Corporate Tax Revenue Came In 31% Below Predictions, And It's Getting Worse

[Harpy Eagle]

Corporations are us. Most sane Americans who aren't afflicted with TDS would say it's getting "better" instead of "worse".

Only if we could cut spending at the same time as cutting revenue.

 

[Harpy Eagle]

In this era of taxing and spending I’d rather keep my money as well. Democrats won’t keep their end of any deal.

My scenario is if we actually did cut and work to pay down the debt. I don’t see that happening. Reagan taught us that Democrats cannot be trusted with their word.

I have a plan to get spending under control, but I get called a lot of names by people on both wings when I put it forth.

But here goes...

The POTUS submits his budget and then congress does their thing and then the budget is signed. Whatever the amount requested and approved is, the IRS adjust the taxes of everyone in the country to cover the amount asked for plus 10% to pay off the debt.

I figure it would only take one year, two at the most before the outcry would force spending cuts.

 

[skews13]

My wife and I are fiscally responsible. We've never spent more than we earn in the 45 years we've been married. That does not mean we didn't buy a home using a loan, or a car or using a credit care for major purposes such as appliances.

When we needed a new roof, we took out a home loan and paid the interest. (in those days interest was tax deductible - Reagan eliminated that).

Better to take on debt, than to allow the roof to leak and destroy the interior (that is what I mean by fiscally responsible, something the Federal Government seems unable to comprehend).

Balanced budgets are an unmitigated joke, shit happens and all budgets are nothing more than a plan, which is reviewed as time passes by sensible and responsible people.

Thus the talk by fiscal conservatives about a balanced budget amendment would be disastrous.

I’m still waiting for the government to be fiscally responsible. Doubt I’ll see that in my lifetime.

Gov't must become fiscally responsible, and it must begin at the ballot box. The fact is that the opposite of trickle down has been in play for decades, and our democratic republic has become a Plutocracy.

Fiscal Conservatism simply kicks the can down the road. If the roof leaks, fix it; it the clouds drop copious amounts of rain, fix the creeks, rivers and dams sooner than too late.

It’s real easy freeze then cut spending, Raise taxes for a couple years to help pay down the debt. Quit funding research, funding corporations, quit foreign aid and quit enlarging our social programs. Get America on its feet first then we help our residents.

/——/ The only part of your plan that would be enacted is the tax increase. The rest would be quickly forgotten.

I agree, I notice the left likes it when I talk tax increases but when I mention cutting lots of programs they clam up.

That’s the problem with compromise, the left wants it all.

In this era of taxing and spending I’d rather keep my money as well. Democrats won’t keep their end of any deal.

My scenario is if we actually did cut and work to pay down the debt. I don’t see that happening. Reagan taught us that Democrats cannot be trusted with their word.

I have a plan to get spending under control, but I get called a lot of names by people on both wings when I put it forth.

But here goes...

The POTUS submits his budget and then congress does their thing and then the budget is signed. Whatever the amount requested and approved is, the IRS adjust the taxes of everyone in the country to cover the amount asked for plus 10% to pay off the debt.

I figure it would only take one year, two at the most before the outcry would force spending cuts.

I like mine better. We completely repeal every deregulatory law, and tax cut enacted after 1981, and return to the taxes and regulations that had the largest middleclass expansion from 1950-1975.

 

[Flopper]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Unfortunately, Trump and the republicans played the tax cut card when their no reason to do, the economy was improving and inflation was in check. Now with Trump's tariff war starting to take effect, the economy is well overdue for a major correction. Trump is going to find he's short on economic stimulus and with falling tax revenue and increasing government spending, it seems likely Trump is going have a big deficit to present voters with next year.

 

[Rambunctious]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Unfortunately, Trump and the republicans played the tax cut card when their no reason to do, the economy was improving and inflation was in check. Now with Trump's tariff war starting to take effect, the economy is well overdue for a major correction. Trump is going to find he's short on economic stimulus and with falling tax revenue and increasing government spending, it seems likely Trump is going have a big deficit to present voters with next year.

Sorry improving at a snails pace was not acceptable.....

