As Growth Slows To 1.9%, The Economy Is Falling Short Of Trump's Target

Interesting post:

 

EXACTLY!!!!

Look at these horrible satanic International Bankers. Literally trying EVERYTHING AND ANYTHING to damage Trump's economy.

Negative interest rates for our competition? You kidding me?

The funny thing is, this and the Russia Hoax were a MASSIVE hail mary. Now that their last ditch effort missed, you can expect the American economy to go through the roof .... well, until their BS fiat system crashes.

These people are evil and we need Military Tribunals for the ones in the US and extraditions for the same from the ones not.

 

Trustworthy civilian courts with honest judges and prosecutors will do nicely. Trump/Barr/Durham will get to the very bottom of this.

 

Why?

Well, for partisan reasons, "known factors" are often swept under the carpet so to speak.

For your info, I've been an independent conservative since 2007, formerly Republican. I'm also a fiscal hawk, thus, Uncle Sam's drastic increase in transfer payments and consumption expenditures, pisses me off.

Also, due to numerous factors and conditions, Trump's economy has YET generated +3% annualized GDP growth rates/double digits revenues growth rates, and I know them all!

Last, past performance IS NOT indicative of future results, thus, we may have to settle for less.

 

I don't give two squats about you.

You just said my claim of "lower taxes equal higher tax revenue" is false.

By stating that "lower taxes equal higher growth, which then equals higher revenue."

Why in the world would I believe anything your double speak says after something so insane?

I went to Pepperdine's Graziadio school for finance and will call BS on your claims of being a "fiscal hawk" based on the rhetoric you are using.

You are clearly one of those people that wants to pick and chose random cherry picked numbers to try to push a point. Like your 3% GDP, who the heck cares? Especially in this conversation?

"Also due to numerous factors and conditions"

Hahaha, are you copy and pasting something you read?

 

I will be surprised if this 1.9% is not revised downward as Wall St. had just forecast 1.6% a few days ago.

 

The 5% growth Trump was boasting about is the growth in the Federal debt.

Trump is running the USA in reverse with the debt growing faster than the GDP. Last quarter GDP was ~2%. It appears to be slowing fast with the greatest effect on Trump's favorite sectors. manufacturing, steel, and coal.

US budget deficit and Federal debt is growing at around 5% of GDP.

In fact if the population growth is factored in, the GDP/capita growth is not much above 1%.

 

Tax revenues always go up unless there is a recession, but your measurement is just a rightie talking point. Here is what they actually cost us.

TCJA, however, is not that tax cut. While some TCJA supporters are touting that nominal revenues were higher in fiscal year (FY) 2018 than in FY2017, that comparison does not address the question of TCJA’s effects. Nominal revenues rise because of inflation and economic growth. Adjusted for inflation, total revenues fell from FY2017 to FY2018 (Figure 1). Adjusted for the size of the economy, they fell even more.

The most appropriate test of the revenue impact of TCJA is to compare (a) actual revenues in FY2018 with (b) predicted revenues in FY2018 assuming Congress had not passed the legislation. In fact, the actual amount of revenue collected in FY2018 was significantly lower than the Congressional Budget Office (CBO)’s projection of FY2018 revenue from January 2017—before the tax cuts were signed. The shortfall is $275 billion, or 7.6 percent of revenues that were expected before the tax cuts took place. Given that the economy grew, unless one can find some other change that caused a large revenue loss, the data imply that TCJA reduced revenues (Figure 1) – substantially.

https://www.taxpolicycenter.org/taxvox/did-tax-cuts-and-jobs-act-pay-itself-2018

Maybe you noticed the deficit went up more than the estimate even when you add in Trump's extra spending.

 

Your entire premise is a Left wing talking point

Lower taxes promote growth and the people know that to be obvoiusly true based on this incredible economy.

The one that your same taxpolicycenter was swearing would "go into recession if Trump was elected"

Sorry, you just don't have any credibility at this point to make such outlandish claims

It truly is just a left wing talking point

 

If tax cuts worked so good the GDP would be thru the roof compared to the 60's.
It's not. It's lower.
The only thing they do is starve infrastructure programs.

 

Using fake information forgetting the fact that the United States was rebuilding the entire planet in the 60's

Any other fake news, "Left Wing Talking Points" to debunk?

Claiming that lower taxes doesn't promote growth is all I want to make sure you are seen posting

 

And you got nothing.
Can you refute the article? I think it's based on the CBO numbers.
Maybe you can find something from Brightbarf.

