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Old 10-11-2016, 02:15 PM
 
Location: Nebraska
3,255 posts, read 1,634,283 times
Reputation: 2895

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Apologize, I should have put this in the Politics and Other Controversies section.

https://www.cbo.gov/sites/default/fi.../52086-MBR.pdf

The final numbers for last year are out and the despite the huge stock market bubble and massive amount of job growth the tax revenue only increased by 19 billion dollars last year.

Outlays meanwhile went up by 168 billion dollars.

Less then 25% of baby boomers are age of full-retirement for social security yet the expenditures were 905 billion for social security benefits, 595 billion dollars for medicare, 368 billion for medicaid.

Only about 4 years of the 1946-1964 is retirement age. The highest birthrate years of the 1946-1964 "baby boomers" were in the mid and late 1950s.

It seems amazing how revenue is stagnant despite the massive amount of job growth and the equity bubble.
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Old 10-11-2016, 02:56 PM
 
1,851 posts, read 1,478,697 times
Reputation: 1283
Quote:
Originally Posted by lovecrowds View Post
Apologize, I should have put this in the Politics and Other Controversies section.

https://www.cbo.gov/sites/default/fi.../52086-MBR.pdf

The final numbers for last year are out and the despite the huge stock market bubble and massive amount of job growth the tax revenue only increased by 19 billion dollars last year.

Outlays meanwhile went up by 168 billion dollars.

Less then 25% of baby boomers are age of full-retirement for social security yet the expenditures were 905 billion for social security benefits, 595 billion dollars for medicare, 368 billion for medicaid.

Only about 4 years of the 1946-1964 is retirement age. The highest birthrate years of the 1946-1964 "baby boomers" were in the mid and late 1950s.

It seems amazing how revenue is stagnant despite the massive amount of job growth and the equity bubble.
Why is everyone hyper-focused on the Stock Market being overvalued? I feel this is said every time it hits a new high.

I don't have an answer for your post, but I'm interested in seeing what others have to say.

Last edited by IrishIllini; 10-11-2016 at 03:39 PM..
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Old 10-12-2016, 02:29 PM
 
5,116 posts, read 4,626,263 times
Reputation: 4375
Well, your aim was off with regards to the forum, but it's an interesting paper non-the-less. Maybe you could petition a moderator to move the thread for you?

What I find fascinating is that on Page 3 of the document, corporate income tax receipts took the biggest hit, down $44 billion dollars ($344 billion down to $300 billion) for a change of -12.9%. Now is that because corporations are making less profit this year compared to last, or is it because they've become better at sheltering their profits overseas?
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Old 10-13-2016, 05:09 AM
 
Location: Lafayette, La
2,037 posts, read 4,557,076 times
Reputation: 1422
There are a whole lot of oilfield workers out of work. The economy really isnt doing very well.
Those are well paying jobs and put lots into the economy and govt income and right now many of them arent.
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