toomuchtime_
Gold Member
- Dec 29, 2008
- 20,039
- 4,953
That's what the facts say.Because of high spending, but contrary to the doomsday forecasts about the tax cut, federal tax revenues have increased, not decreased, because of the tax cuts and tariffs.Actually, it does mean more money in federal coffers. Federal tax revenues are up under President Trump because the combination of the tax cuts and tariff protections have created more jobs and profits to tax.We got a better trade deal, and we're gonna save billions when the wall is completed.
Keeping in mind that the money saved by this alleged “better” trade deal doesn’t mean more money in the US Federal coffers; it means better deals for our companies that buy and sell things to Mexico.
"Taxes: Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal year 2018, as the economy grew faster and created more jobs than expected.
The Treasury Department reported this week that individual income tax collections for FY 2018 totaled $1.7 trillion. That's up $14 billion from fiscal 2017, and an all-time high. And that's despite the fact that individual income tax rates got a significant cut this year as part of President Donald Trump's tax reform plan."
Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily
Meanwhile back in reality... the national debt continues to grow; now over a trillion dollars a year.
sure…whatever you say.