 

Dude, you're literally not telling the truth

https://www.investors.com/politics/editorials/income-tax-revenues-trump-tax-cuts-economic-growth/

 

You make it to easy.

 

Listen, I now you want to paint a precious narrative, but to act like lower taxes doesn't promote growth simply makes your claim false.

Not really sure what else to tell ya

 

I like the CBO numbers, not some blogger.

The most appropriate test of the revenue impact of TCJA is to compare (a) actual revenues in FY2018 with (b) predicted revenues in FY2018 assuming Congress had not passed the legislation. In fact, the actual amount of revenue collected in FY2018 was significantly lower than the Congressional Budget Office (CBO)’s projection of FY2018 revenue from January 2017—before the tax cuts were signed. The shortfall is $275 billion, or 7.6 percent of revenues that were expected before the tax cuts took place. Given that the economy grew, unless one can find some other change that caused a large revenue loss, the data imply that TCJA reduced revenues (Figure 1) – substantially.





Let’s look at the taxes most affected by TCJA (Figure 2). TCJA reduced the top corporate tax rate from 35 percent to 21 percent. Actual corporate income tax revenue in FY2018 was $135 billion lower than CBO’s projection from 2017, a decline of nearly 40 percent (almost exactly equal to the decline in the rate). TCJA reduced income taxes for most Americans, which led to a decline in revenues relative to prior projections. For individual income taxes, the gap between the pre-TCJA projections and actual collections in FY2018 was $97 billion, or 5.4 percent of what was expected before the tax cuts took place. These shortfalls can’t be attributed to errors in CBO’s pre-TCJA forecast. For example, TCJA did not directly affect payroll taxes, so looking at payroll taxes is a good test of whether the 2017 projections for FY2018 revenues were sound. In fact, payroll taxes only fell slightly – 1.7 percent – from projected values (Figure 2).
https://www.brookings.edu/blog/up-f...tax-cuts-and-jobs-act-pay-for-itself-in-2018/

 

Well you could tell me we have had 70 years of tax cuts and real GDP has gone down. That would be factual.

 

Listen, like I said before, I am not here to prove anything to you, it is the people reading.

Everyone please pay attention to this, it is called "diversion". It is an attempt to cherry pick facts out of thin air, then loosely connect them to make a "air tight argument" that cannot be argued against, because in fact, it isn't an argument.

Ronv put a graph up of 70 years of policy, not talking about the Left to Right swithc, the tax differences, the fact that we created the Petro dollar. There are literally a million fiscal siutations that happened between now and then.

But by creating a chart with a red line, Ronv is trying to dissuade any actual conversation about actual fiscal policy and turn it into a nonsensical political attack.

For those of you reading, just don't engage. Once you make your point and prove beyond a reasonable doubt that the person is not telling the truth, you have basically won.

So again, LOWER TAXES PROMOTE GROWTH.

That is not debatable, no matter how many make believe charts or graphs you think prove your point

 

Everyone please see these numbers and you will see just how nonsensical their fair tales are.

https://www.statista.com/statistics/200405/receipts-of-the-us-government-since-fiscal-year-2000/

The graph above is completely made up

 

And Draco put up nothing but talking points.

0

 

Do you know the difference between "real' and "total"?

Maybe there is a temper tantrum thread you can enter.

Draco 2019

 

Calling people names, yup, sounds about right.

You don't just get to make up false things and walk away, do you really think the people fall for this nonsense?

 

Have a good night, we have come to the "Free Market Capitalism" vs "Socialism" argument.

If you do not agree that lower taxes promote growth, you fall into the latter, which is basically the argument going on in our nation.

Once people are able to break it down, as you just did, the conversation becomes much more obvious with about 65% of the nation agreeing with Capitalism.

So in the end, this debate worked out as I hoped, it showed what the morals of your argument boil down to, thanks for the good chat.

 

Has nothing to do with socialism vs capitalism. The real question is where is the sweet spot for taxes. It's not zero. Of that I am absolutely positive.

 

Again, everyone remember the main argument here.

Trump took a 9 year bull market run, where everyone said "If you do what Trump says the economy will crash!!!"

He did, and now we have extended the run into record territory in almost every economic indicator.

Meanwhile, Ron gave you a graph covering 70 years, with no other information than a red line.

Yes, debate with these people has gotten this low