Tax Revenues Jump 13% To Record High In April — When Will Dems Admit They Were Wrong?

[bripat9643]

You're just another ding dong who doesn't understand how withholding works.

Tax Cuts and Jobs Act of 2017 - Wikipedia

Pub.L. 115–97, an Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,[1] is a congressional revenue act originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA).[2][3]​

From your link...

Most of the changes introduced by the bill went into effect on January 1, 2018 and will not affect 2017 taxes

Fucking moron.

We started paying 2018 taxes on January 2018, you fucking moron.

Taxes for 2018 are withheld from Jan 1, 2018 to Dec 31, 2018. Somone who doesn't understand how withholding works is a fucking moron. I've already explained this about 10 times, and it still hasn't penetrated your thick skull.

And LESS taxes are being taken out. You're completely brain-dead to assert taking LESS taxes produces GREATER revenues.

Then how is revenue this year higher than revenue last year?

It takes a special kind of stupid to claim that what actually happened can't happen.

Most of the revenue that was taken in in April was paid on income from 2017, not 1018. You do know that April is the month that taxes are due, right? I realize working at Wendy's you have never had to actually pay any taxes, but trust me on this one.

Another idiot. You pay your taxes every time you get a paycheck. You don't pay the entire amount in April. You snowflakes are so fucking dumb you don't even understand how witholding works.

 

[Harpy Eagle]

It shows precisely the opposite. Revenue increased. For your claim to be true, revenue would have to be lower this year than last year.

How many times does this simple fact have to be hammered into your thick skull?

Actually this is false. For his claim to be true all that would need to happen is that the revenue growth is slower than last year. Which has been the case after every tax cut.

For example...

The 5 years prior to the first Reagan tax cut the percent of change for tax revenue was +16%, +11%, +14%, +10% and +14% for an average increase of 13%. The 5 years after his first cut the percent of change was +3%, -3%, +10%, +9%, +8%, for an average change of 5%. Then Reagan cut taxes again and the next 5 years were +7%, +6%, +8%, +4%, +2%, which once again comes out to an average change of 5%.

Which seems better to you, an average increase of 13% or 5% increase?

 

[Harpy Eagle]

From your link...

Most of the changes introduced by the bill went into effect on January 1, 2018 and will not affect 2017 taxes

Fucking moron.

We started paying 2018 taxes on January 2018, you fucking moron.

Taxes for 2018 are withheld from Jan 1, 2018 to Dec 31, 2018. Somone who doesn't understand how withholding works is a fucking moron. I've already explained this about 10 times, and it still hasn't penetrated your thick skull.

And LESS taxes are being taken out. You're completely brain-dead to assert taking LESS taxes produces GREATER revenues.

Then how is revenue this year higher than revenue last year?

It takes a special kind of stupid to claim that what actually happened can't happen.

Most of the revenue that was taken in in April was paid on income from 2017, not 1018. You do know that April is the month that taxes are due, right? I realize working at Wendy's you have never had to actually pay any taxes, but trust me on this one.

Another idiot. You pay your taxes every time you get a paycheck. You don't pay the entire amount in April. You snowflakes are so fucking dumb you don't even understand how witholding works.

And in April I and a whole lot of people that do not work at Wendy's like you send the Fed Govt a nice fat check to cover our taxes that were not withheld.

If you ever get a job making more than 12 bucks an hour you might find out about such things.

 

[bripat9643]

It shows precisely the opposite. Revenue increased. For your claim to be true, revenue would have to be lower this year than last year.

How many times does this simple fact have to be hammered into your thick skull?

Actually this is false. For his claim to be true all that would need to happen is that the revenue growth is slower than last year. Which has been the case after every tax cut.

For example...

The 5 years prior to the first Reagan tax cut the percent of change for tax revenue was +16%, +11%, +14%, +10% and +14% for an average increase of 13%. The 5 years after his first cut the percent of change was +3%, -3%, +10%, +9%, +8%, for an average change of 5%. Then Reagan cut taxes again and the next 5 years were +7%, +6%, +8%, +4%, +2%, which once again comes out to an average change of 5%.

