Corporate Tax Revenue Came In 31% Below Predictions, And It's Getting Worse

Discussion in 'Economy' started by skews13, Jun 15, 2019.

  1. skews13
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    skews13 Gold Member

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    Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.
    The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.

    Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

    Big businesses paying even less than expected under GOP tax law


    But the frightening thing is that, despite all the sugar Trump and the Republicans have poured into the system, dark clouds continue to gather on the horizon. The economy looks set to slide into a recession with interest rates near record lows and corporations already basking in gifts even bigger than predicted. Any “stimulus” that happens to pull the U.S. out of this one, isn’t going to come through tax breaks for corporations. That well is already dry.
     
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  2. Oddball
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    Oddball Unobtanium Member Supporting Member

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    Time to slash spending.
     
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  3. BluesLegend
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    BluesLegend Diamond Member

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    The OP's head just exploded. lol
     
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  4. BluesLegend
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    BluesLegend Diamond Member

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    That's awesome! Now that the tax cuts are locked in next we need to boot all the deadbeat mooching losers off welfare and cut spending.
     
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  5. bear513
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    bear513 Diamond Member

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    What else is new the OP doesn't read his own link.



    .
     
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  6. Ambivalent1
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    Ambivalent1 BANNED

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    Skewsy never learns, apparently he is above the rules.
     
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  7. Tipsycatlover
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    Tipsycatlover Platinum Member

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    Less money for refugee assistance.
     
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  8. Ambivalent1
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    Ambivalent1 BANNED

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    He never does, if kos says it skewsy believes it. He is used to being on a board where the Mod protects him.
     
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  9. Pete7469
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    Pete7469 Gold Member

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    So people kept money in their pockets....

    Only a libturd parasite could find a problem there.


    .
     
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  10. progressive hunter
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    progressive hunter Gold Member

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    GOOD NEWS,,,

    anytime a person or company gets to keep more of their own money and the government gets less is a good thing,,
     
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