Does GDP growth mean Federal Tax revenue growth?

[healthmyths]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!

 

[Moonglow]

It also increases debt and deficits because the people in Congress won't control spending..

 

[healthmyths]

It also increases debt and deficits because the people in Congress won't control spending..

Where were you in 2009 to 2016 when Obama increased the debt by $9 trillion and how?
Remember he had TARP to help overcome the housing bubble. And it was paid back with interest.
What events did Obama have? Did he have the worst hurricane SEASONS in history? Did he have ANY events that affected our economy, our psyche like 9/11 or the anthrax attacks or the 9/18/08 economic attack that saw nearly 1/2 Trillion dollars withdrawn in less then 3 hours from our economy?
What did he spend it on?
The Budget and Accounting Act of 1921 requires the President to submit his budget request for the upcoming fiscal year no later than the first Monday of February. Earlier this week, the Obama administration announced that for the third time in four years it will not adhere to this legal deadline.
President Obama’s Missed Budget Deadlines - House Budget Committee
Really such poor management of the economy, the federal government by a community organizer and no one other than people that paid attention seemed to care!

 

[BluesLegend]

You Dem's should just increase taxes to 99% we all know you want to you communist pukes. You want to see your average Dem shit themselves, ask them to pick a number, just how high should be taxes raised.

 

[Timmy]

Obama has no major events !?

Great Recession ring a bell? Did the two wars stop during his years ?

 

[Brain357]

Obama has no major events !?

Great Recession ring a bell? Did the two wars stop during his years ?

Obama inherited problems, Bush created them.

 

[Wyatt earp]

Obama has no major events !?

Great Recession ring a bell? Did the two wars stop during his years ?

Did the two wars stop?


If they did where was I?

 

[Brain357]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!
View attachment 176064

When has the deficit ever gone down after tax cuts? Has it occurred to you that lots of government spending would increase revenue? Those companies making all that military gear do pay taxes...

 

[Brain357]

And the repubs just passed lots more spending....

 

[Timmy]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!
View attachment 176064

When has the deficit ever gone down after tax cuts? Has it occurred to you that lots of government spending would increase revenue? Those companies making all that military gear do pay taxes...

The taxes they pay don’t equal the cost of the military gear .

It’s simple . When u have a recession you get the double whammy if less tax revenue and a higher demand for government services .

 

[Moonglow]

And the repubs just passed lots more spending....

They're pretending to be democrats..

 

[Rexx Taylor]

And the repubs just passed lots more spending....

They're pretending to be democrats..

Although 8 trillion went into stocks, we could use another 20 Trillion invested into the DOW to really put a dent in the Obama 20 Trillion Dollah debt

 

[my2¢]

I get feeling that Trump is a return to Reagan. Lower taxes, increase defense spending and give the Democrats a whole bunch of money for what they want.

 

[NYcarbineer]

Not necessarily. If you reduce taxes, you could get GDP growth but not enough to overcome the loss of revenue from the tax cuts.

 

[NYcarbineer]

If you lowered taxes to zero, would you get more or less revenue?

 

[Brain357]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!
View attachment 176064

When has the deficit ever gone down after tax cuts? Has it occurred to you that lots of government spending would increase revenue? Those companies making all that military gear do pay taxes...

The taxes they pay don’t equal the cost of the military gear .

It’s simple . When u have a recession you get the double whammy if less tax revenue and a higher demand for government services .

Which is why with a tax cut you can get increased revenue, but the deficits always increase too.

 

[danielpalos]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!
View attachment 176064

cutting taxes is not the Only way to increase gdp. The multiplier effects works with tax cuts or public sector spending on infrastructure.

Warfare-State spending is always less cost effective than welfare-State spending.

 

[Harpy Eagle]

I know, I know, it should seem to be common sense that the answer is a RESOUNDING YES!
But some tax cut critics keep complaining that Trump tax cuts will ruin our economy. Will add to the debt..something they didn't seem to care about when Obama added $9 trillion with no major events, 9/11 worst hurricanes, etc. that GWB experienced and Obama even had TARP repaid with a profit!
So here is a chart I made combining GDP with Federal Tax revenue.
Some observations points:
A) Kennedy's tax cuts didn't reduce revenue.
B) Please consider Inflation during the years 1978 through 1982 (averaged 10.5%)
C) Look at years in red GDP versus years in red Tax receipts.. and consider the time lag... i.e. when GDP decreases
people in the following years are laid off. Meaning NO federal payroll taxes, or personal income taxes WHILE at the same time unemployment and welfare outlays increase.

So given this chart wouldn't it also make sense that if the GDP grows as the Atlanta Fed Reserve predicts Q118
at over 5% Federal tax revenues i.e. more people working more payroll taxes less unemployment benefits less welfare payments outlay that there would be lower deficits adding to the national debt?
Talk amongst yourselves and comment!
View attachment 176064

If there is one thing this list proves, there is very little correlation between GDP and revenue growth.

 

[Aldo Raine]

It also increases debt and deficits because the people in Congress won't control spending..

And here really is the biggest problem.

 

[Brain357]

The GOP just passed lots of spending. Guess they don't want to see decreased revenue from the tax cuts...