Which seems better to you, an average increase of 13% or 5% increase?

Prior to Reagan's first tax cut tax brackets weren't indexed for inflation, so there was an automatic tax increase every year due to inflation. That's not the case since.

Your theory is bullshit.

Right now revenue is on track for an 8.6% annual increase, despite indexing of the brackets for inflation.

 

[bripat9643]

We started paying 2018 taxes on January 2018, you fucking moron.

Taxes for 2018 are withheld from Jan 1, 2018 to Dec 31, 2018. Somone who doesn't understand how withholding works is a fucking moron. I've already explained this about 10 times, and it still hasn't penetrated your thick skull.

And LESS taxes are being taken out. You're completely brain-dead to assert taking LESS taxes produces GREATER revenues.

Then how is revenue this year higher than revenue last year?

It takes a special kind of stupid to claim that what actually happened can't happen.

Most of the revenue that was taken in in April was paid on income from 2017, not 1018. You do know that April is the month that taxes are due, right? I realize working at Wendy's you have never had to actually pay any taxes, but trust me on this one.

Another idiot. You pay your taxes every time you get a paycheck. You don't pay the entire amount in April. You snowflakes are so fucking dumb you don't even understand how witholding works.

And in April I and a whole lot of people that do not work at Wendy's like you send the Fed Govt a nice fat check to cover our taxes that were not withheld.

If you ever get a job making more than 12 bucks an hour you might find out about such things.

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

I pay taxes quarterly because I have an LLC.

 

[Faun]

No one is ignoring it -- what's being explained to you, but you're too big of a fucking moron to understand, is that it's due to reasons not related to Trump's tax cuts, which just went into effect 3 months earlier.

Ah, so know you are admitting that Trump's tax cut was in effect duing the period. However, your trying to distance yourself from the snowflake claim that the tax cuts would cause the deficite to explode.

Fucking moron, how retarded do yo have to be to think I'm distancing myself from the claim that Trump's tax cuts are exploding the deficit when it's in my signature??



You keep outdoing yourself as the biggest fucking moron on this forum.

Your signature doesn't mention Trump's tax cut, you fucking moron.

Of course it does, tacitly, as it shows Trump's policies, which includes his tax cuts, are exploding the deficit.

Right, you fucking douchebag. Who do you think you're fooling?

I'm fooling you, apparently, since you're stupid enough to think his tax cuts are not reflected in this fiscal year's deficit.

 

[Faun]

Why do these morons struggle with math?

The deficit has increased since the ill advised Trump tax cuts

What "math" says the increasing revenues causes a larger deficit?

You are a special kind of stupid.

Poor, poor fIngerboy

Cutting revenue while maintaining existing spending INCREASES your deficit

Just like we are seeing with Crooked Donnie

Revenue increased, you fucking moron. How many times do you have to be told that? It's the subject of the OP. Does reality impinge on your brain at any point?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%.​

No shit Fingerboy

Revenue increases every April when people pay their taxes. So the question becomes what was the difference between this year and last year?

We are six months (Trumps tax cut is only three) into this fiscal year and you are bragging about a 4.3 percent increase. Which would mean an 8.6 percent annual increase.

The reason we got a 13 percent increase was because of huge stock market gains in 2017

An 8.6% annual increase is quite large. Whether it has anything to do with capital gains remains to be established. We also had stock market gains in 2016. Of course, the snowflake theory was that Trump's tax cut would cause a loss in revenue. That theory is obviously wrong.

The Dow increased 2½ times more in 2017 than 2016. Yet more evidence that you're a fucking moron.

 

[bripat9643]

Ah, so know you are admitting that Trump's tax cut was in effect duing the period. However, your trying to distance yourself from the snowflake claim that the tax cuts would cause the deficite to explode.

Fucking moron, how retarded do yo have to be to think I'm distancing myself from the claim that Trump's tax cuts are exploding the deficit when it's in my signature??



You keep outdoing yourself as the biggest fucking moron on this forum.

