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You can see the slow down in growth of receipts (compared to previous years), and this is despite of massive tax hikes in imports / consumer goods. This is bad, since the spending under Trump has only accelerated.
You can see the slow down in growth of receipts (compared to previous years), and this is despite of massive tax hikes in imports / consumer goods. This is bad, since the spending under Trump has only accelerated.
Well, you also conveniently chose a time frame where the growth of receipts would mirror the end of the recession and accelerate natural growth.
We could argue about what the correct amount to collect is all day. That doesn't change the fact that only 6% paid more despite non-stop stories to the contrary and personal income tax revenue did climb by $100,000,000,000.00.
Well, you also conveniently chose a time frame where the growth of receipts would mirror the end of the recession and accelerate natural growth.
Its the last 8 years. Something wrong with that?
Receipts always go up unless there is a recession or depression, so for you to celebrate a smaller than usual growth is a bit weird. The growth in receipts slowed down, and that is a cause for concern, not for celebration, especially when the spending is up more than usual.
This kind of economic policy is nothing short of reckless, and its fairly hypocritical of the GOP to embrace this kind of policy after condemning when they are not in control of taxes and the purse.
"People near the bottom" pay very little in income tax in the first place-it's hard to cut from nothing. In fact, for many, with tax credits-tax day, when many write huge checks to the government-for them it's a form of welfare-with a refund greater than what they paid.
Individual revenue only tells half the story as corporate revenue dropped. Tax revenue would have increased considerably more without the tax breaks. So we added over a trillion to the deficit for a small bump in revenue. The economy was on the upswing in any event, this was unnecessary. Tax revenue always increases each year so why is that a selling point.
Individual revenue only tells half the story as corporate revenue dropped. Tax revenue would have increased considerably more without the tax breaks. So we added over a trillion to the deficit for a small bump in revenue. The economy was on the upswing in any event, this was unnecessary. Tax revenue always increases each year so why is that a selling point.
I paid about $2,000 more than I would have before the "tax cut" because of the $10,000 SALT deduction cap. And that's even after moving out of high tax state Illinois a few years ago.
So if 6% paid more, what percent paid the same, and what per cent paid less...
The stories aren't saying more people paid more -- the stories are saying the big tax cuts weren't really big tax cuts for most individuals.
Saying the story was about folks paying more is changing the narrative. Is that to deflect that most people did not see a big tax cut.
I paid way more.
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And that's even after moving out of high tax state Illinois a few years ago.