"every day that goes by a businessman gets up and looks into the mirror and blames himself but its not his fault"

Bill Clinton 2012

 

[Cellblock2429]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Unfortunately, Trump and the republicans played the tax cut card when their no reason to do, the economy was improving and inflation was in check. Now with Trump's tariff war starting to take effect, the economy is well overdue for a major correction. Trump is going to find he's short on economic stimulus and with falling tax revenue and increasing government spending, it seems likely Trump is going have a big deficit to present voters with next year.

/—-/ Did you send your tax cut back as a protest?

 

[ThunderKiss1965]

I see you have trouble sticking to the topic,,,

kool-aid has a tendency to cause that,,,

I’m on subject, just had a quick question to see where you draw the line. Why don’t you answer it. Looks like youre dodging.

I did answer,,,

where in the constitution does that authority exist???

my line when we are talking about the feds is the constitution,,,

Ok then so you would consider the VA unconstitutional, right?

The Federal Government is required by the Constitution to provide a military. Compensation for disabilities due to military service can not be considered unconstitutional.

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

 

[Slade3200]

I’m on subject, just had a quick question to see where you draw the line. Why don’t you answer it. Looks like youre dodging.

I did answer,,,

where in the constitution does that authority exist???

my line when we are talking about the feds is the constitution,,,

Ok then so you would consider the VA unconstitutional, right?

The Federal Government is required by the Constitution to provide a military. Compensation for disabilities due to military service can not be considered unconstitutional.

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

 

[progressive hunter]

I did answer,,,

where in the constitution does that authority exist???

my line when we are talking about the feds is the constitution,,,

Ok then so you would consider the VA unconstitutional, right?

The Federal Government is required by the Constitution to provide a military. Compensation for disabilities due to military service can not be considered unconstitutional.

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

because they are illegal,,,the constitution is the law of the land, not a suggestion,,,

 

[Flopper]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Unfortunately, Trump and the republicans played the tax cut card when their no reason to do, the economy was improving and inflation was in check. Now with Trump's tariff war starting to take effect, the economy is well overdue for a major correction. Trump is going to find he's short on economic stimulus and with falling tax revenue and increasing government spending, it seems likely Trump is going have a big deficit to present voters with next year.

/—-/ Did you send your tax cut back as a protest?

Tax cut???
Surely you jest.

 

[Slade3200]

Ok then so you would consider the VA unconstitutional, right?

The Federal Government is required by the Constitution to provide a military. Compensation for disabilities due to military service can not be considered unconstitutional.

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

because they are illegal,,,the constitution is the law of the land, not a suggestion,,,

Yes the constitution is the law of the land but it doesn’t not contain everything... it grants congress the power to make other laws and it gives the president the powers to approve or veto those laws and it gives anybody the right to challenge those laws and it gives the Supreme Court the power to rule on the validity of those laws. All this has been done with the topics we have been discussing making them valid and legal. You are one dimensional and your arguments are getting old. Shift gears and keep up or pull over and stop wasting our time.

 

[g5000]

Time to slash spending.

The OP's head just exploded. lol

Too bad for you Trump's annual spending has been the biggest in human history. lol

And now the dumbass has exacerbated the problem by lowering revenues for the first time since the Great Recession. In a supposedly booming economy.

It's takes a special kind of retard to achieve that.

 

[g5000]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Here's a funny thing.

If a corporation sold something at a profit, and then bought something of equal value (in kind), they would get a tax exemption on the profit. The art world used this tax exemption quite a lot, as well as many other business sectors.

But Trump's tax "cut" took that exemption away, except for one particular business sector.

Guess which one.


Yeah. Real estate.

Trump kept the tax exemption for himself. Nice, huh?

 

[caddo kid]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

This is GREAT NEWS, just as many within the thread have echoed that sentiment.
AmeriKKKa doesn't need tax receipts & I'm glad to see Trump supporters here agree.

As we all know, the Trump administration via the (formerly) GOP majority House, and the majority GOP Senate, passed MASSIVE TAX CUTS for the wealthiest 0.001% of individuals, and for the corporations.

Within this great maneuver the GOP successfully allowed the VERY INDIVIDUALS & the CORPORATIONS that can actually afford to pay more tax, to forego paying more tax, thereby DECREASING TAX RECEIPTS.