Your signature doesn't mention Trump's tax cut, you fucking moron.

Of course it does, tacitly, as it shows Trump's policies, which includes his tax cuts, are exploding the deficit.

Right, you fucking douchebag. Who do you think you're fooling?

I'm fooling you, apparently, since you're stupid enough to think his tax cuts are not reflected in this fiscal year's deficit.

They are. The deficit is lower because of Trumps tax cuts. One thing all you morons are forgetting is that a lot of companies like Apple are repatriating their overseas profits since they aren't taxed at 35% anymore.

 

[bripat9643]

What "math" says the increasing revenues causes a larger deficit?

You are a special kind of stupid.

Poor, poor fIngerboy

Cutting revenue while maintaining existing spending INCREASES your deficit

Just like we are seeing with Crooked Donnie

Revenue increased, you fucking moron. How many times do you have to be told that? It's the subject of the OP. Does reality impinge on your brain at any point?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%.​

No shit Fingerboy

Revenue increases every April when people pay their taxes. So the question becomes what was the difference between this year and last year?

We are six months (Trumps tax cut is only three) into this fiscal year and you are bragging about a 4.3 percent increase. Which would mean an 8.6 percent annual increase.

The reason we got a 13 percent increase was because of huge stock market gains in 2017

An 8.6% annual increase is quite large. Whether it has anything to do with capital gains remains to be established. We also had stock market gains in 2016. Of course, the snowflake theory was that Trump's tax cut would cause a loss in revenue. That theory is obviously wrong.

The Dow increased 2½ times more in 2017 than 2016. Yet more evidence that you're a fucking moron.

You can thank Trump for that.

How much revenue was obtained from capital gains?

 

[Faun]

I haven't read the thread yet other than skimming the op article,

however, from the title and the first paragraph or so in the op article it implies these tax cuts that passed reflected the money collected in April 2018 for Income taxes owed and PAID... for last year's, 2017's income tax obligations, of which there were no tax cuts effective at the time that generated these revenues?

So the premise that this year's tax revenues collected were from some sort of tax cut stimulating and affecting the market, by increasing employment which in turn increased revenues...and made up for the tax revenue decrease caused by the tax cut....

No such thing was proven yet....revenues collected this past April are from taxes collected for 2017 tax laws in place, of which the tax cuts had not been in place until 2018.

We'll no more NEXT YEAR in April 2019 if the tax cuts affecting 2018's tax revenues, brought in more or less revenue than 2017's April take....or basically, whether if "Tax cuts, pay for themselves".

You're just another ding dong who doesn't understand how withholding works.

Tax Cuts and Jobs Act of 2017 - Wikipedia

Pub.L. 115–97, an Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,[1] is a congressional revenue act originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA).[2][3]​

From your link...

Most of the changes introduced by the bill went into effect on January 1, 2018 and will not affect 2017 taxes

Fucking moron.

We started paying 2018 taxes on January 2018, you fucking moron.

Taxes for 2018 are withheld from Jan 1, 2018 to Dec 31, 2018. Somone who doesn't understand how withholding works is a fucking moron. I've already explained this about 10 times, and it still hasn't penetrated your thick skull.

And LESS taxes are being taken out. You're completely brain-dead to assert taking LESS taxes produces GREATER revenues.

Then how is revenue this year higher than revenue last year?

It takes a special kind of stupid to claim that what actually happened can't happen.

Several factors .... more people working, paying taxes. More money earned from booming investments.

 

[Faun]

Fucking moron, how retarded do yo have to be to think I'm distancing myself from the claim that Trump's tax cuts are exploding the deficit when it's in my signature??



You keep outdoing yourself as the biggest fucking moron on this forum.

Your signature doesn't mention Trump's tax cut, you fucking moron.

Of course it does, tacitly, as it shows Trump's policies, which includes his tax cuts, are exploding the deficit.

Right, you fucking douchebag. Who do you think you're fooling?

I'm fooling you, apparently, since you're stupid enough to think his tax cuts are not reflected in this fiscal year's deficit.

