Big, Beautiful Tax Cut, the best tax cuts

Jul 2019
8,023
4,883
Georgia
Bloomberg - Are you a robot?

U.S. Budget Deficit Already Exceeds Last Year’s Total Figure

The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue.

The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in an emailed statement on Monday. That’s wider than last fiscal year’s shortfall of $779 billion -- which was the largest federal deficit since 2012.

~~~

Republican tax cuts, increased federal spending and an aging population have contributed to the fiscal strains, though the GOP says tax reform enacted last year will spur economic growth and lift government revenue. Corporate income-tax receipts rose 3% between October and July, while individual income taxes gained 1%, according to Treasury data.
 
Aug 2019
924
888
Albuquerque, NM
Bloomberg - Are you a robot?

U.S. Budget Deficit Already Exceeds Last Year’s Total Figure

The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue.

The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in an emailed statement on Monday. That’s wider than last fiscal year’s shortfall of $779 billion -- which was the largest federal deficit since 2012.

~~~

Republican tax cuts, increased federal spending and an aging population have contributed to the fiscal strains, though the GOP says tax reform enacted last year will spur economic growth and lift government revenue. Corporate income-tax receipts rose 3% between October and July, while individual income taxes gained 1%, according to Treasury data.
Yup, and all most companies did was buy back their stocks, give the execs more money, and many even laid off workers. They don't even care about trying to hide the scam anymore, they just blatantly do it. Oh, but some companies sold the scam by giving a one time pittance of a bonus so they can dupe the brainwashed. Tax cuts for the rich doe make them more and more rich while the rest of us have gotten poorer
 
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Jul 2014
15,659
9,761
massachusetts
It's more than that, the debt is being generated by tax cuts for the wealthy, which does nothing for the economy.
The claim is that the economy is unbelievavbly strong, we are spending a trillion on stimulus.
To generate T-Notes, which get purchased with the tax cut money, No jobs, no investments, just debt.
 
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Reactions: noonereal
Jul 2019
8,023
4,883
Georgia
the deficit is up 77% since 2015

projected to rise to approx $1T/year
 
Dec 2018
2,616
1,607
Unionville Indiana
I'm sorry, Dems screaming about deficits while proposing tens or hundreds of trillions in entitlements always makes me chuckle.

I thought this thread was satire.
Yeah, yeah. Never mind that Republicans have held the House, Senate and the WH for 24 of the last 31 months. If the tables were turned and the Dems had been in charge, your hypocritical GOP representatives would have been screaming bloody murder about the annual deficits. You want to raise more tax revenue? Well, then raise the top marginal tax rate.
 
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Reactions: leekohler2
Jul 2019
8,023
4,883
Georgia
I'm sorry, Dems screaming about deficits while proposing tens or hundreds of trillions in entitlements always makes me chuckle.

I thought this thread was satire. :)
economy always seems to do better under Dems. now why do you think that is, especially with all the alleged "entitlements"?