WHY IS THIS GREAT NEWS for AmeriKKKa?
This will allow AmeriKKKa to increase deficits & debt at a QUICKER PACE, there by increasing the potential for the nation to become a shit hole, third world nation, at a quicker pace!!!

This is great news & the winning is awesome.

Keep it up Trump & GOP; you guys are gonna put our asses in the sewer faster than shit!!!

Winning!!!!!!!!!

 

[progressive hunter]

The Federal Government is required by the Constitution to provide a military. Compensation for disabilities due to military service can not be considered unconstitutional.

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

because they are illegal,,,the constitution is the law of the land, not a suggestion,,,

Yes the constitution is the law of the land but it doesn’t not contain everything... it grants congress the power to make other laws and it gives the president the powers to approve or veto those laws and it gives anybody the right to challenge those laws and it gives the Supreme Court the power to rule on the validity of those laws. All this has been done with the topics we have been discussing making them valid and legal. You are one dimensional and your arguments are getting old. Shift gears and keep up or pull over and stop wasting our time.

they dont have power to violate my 5th amendment rights or violate the 10th unless they repeal them, and that has yet to be done,,,

 

[Slade3200]

Do you have a link? I’d like to see where the constitution says that all military and their families are entitled to lifetime healthcare benefits

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

because they are illegal,,,the constitution is the law of the land, not a suggestion,,,

Yes the constitution is the law of the land but it doesn’t not contain everything... it grants congress the power to make other laws and it gives the president the powers to approve or veto those laws and it gives anybody the right to challenge those laws and it gives the Supreme Court the power to rule on the validity of those laws. All this has been done with the topics we have been discussing making them valid and legal. You are one dimensional and your arguments are getting old. Shift gears and keep up or pull over and stop wasting our time.

they dont have power to violate my 5th amendment rights or violate the 10th unless they repeal them, and that has yet to be done,,,

Well according to congress, past presidents and the Supreme Court they do have that right and I’m going to easily take their opinions more seriously than yours.

 

[OnePercenter]

Time to slash spending.

Cap the State repayment of federal funds to 80%.

 

[progressive hunter]

Not all Veterans get benefits. Only those disabled by military service and those that retire. you know the same thing that people expect to happen in the civilian world. When you join up you sign a legally binding contract with the military and the Federal government. Part of that contract is a promise to provide certain benefits.

Do you expect those that serve in military to do the job for free with no benefits at all ? The military is mentioned in the Constitution helping those that served is an extension of that.

Of course I don’t expect them to do the job for free and I’m all for their benefits and the VA. I was only asking because Mr PP who I was debating kept making the argument that taxing and spending for things not explicitly spelled out in the constitution was theft and illegal.

because they are illegal,,,the constitution is the law of the land, not a suggestion,,,

Yes the constitution is the law of the land but it doesn’t not contain everything... it grants congress the power to make other laws and it gives the president the powers to approve or veto those laws and it gives anybody the right to challenge those laws and it gives the Supreme Court the power to rule on the validity of those laws. All this has been done with the topics we have been discussing making them valid and legal. You are one dimensional and your arguments are getting old. Shift gears and keep up or pull over and stop wasting our time.

they dont have power to violate my 5th amendment rights or violate the 10th unless they repeal them, and that has yet to be done,,,

Well according to congress, past presidents and the Supreme Court they do have that right and I’m going to easily take their opinions more seriously than yours.

they used to say slavery was alright,,,,

just because they get away with it doesnt make it right,,,

 

[OnePercenter]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

You tRump-chumps laughed at me when I posted that corporate tax payments were down 50%.

Who's the "chump" now?

 

[Cellblock2429]

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Big businesses paying even less than expected under GOP tax law


But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.

Unfortunately, Trump and the republicans played the tax cut card when their no reason to do, the economy was improving and inflation was in check. Now with Trump's tariff war starting to take effect, the economy is well overdue for a major correction. Trump is going to find he's short on economic stimulus and with falling tax revenue and increasing government spending, it seems likely Trump is going have a big deficit to present voters with next year.

/—-/ Did you send your tax cut back as a protest?

Tax cut???
Surely you jest.

/—-/ Yeah, you figure out how much you saved then write a check to the treasury department.