This_person
Well-Known Member
Now, to cut the spending since tax cuts raised revenues (as we knew it would).
As we knew, tax cuts raise revenues
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Now, to cut the spending since tax cuts raised revenues (as we knew it would).
That can't be true. I'm sure someone will be along shortly to explain it to us.
This_person
Well-Known Member
See, it's all about the economy, and it's stunningly obvious we're too dumb to understand, but …. tax revenue should have gone up a lot more, see, and so the increase in revenue to the treasury is actually a loss because it should have been a bigger increase. Or, something like that.
BOP
Well-Known Member
transporter
Well-Known Member
Yeah...Toilet_Paper, that is a pretty apt summary.
Tax revenue would have gone up more absent the cut. It is elementary school math. It really isn't that hard to understand now is it?
Oh maybe it is....because no the increase isn't a loss...that's a pretty stupid statement...
The deficit IS higher because the lost tax revenue that did not come in because of the tax cuts is real. The REALLY stupid part was magnifying the problem by adding a large spending increase on top of tax cuts. See this is where people like you get lost...the equation reaches into middle and high school level "critical thinking skills"....and that's just too far outside your capabilities.
It is kinda odd that you go fishing to have someone else point out how stupid you are. Most people don't want that information made public. But that is why you all are the ignorati!!
transporter
Well-Known Member
And let's just keep going..
Did any of you bother to read the CBO report referenced in the article? No? Shocking!!!
The largest dollar increase in tax receipts was in Social Insurace (Social Security, Medicare, Medicaid). These taxes were not impacted by the tax cuts. The dollar increase here was $72B....more than twice the level of income tax increases at $34B.
As a share of GDP, income tax receipts fell.
Revenue from corps increased by $26B. As a share of GDP corp revenue
As for outlays:
*
*
Again for those who can't add: $115B + $52B = $167B
And for those who don't understand relationships...$167B is more than $133B
So the built in gain from MANDATORY spending (old people and interest on the debt) was larger than the gain in revenue. The gain in revenue was reduced by the tax cuts. Therefore just using the MANDATORY spending increases....not looking at anything else...the tax cuts increased the deficit.
Now...and this will really fry your little noodles....we picked up $133B of additional revenue curing a time when the tax cuts were having a small positive impact on GDP growth. That period is now over. What do you Mensa candidates think will happen going forward?
Did any of you bother to read the CBO report referenced in the article? No? Shocking!!!
The largest dollar increase in tax receipts was in Social Insurace (Social Security, Medicare, Medicaid). These taxes were not impacted by the tax cuts. The dollar increase here was $72B....more than twice the level of income tax increases at $34B.
As a share of GDP, income tax receipts fell.
Revenue from corps increased by $26B. As a share of GDP corp revenue
As for outlays:
*
(for those who can't add, that's $115B)
*
Again for those who can't add: $115B + $52B = $167B
And for those who don't understand relationships...$167B is more than $133B
So the built in gain from MANDATORY spending (old people and interest on the debt) was larger than the gain in revenue. The gain in revenue was reduced by the tax cuts. Therefore just using the MANDATORY spending increases....not looking at anything else...the tax cuts increased the deficit.
Now...and this will really fry your little noodles....we picked up $133B of additional revenue curing a time when the tax cuts were having a small positive impact on GDP growth. That period is now over. What do you Mensa candidates think will happen going forward?
This_person
Well-Known Member
I knew that would be your argument. You refuse to accept that the economy improved much more dramatically because of the tax cuts, thus the increase in tax revenue despite the cuts. Maintaining even higher taxes would have resulted in the same or lower tax revenue, not the increase.Yeah...Toilet_Paper, that is a pretty apt summary.
Tax revenue would have gone up more absent the cut. It is elementary school math. It really isn't that hard to understand now is it?
Oh maybe it is....because no the increase isn't a loss...that's a pretty stupid statement...
The deficit IS higher because the lost tax revenue that did not come in because of the tax cuts is real. The REALLY stupid part was magnifying the problem by adding a large spending increase on top of tax cuts. See this is where people like you get lost...the equation reaches into middle and high school level "critical thinking skills"....and that's just too far outside your capabilities.
It is kinda odd that you go fishing to have someone else point out how stupid you are. Most people don't want that information made public. But that is why you all are the ignorati!!
You're right that there should have been spending cuts, too. However, it didn't pass Congress.
BOP
Well-Known Member