Were they calendar years? No? Well, they don’t count, lib. So sorry, Trump is cool.
Again- we have the data- this is really simple.
Total tax revenues (TOTAL- before you try and pull your "record individual tax receipts BS again) have dropped pretty much exactly at the rate the deficit has increased.
Therefore, lost revenues from the tax cuts ARE the main drivers of this current deficit spike.
It really is that simple, Cratic.
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I’m confused. Tax revenue was $3.27 trillion in 2016 and $3.32 trillion in 2017. The estimate for 2018 is $3.34 trillion. What is the problem? Despite tax cuts we continue to see increased revenue.
No one disputes we have a spending problem, but DEMs share a lot of the blame for that.
Your window is the problem.
FY 2018 started October 2017. Through April of 2018, revenues reflected mostly old tax rates. That leaves about 5 months of revenue collection that would be affected by the new tax law. Since April, every month has been below that of the previous year.
Now, everyone would expect skyrocketing tax revenues in a skyrocketing economy resulting in lower deficits. That’s not going to happen this time for obvious reasons.
Absent the tax cut, our deficit would be shrinking rapidly.
Indeed, and come a bad recession, we’re going to have a lot less flexibility with monetary policy. Wouldn’t be surprised with close to $2T deficits if a recession is bad enough…
There is gonna be a giant middle finger for those type of folks when the parties switch. And then I’m going to ignore them.
How many articles do you want to see about the tea party contingent in the house blocking spending?
There is just no way you can expect immediate gains from a large tax cut, look for them in the medium to longer term.
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Expensing is a tax thing not parsing…
We’ve told the left for decades deficit would be increasing now and for many years to come. We all know why.
That’s cheating.
I can do a rain dance tonight. It might not rain this evening but it will eventually and at that time I’ll be there to tell you “see it works”.
But we both know that’s idiotic.
Higher spending is the real problem as predicted for decades…
they’re just like him in many cases.
but they’ll deny it.
just like him.
Because Republicans love to spend when we don’t need to.
tax cuts arent done to make the government richer
Right. They’re to make the next generational poorer.
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which is the opposite of what really happens.
not letting the government take as much money makes the left and democrats mad
How many times do you have to be told the gains needed to “pay back” the tax cuts never ever happen.
At best, new growth pays for about 1/3 of the cuts.
In this thread about this topic this guy posts that.
Remember. He votes.
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