They are.

So you admit my signature reflects his tax cuts. why was that so hard for you to admit?

 

[Faun]

Poor, poor fIngerboy

Cutting revenue while maintaining existing spending INCREASES your deficit

Just like we are seeing with Crooked Donnie

Revenue increased, you fucking moron. How many times do you have to be told that? It's the subject of the OP. Does reality impinge on your brain at any point?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%.​

No shit Fingerboy

Revenue increases every April when people pay their taxes. So the question becomes what was the difference between this year and last year?

We are six months (Trumps tax cut is only three) into this fiscal year and you are bragging about a 4.3 percent increase. Which would mean an 8.6 percent annual increase.

The reason we got a 13 percent increase was because of huge stock market gains in 2017

An 8.6% annual increase is quite large. Whether it has anything to do with capital gains remains to be established. We also had stock market gains in 2016. Of course, the snowflake theory was that Trump's tax cut would cause a loss in revenue. That theory is obviously wrong.

The Dow increased 2½ times more in 2017 than 2016. Yet more evidence that you're a fucking moron.

You can thank Trump for that.

How much revenue was obtained from capital gains?

Putz.... the markets' have been going up for 8 years now. How is that thanks to Trump??

 

[Siete]

We started paying 2018 taxes on January 2018, you fucking moron.

Taxes for 2018 are withheld from Jan 1, 2018 to Dec 31, 2018. Somone who doesn't understand how withholding works is a fucking moron. I've already explained this about 10 times, and it still hasn't penetrated your thick skull.

And LESS taxes are being taken out. You're completely brain-dead to assert taking LESS taxes produces GREATER revenues.

Then how is revenue this year higher than revenue last year?

It takes a special kind of stupid to claim that what actually happened can't happen.

Most of the revenue that was taken in in April was paid on income from 2017, not 1018. You do know that April is the month that taxes are due, right? I realize working at Wendy's you have never had to actually pay any taxes, but trust me on this one.

Another idiot. You pay your taxes every time you get a paycheck. You don't pay the entire amount in April. You snowflakes are so fucking dumb you don't even understand how witholding works.

And in April I and a whole lot of people that do not work at Wendy's like you send the Fed Govt a nice fat check to cover our taxes that were not withheld.

If you ever get a job making more than 12 bucks an hour you might find out about such things.

EXACTLY !

tax revenues increase in April because people pay taxes - not because Trump was up at 3am tweeting lies.

 

[Harpy Eagle]

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

This is true, but this does not change the fact that the money being paid in April is mostly from the previous year, that is why there is a spike every single April, and not just when your savior is in the White House

 

[bripat9643]

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

This is true, but this does not change the fact that the money being paid in April is mostly from the previous year, that is why there is a spike every single April, and not just when your savior is in the White House

Wrong, idiot. The money being paid in April is being paid in April. There is no money from the previous year. Revenues are spent the moment they come in. the Federal government doesn't keep tax money in a giant savings account.

 

[BuckToothMoron]

Once again, snowflake claims about tax cuts are proven wrong. Everything they know is wrong.

Trump Tax Cuts: Revenues Hit Record High In April

The federal government collected far more taxes this April than it did a year ago, despite the "budget busting" Trump tax cuts. So, we'll ask again: Are the tax cuts paying for themselves?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%. That's a faster rate of growth than occurred during President Obama's last years in office. (See nearby chart.)

Individual taxes, the CBO report says, are up 11.5% so far this fiscal year, and payroll taxes are up 2.8%. Both are signs of a healthy labor market, which is creating more jobs, higher wages and, as a result, more tax revenues. Those gains, the CBO says, more than offset the 22% decline in corporate income taxes.

In other words, in a fiscal year that's seven months old (four of which were after the tax cuts went into effect), federal revenues are higher than ever.

Or, to put it another way, it looks like those of us who predicted the pro-growth tax cuts would at least partially pay for themselves through increased economic growth were correct.

