Trump Tax Cuts bring Record Federal Tax Revenue (wages, how much, companies)
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According to Treasury data, tax revenue from corporate returns dropped 31% in fiscal 2018 compared with fiscal 2017. Meanwhile, individual tax revenue was up 6.1%, and total revenue increased by just 0.4% from fiscal 2017.
An analysis by the Committee for a Responsible Federal Budget found that the revenue increase was historically low.
"This revenue growth rate is the eighth lowest in the past 50 years, and the seven lower years either coincided with a recession or tax cuts/expiring tax increases enacted shortly after a recession," the report said. "As we have noted, though, even this slight revenue growth understates how much the 2017 tax law is reducing revenue since the fiscal year totals include revenue raised from the pre-tax law code."
The money corporations used to pay in taxes will be used for business expansion, hiring more people and raising wages, thus increasing tax revenue (both corporate and personal income).
The money corporations used to pay in taxes will be used for business expansion and hiring more people, thus increasing revenue and tax revenue (both corporate and personal income).
Or, maybe they will just park the money in a bank, use it to repurchase stock, or something else.
Or, maybe they will just park the money in a bank, use it to repurchase stock, or something else.
Money in the bank is used to finance start up companies and to loan to businesses for expansion. Repurchasing stock gives investors money to make investments elsewhere.
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