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When you don't do both then it does add to the deficit.
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The conservative party is full of condescension while sounding like idiots.
I don't understand how anyone can make the claim that the tax cut didn't add to the deficit, the fact remains that if they didn't do the tax cut the deficit would have decreased.
Thank you for highlighting a point of importance that I think just about all Americans care something about. Unfortunately, I don't think enough Americans can objectively look at all the numbers that matter and make good sense of them, especially when clouded with partisan bias that your opening comment seems to suggest is your challenge as well.
Revenues are up. Yes. To what extent this is due to Trump's tax cuts or an economy already in upward mode is a matter of debate (also generally undermined by partisan bias), but revenues are up. This is fact. The why is very important too, but let's not bother with that for now.
What of the debt, deficit spending? How much does it matter? How much have increased revenues offset the deficit as Trump believed would happen? This does matter. Remember how conservatives were up in arms about the deficit when Obama was in office? Of course it matters, but here's the thing...
Much like a company that hits on hard times, goes into the red, so too was our economy as Obama took over. Bush decided to save the economy with heavy government spending. Obama followed suit, as pretty well all economists insisted was needed. Just like a company in the red might decide to spend/borrow to put more money into sales & marketing to get revenues back upward. Debt goes up, but -- eventually -- so do sales!
Great, but now what about the increased level of debt? Any company would begin to reduce the debt while sales are doing well again, to get the books into better balance and provide for a better day into the future. Instead of doing this now that our economy is also doing better, Trump and the GOP/Congress continue to spend like there is no tomorrow.
Our kids are beginning to wonder about tomorrow with great concern, and with good reason.
I don't care who you are, Trump supporter or not, if you are not willing to look at all aspects of a P&L AS WELL AS balance sheet, you are being stupid or irresponsible or both. Trump, the GOP/Congress had/have an opportunity to do the RIGHT thing instead of the typical political thing. If we can't get our house in order when the economy is doing well, with a healthy world economy to help us along, WE NEVER WILL!
That is the problem with these threads, they cherry pick one stat to make their case. The title should indicate Individual tax revenue not revenue in general. Cherry picking the stat they like as you stated while ignoring corporate tax revenue The most important indicator is the deficit and its increasing because of spending and the tax cuts. If the tax cuts were not instituted the deficit would have declined.
It has been less than a year.
Democrats are piling on while they think they can. Long term, it'll work out. But you already know that.
Dubbing it the "nickel plan," President Donald Trump announced Wednesday that he's asking every Cabinet secretary to cut their next-year's budgets by 5 percent.............
Ya know, it s not hard to publish want adds on indeed.com and other job sites AS IF there is employment openings not being filled.
Where is the data coming from claiming there are more jobs then job seekers?
I m afraid its more GOP fake news , facebook-style.
Trump used to get around the employment laws by placing an add on the bottom of the back page of a throw away paper for employment needed at Miralago....just long enough to comply...then pull the add and hire cheap foreign labor claimi.g no Americans want to work there.
Must look at all data coming out of todays GOP with skepticsm. Always ask..who does this benefit? The American people, or Trump and Company pocketbooks.
I was willing to keep an open mind until the article above compared Trump's first fiscal year to Obama's first fiscal year. Does anyone remember how bad the economy was on the heels of the Bush debacle in 2009. I won't be buying Investor's Business Daily any time soon. Faulty analysis and comparison. The video that is in the article also flashed the name George Mason University. The faculty at George Mason University has been compromised since they started taking money from the Koch brothers.
Republicans and their publications continue to underestimate our ability to sniff out phony news.
Ya know, it s not hard to publish want adds on indeed.com and other job sites AS IF there is employment openings not being filled.
Where is the data coming from claiming there are more jobs then job seekers?
I m afraid its more GOP fake news , facebook-style.
Trump used to get around the employment laws by placing an add on the bottom of the back page of a throw away paper for employment needed at Miralago....just long enough to comply...then pull the add and hire cheap foreign labor claimi.g no Americans want to work there.
Must look at all data coming out of todays GOP with skepticsm. Always ask..who does this benefit? The American people, or Trump and Company pocketbooks.
Smoke and mirrors...
Just like this whole illegal immigrant punching bag to begin with. Making a big deal about all these jobs being taken by immigrants (legal or illegal) that are very difficult to fill no matter the state of the economy. Trump says we'll all have more/better jobs if we build a wall, and Trump supporters believe him even though not a one wants these jobs! It isn't really about jobs. It's about immigrants, plain and simple.
For how many years have we seen the PERMANENT "Now Hiring" signs in most fast food windows, at hotels, motels, restaurants? Get rid of the immigrants and who knows what happens, but I am really having trouble imagining an America where it's mostly white people picking fruit and vegetables, cleaning the motel rooms, washing the dishes. Even if these jobs DID become higher paying jobs, most people don't want to work them.
I know, because I used to own and operate an employment agency that placed thousands of workers in minimum wage jobs. What percent of applications were filled out by people who were NOT POC? Even the better paying jobs? We all know the answer...
I was willing to keep an open mind until the article above compared Trump's first fiscal year to Obama's first fiscal year. Does anyone remember how bad the economy was on the heels of the Bush debacle in 2009. I won't be buying Investor's Business Daily any time soon. Faulty analysis and comparison. The video that is in the article also flashed the name George Mason University. The faculty at George Mason University has been compromised since they started taking money from the Koch brothers.
Republicans and their publications continue to underestimate our ability to sniff out phony news.
Seems to me there is no concern about people who can "sniff out phony news." The idea is to keep the focus of those who can't.
Case in point, I check Fox News every morning along with a good number of other news sights generally not so right leaning. The difference is truly amazing to see, beginning with which news stories are featured, what pictures are posted, before you even get to reading the content. I have had more than a few conservatives tell me they can't watch anything but Fox News, because the other news sites are too liberal. I mean talk about confirmation bias, and they don't even seem to know it.
Something like a religious person who won't listen to anyone outside of their church, because they might here something contrary, like maybe something about evolution. Be afraid, be very afraid...
Thread Title: "Trump Tax Cuts bring Record Federal Tax Revenue"
There were record federal tax revenues in the years 2013, 2014, 2015, 2016, and 2017.
It is a manipulation to say "Trumps tax cuts brought in record federal tax revenues" because there were record federal tax revenues in the years 2013-2017 (tax revenues typically increase every year.)
"Revenues are expected to decline as a percentage of gross domestic product (GDP)—from 17.3 percent in 2017 to 16.6 percent in 2018—below the average of 17.4 percent of GDP recorded over the past 50 years."
"The decline in revenues as a percentage of GDP in 2018, and to a lesser extent in 2019, results from the enactment in late December 2017 of Public Law 115-97, referred to here as the 2017 tax act."
Well you are right about these things taking time before final judgement, next year we will know for sure, but then there is a Trump supporter starting a thread claiming increased individual revenue is a victory while ignoring the increased debt. Reagan immediately adjusted for his mistake with one of the largest tax increases in history, I can easily see the republicans blaming democrats for a tax increase next year.
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