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Your ignorance on this subject is shocking.Revenues increased because we were printing billions of dollars.
colfax_m also thinks a projection from a lefty outfit for 2025 shows the tax cut "was terrific for some".Your ignorance on this subject is shocking.
But, keep up the good work!
You're not aware that we had virtually noon inflation during the Trump years and it is running rampant since Biden took office, are you not?
Nostra
I liked my tax cut. Wish it were still here. If dumbass didn't like his he could give it back. The Government would take it. No problem. What a maroon.
So, Haskins is a RWNJ.
Haskins is a widely published writer and political commentator and the editorial director and research fellow at The Heartland Institute, a national free-market think tank.
Haskins writes frequently for FoxNews.com and works as a contributor for The Hill, Newsweek, Washington Examiner, and Townhall. He has appeared on television and radio more than 200 times, on shows like Tucker Carlson Tonight, Fox & Friends, and the Glenn Beck Program.
The Heartland Institute is endorsed by some of the top scholars, thinkers, and politicians in the world – including many members of congress and state elected officials and the leaders of other conservative and libertarian think tanks such as Americans for Tax Reform’s Grover Norquist, The Leadership Institute’s Morton Blackwell, The Heritage Foundation’s Jim DeMint, and many more.
Your ignorance on this subject is shocking.
But, keep up the good work!
You're not aware that we had virtually noon inflation during the Trump years and it is running rampant since Biden took office, are you not?
Revenues increased.
Stop spending.
Dragonlady
Kinda funny a Canadian knows what's in my paycheck. Stick to insulting Canadians. They deserve a moron like you.
Glad you finally agree. By lowering taxes, money came home from overseas and revenues were INCREASED.Revenues increased because the corporations brought home capital from overseas and paid a 10% tax on it. It was a one time payment, not be repeated. Overall revenues are way down, and the deficit is out of control.
| Fiscal Year | Revenue |
|---|---|
| FY 2021 | $3.86 (estimated) |
| FY 2020 | $3.71 trillion (estimated) |
| FY 2019 | $3.46 trillion (actual) |
| FY 2018 | $3.33 trillion |
| FY 2017 | $3.32 trillion |
| FY 2016 | $3.27 trillion |
| FY 2015 | $3.25 trillion |
| FY 2014 | $3.02 trillion |
| FY 2013 | $2.77 trillion |
| FY 2012 | $2.45 trillion |
| FY 2011 | $2.30 trillion |
| FY 2010 | $2.16 trillion |
| FY 2009 | $2.10 trillion |
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You must have patience my little lemming. Tax cuts increase revenue in the long term as the economy flourishes and there is more taxale revenue. Conversely, tax hikes create a short lived rise in revenue followed by a decrease as the economy downturns and there is less taxable revenue resilting in yet another call for tax hikes. It is organic growth versus inorganic growth. Democrats are short-sighted thinkers if they actually think at all.It was a one time payment, not be repeated. Overall revenues are way down, and the deficit is out of control.
Overall revenues are way down,Revenues increased because the corporations brought home capital from overseas and paid a 10% tax on it. It was a one time payment, not be repeated. Overall revenues are way down, and the deficit is out of control.
The larger question is, why are you constantly making a fool of yourself by attack my posts? You seem to be obsessed with me. You never refute anything I post, you simply insult me, again and again, like a lovestruck school boy. You're not my type.
I posted what the tax savings were for someone making $40,000 per year and what they are for those making $500,000, after googling the tax rates. What does that have to do with you.
| Fiscal Year | Revenue |
|---|---|
| FY 2021 | $3.86 (estimated) |
| FY 2020 | $3.71 trillion (estimated) |
| FY 2019 | $3.46 trillion (actual) |
| FY 2018 | $3.33 trillion |
| FY 2017 | $3.32 trillion |
| FY 2016 | $3.27 trillion |
Glad you finally agree. By lowering taxes, money came home from overseas and revenues were INCREASED.
U.S. Tax Revenue by Year
Here's a record of income for each fiscal year since 1789. Tax receipts fell off during the recession but started setting new records by FY 2013.
Fiscal Year Revenue FY 2021 $3.86 (estimated) FY 2020 $3.71 trillion (estimated) FY 2019 $3.46 trillion (actual) FY 2018 $3.33 trillion FY 2017 $3.32 trillion FY 2016 $3.27 trillion FY 2015 $3.25 trillion FY 2014 $3.02 trillion FY 2013 $2.77 trillion FY 2012 $2.45 trillion FY 2011 $2.30 trillion FY 2010 $2.16 trillion FY 2009 $2.10 trillion
U.S. Federal Government Tax Revenue
The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.www.thebalance.com
| FY 2004 | $1.88 trillion |
| FY 2003 | $1.78 trillion |
| FY 2002 | $1.85 trillion |
| FY 2001 | $1.99 trillion |
| FY 2000 | $2.03 trillion |
Revenues drop by $4 trillion.I fail to see what point you're making. The repatriation tax was levied on billions of dollars which have been sitting offshore. The increase in revenue is due to the increase in the numbers of people working, and the increase in population.
Added to which is that Trump's tax cut was accompanied by a massive increase in spending. Taxes paid on the increased spending also increase revenues. If Trump's hadn't increased spending concurrent with the tax cuts, would revenue have gone up?
What is critical is that tax cuts have NEVER paid for themselves.
Take a look at the Bush Tax cuts. Bush gets a balanced budge and cut taxes. Revenues drop by $4 trillion.
FY 2004 $1.88 trillion FY 2003 $1.78 trillion FY 2002 $1.85 trillion FY 2001 $1.99 trillion FY 2000 $2.03 trillion
| FY 2008 | $2.52 trillion |
| FY 2007 | $2.57 trillion |
| FY 2006 | $2.41 trillion |
| FY 2005 | $2.15 trillion |
| FY 2004 | $1.88 trillion |
| FY 2003 | $1.78 trillion |
Never enough to cover the cost of tax cuts.Tax cuts increase revenue in the long term as the economy flourishes and there is more taxale revenue.
What is "the cost of tax cuts"? Letting someone keep more of the money they make isn't a "cost" to the government, unless you think all money belongs to the goverment.Never enough to cover the cost of tax cuts.
There is no free lunch. The Laffer curve is a myth conservatives tell themselves to justify cuts and deficits.
Never enough to cover the cost of tax cuts.
There is no free lunch. The Laffer curve is a myth conservatives tell themselves to justify cuts and deficits.
This is all blind faith, not backed by data at all.Wrong. There is enough to cover the cost of the cuts long term. Obviously, it depends on the size of the cuts, but it is utterly laughable to think that raising taxes is the answer to continue to cover out-of-control spending. It is a dead-end road.
Sorry, but Art Laffer is infinitely more informed on economics than you.
Revenues go up after tax cuts are implemented. Our problem is spending.This is all blind faith, not backed by data at all.
I mean, we’ve been going hard at tax cuts since Reagan and where has it gotten us? Deeper debt and waning GDP growth. Trump couldn’t even break 3%.
