The numbers are in, and Trump's tax cut didn't reduce the deficit – despite his many promises

https://www.cnbc.com/2018/10/16/tru...e-the-deficit--despite-his-many-promises.html

The healthcare law needed three years before some Americans learned that they would not be able to keep their old health insurance plans. Trump's promise regarding the only major GOP legislative accomplishment was broken in one.

Revenue from corporate taxes fell by 31%. Meanwhile, federal spending as a share of the economy also dropped.

And those 4% GDP numbers from the 2nd quarter? They are projected to end up closer to 2.9% for the year of 2018, dropping to 2.8% in 2019, and just 0.9% by 2020.

 

What spending cuts did your team propose?

 

The only thing globalist democrats want to cut is military and law enforcement.

 

Record revenues.

The problem is SPENDING, which a tax cut cannot address. Whoever wrote the article is an idiot.

 

Revenues to the treasury are above what the CBO projected when the cuts passed.

"It's the spending, stupid"....to paraphrase.

 

Revenue from corporate taxes fell by 31%. Meanwhile, federal spending as a share of the economy also dropped.

 

Christmas is coming

 

My team proposed a tax cut that did not provide 83% of the benefit to the top 1%.

 

They proposed gutting the Middle Class and lining Hillary Clinton's pockets with ungodly amounts of cash from foreign governments in a "pay for play" scheme.

 

You were definitely the target audience......

 

None of that should shock anybody on here... certainly doesn't me.... I wonder how old Bob "can't add one penny to the deficit." Corker is feeling right about now?? Oh that's right, he's out of a job in 2 months....

 

OMG that's a good one. Democrats "cutting" taxes... oh geeze... spare me. Who are you? JFK?

 

That statement is why your team lost and keeps on losing. Voters can see through the fraud and the lies that the Democrat party and the #MSM feeds the masses.

Even sheep have limits on what they will put up with. Most of the Democrat sheep are switching parties.

 

What spending cut was that?

 

It brought in record tax revenues as promised.

Feds Collect Record Individual Income Taxes in FY 2018; Still Run $779B Deficit
https://www.cnsnews.com/news/articl...ollect-record-individual-income-taxes-fy-2018

Now get the Democrats and the RINO's out of Congress and the conservative Republicans can once again bring the budget into balance as they did before and had it heading there again until the Democrats took back the Congress January of 2007.

 

Total revenues went through the roof. You can try and play games with the numbers all you want, but Leftists games are no longer respected. We know how full of crap the entire Left has become.

 

The collective is desperate to give Obama the credit for the economy that Obama and the collective both claimed was impossible. I guess trump really does have a magic wand.

Christmas is coming

 

While personal income tax revenue is up 9%. That's not supposed to happen, at least if you're a liberal. What, did you want our corp tax rate to contine twice as high as everyone else?

Good.

 

You mean the job creators?

 

He thinks poor people hire middle class workers.

 

How do you define "the roof?"

 

Of course it would happen if your a liberal. Full employment means more tax revenue from individuals.

And the corporate tax rate was not twice as high as everyone else.

Glad you can admit that spending isn't the issue.

 

I meant the top 1% Of the income bracket.

It is why I used that specific phrase.

 

I think I was correct to put you on ignore when you make troll comments designed solely to fabricate my position.

 

Our corporate tax rate was NEVER twice as high as anyone else’s. Their wasn’t a corporation in the country that paid the statutory rates. If I remember correctly, when using the actual ETR, the US is about the 39th highest....

There is also a very simple fix to the corporate tax rate. If they dont want to pay the tax, they can spend it on employee salaries. See how easy that is