The CBO admitted as much earlier this year, when it sharply increased its forecast for economic growth this year and next, largely because of Trump's tax cuts. That, in turn, will generate $1 trillion more in revenues than expected.​

Your own link has a graph showing revenue has been steadily increasing for the last 5 years .

Did Trump go back in time and do that too?

This chart? That is not a steady increase. Years 14,15 and 16 were nearly flat. All years prior to the tax cuts. I’m sure your local community college has a class that could help you learn to interpret a chart.

 

[BuckToothMoron]

Once again, snowflake claims about tax cuts are proven wrong. Everything they know is wrong.

Trump Tax Cuts: Revenues Hit Record High In April

The federal government collected far more taxes this April than it did a year ago, despite the "budget busting" Trump tax cuts. So, we'll ask again: Are the tax cuts paying for themselves?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%. That's a faster rate of growth than occurred during President Obama's last years in office. (See nearby chart.)

Individual taxes, the CBO report says, are up 11.5% so far this fiscal year, and payroll taxes are up 2.8%. Both are signs of a healthy labor market, which is creating more jobs, higher wages and, as a result, more tax revenues. Those gains, the CBO says, more than offset the 22% decline in corporate income taxes.

In other words, in a fiscal year that's seven months old (four of which were after the tax cuts went into effect), federal revenues are higher than ever.

Or, to put it another way, it looks like those of us who predicted the pro-growth tax cuts would at least partially pay for themselves through increased economic growth were correct.

The CBO admitted as much earlier this year, when it sharply increased its forecast for economic growth this year and next, largely because of Trump's tax cuts. That, in turn, will generate $1 trillion more in revenues than expected.​

Your own link has a graph showing revenue has been steadily increasing for the last 5 years .

Did Trump go back in time and do that too?

This chart? That is not a steady increase. Years 14,15 and 16 were nearly flat. All years prior to the tax cuts. I’m sure your local community college has a class that could help you learn to interpret a chart.
View attachment 193338

Correction to previous post- years 15, 16 and 17 were nearly flat.

 

[Faun]

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

This is true, but this does not change the fact that the money being paid in April is mostly from the previous year, that is why there is a spike every single April, and not just when your savior is in the White House

Wrong, idiot. The money being paid in April is being paid in April. There is no money from the previous year. Revenues are spent the moment they come in. the Federal government doesn't keep tax money in a giant savings account.

You know you're a fucking moron? I had to pay almost $10,000 in April because that was how much I underpaid for 2017's taxes. What I paid in April, despite being paid in April, was based 100% on income earned in 2017 and had absolutely nothing to do with Trump's tax cuts.

 

[bripat9643]

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

This is true, but this does not change the fact that the money being paid in April is mostly from the previous year, that is why there is a spike every single April, and not just when your savior is in the White House

Wrong, idiot. The money being paid in April is being paid in April. There is no money from the previous year. Revenues are spent the moment they come in. the Federal government doesn't keep tax money in a giant savings account.

You know you're a fucking moron? I had to pay almost $10,000 in April because that was how much I underpaid for 2017's taxes. What I paid in April, despite being paid in April, was based 100% on income earned in 2017 and and absolutely nothing to do with Trump's tax cuts.

Bottom line: the taxes you paid in April 2018 were the taxes you paid in April 2018. They were recorded as revenue in April 2018, not in the the year 2017.

You really don't understand how the income tax system works, do you, dumbass?

You may have underpaid, but most people overpay.

 

[Harpy Eagle]

Most people get a refund because they are too stupid to understand that they are loaning the government money at zero interest.

This is true, but this does not change the fact that the money being paid in April is mostly from the previous year, that is why there is a spike every single April, and not just when your savior is in the White House

Wrong, idiot. The money being paid in April is being paid in April. There is no money from the previous year. Revenues are spent the moment they come in. the Federal government doesn't keep tax money in a giant savings account.

Oh my god, you cannot be this stupid. The check that I wrote to the Govt and sent to them in April of this year was from the taxes for 2017, not 2018.

You claim to have an LLC and you are too stupid to know this?

Shows what a fraud you are