Are Trump's Tax Cuts Paying For Themselves?

GURPS

GURPS

INGSOC
PREMO Member
According to the report, the government took in $238.2 billion in taxes in February. The year before, tax revenues were $236.8 billion.

For fiscal year 2018, which started last October, taxes are up $50.5 billion compared with the same months last year, and are at a record high level for this five-month span.

The report does show that net receipts were lower in February compared with last year, but the main reason is that individual income tax refunds jumped $13.3 billion, while corporate tax refunds went up $4 billion, neither of which is the result of the tax cuts that took effect in January.

Even so, net receipts are up by $29.6 billion for the current fiscal year — a 2.4% increase — compared with the same period last year. That's also a record high.


Federal Tax Revenues Hit Record Highs — Are Trump's Tax Cuts Paying For Themselves?


Gil Hold My Beer ......... :oldman:
 
T

transporter

Well-Known Member
Kinda helps if you read the WHOLE article...here is the very next paragraph in the article.

Does this mean tax cuts are "paying for themselves"?

Not exactly. Income taxes collected in February were down $2.5 billion from last year — reflecting the new withholding tables. Corporate income tax collections, however, were essentially flat.
Click to expand...

We all know you two aren't very bright...how many times does it have to be stated that tax revenues are always highest in the first couple months of a year?? Corps, individuals are paying taxes dues on LAST YEAR's income...that is where the influx comes from in Jan and Feb. This is the exact same explanation as we given last year with Malice and GURPS were claiming Trump had reduced the deficit after 20 days in office.

This is the typical binary thinking on display here. If, as you two want to argue, the tax cuts have led to a massively stronger economy in February, could you please explain why the retail spending report that was released this morning showed a DROP in retail sales???
 
You must log in or register to reply here.
Top