion away from having a net negative YOY change in receipts. September is when the third quarterly corporate tax payments come in. Last September, we received $348 billion. That means we have to bring in at least $329 billion to just stay even with last year’s receipts. One thing to note - last September had 20 business days while this September has 19. Not looking good, but it’s no surprise to those of us who have been pointing out all along that tax cuts do not come close to paying for themselves (even with the bigliest, bested economy in the history of the US).

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Trump, and people like him, have much more money now though.

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Better than having HILLARY as POTUS gawwddd

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Sean Hannity and the Tea Party are gonna be pissed. They hate deficits.

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Its because taxes havent been lowered enough…or something…

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Gorsuch and sticking it to libbies is all I care about.

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Gorsuch!!! Troll libs!!!

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Remember the Trump tingle some posters here had back in April? The crickets are chirping pretty loudly right now.

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Funny how Hannity never mentions deficits these days. And as for the Tea Party - where the heck are they?

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The Tea Party existed solely because of the interests of RW media. They were never the grass roots thing RW media pretended they were. They were an invented story kept alive for the purposes of Fox, RW talkers and teh GOP.

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The tax cuts are not the main driver of the debt…and where ever you got that data, it’s not much of a year over year change…

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There are posters on this very board who screamed about the national debt for almost a decade. And they still post here. Still post here.

And they don’t say a word about the debt now. Those people cannot be embarrassed.

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“Wherever you got that data.”

Lol. Clueless as always.

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Yes, but one would assume with the greatest economy we’ve ever had and our amazing magic wand GDP growth, that revenue would have increased. And it hasn’t. How does one explain that? Also, think about what it would be like if the tax cuts had been in place for the entire fiscal year. Frightening.

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The GOP just needed to rebrand after Obama took office, after the financial collapse and the Iraq war debacle. The TEA party was just that, and it worked. Once they regained power, no need for the TEA party anymore.

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Only dems can cut the debt. Like Nixon to China.

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Probably because there’s no link… and why not subtract one from the other so we can see the “big” changes…

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Maybe because I’m not your mom holding your hand through this. Get your lazy ass to click on the links to my other threads that clearly show this is from the CBO’s monthly budget reviews. Copy the numbers into excel and run the deltas yourself.

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Yes…they are.

It’s the only thing that’s changed.

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Except the deficit and debt have been predicted to rise rapidly these next two decades for decades…