According to @zantax, they’re busy electing representatives who don’t do anything for the Tea Party, or something.
Do you get that Trump has ballooned predicted budgets and reduced not just predicted revenues, but actually decreased revenue from the previous year which should only happen in times of recession? Only he’s done it in times of economic expansion. We’re going to have a trillion dollar deficit during times of good growth and take in less money than the year before. Completely unheard of.
That has nothing to do with decades of the predicted rise of the debt and deficits
The tax receipts have hardly changed… And congress makes the budgets.
Tax receipts are supposed to go up when we’re not in recession. And people like you keep telling me that the economy is booming right now so why are we taking in less in revenue?
Yes, the dems should run on a tax increase… I’m glad the people can keep more of their money.
the WJS argues with you…
" Tax Revenues Are Higher
“Individual receipts were up 7.9% in the first 10 months of fiscal 2018.”
“But what you probably haven’t heard is that the main reason is spending, not falling revenue from tax cuts.”
MOre…
"But revenues were higher as well—up $26 billion. Corporate income taxes were down substantially as expected in the wake of the tax reform that cut the corporate rate and added 100% expensing. But individual income taxes increased by $104 billion, or 7.9%, despite the cut in individual tax rates. How could that be? CBO says one reason is that withholding from paychecks increased by $32 billion, which “largely reflects increases in wages and salaries.” In other words, a faster-growing economy employed more people who made more money.
Individual tax receipts were down a bit in July but that was more than offset by record revenue in April, the biggest month for tax receipts. Meanwhile, don’t believe everything you read about tax reform and deficits. Higher spending is the real problem."
Trump is Cool
Since Obama is no longer President, the debt and deficits no longer matter.
100 percent expensing is cool…
Yeah, big spending government is cooooooooooooooooooooooooooooooooooooooooooooooooooooooooool. . . . …
This has been explained a bunch of times. Since the start of the tax cuts revenue is down. Because of the drastic cuts in corporate income taxes. The fact that revenue is technically still up is because of the time period under the old system. But we’re on pace to not increase tax revenue which is unheard of in a non recession year. And it’s happening during a “booming” economy. How do you explain that?
Expensing is what a business does after buying new equipment… It’s not govt spending.
Trump cut the corp tax rate to spur investment in America…Which is why manufacturing is at such a high level. Dems worry about the govt, Trump worries about the people.
There’s no parsing of words Trump supporters won’t engage in to deify his Holy Name. Trump is cool. Amen.
Who ever said this and implied that April receipts were higher due to the tax reform is an idiot. The April budget review explicitly says its for economic activity in CY2017 prior to tax reform.
Such a high level? There were a couple of Obama years that were the same or higher in terms of new manufacturing jobs…
Obama was decreasing the deficit. Trump is increasing it.
Doesn’t matter. Trump is cool.
