Federal Tax Revenue Sets New Record in October, Revenue Higher This Year Than Last Year

[ColonelAngus]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

I appreciate your response, sincerely, and there MAY be something beyond THE TAX CUTS, but from I see, the cuts allowed corporations to reinvest and expand IN SOME CASES.

The only way to collect MORE taxes on LOWER TAX RATES is if PROFITS INCREASED.

Not the only way. It certainly is one of the ways.

The most common way. Sorry about the Superlative.

You could just voluntarily send in more or be paying back taxes.

 

[ColonelAngus]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

I appreciate your response, sincerely, and there MAY be something beyond THE TAX CUTS, but from I see, the cuts allowed corporations to reinvest and expand IN SOME CASES.

The only way to collect MORE taxes on LOWER TAX RATES is if PROFITS INCREASED.

Several companies moved billions from tax exempt offshore accounts back into the US after the tax cuts.

SO it could be a windfall from those taxes collected. Got it. That makes sense.

 

[Darkwind]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

Time for Trump to say FU and reset the budget to zero. Then have each cabinet member justify every dollar requested.

Actually, one of the few things he has done that I really agree with is his demand to cut 5% from each department. I would have gone with 8 to 10, but right now, any reduction in actual spending is a win. His last budget was a disaster.

 

[Darkwind]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

Why would I do that? I support the tax cuts AND any spending cuts.

I appreciate your response, sincerely, and there MAY be something beyond THE TAX CUTS, but from I see, the cuts allowed corporations to reinvest and expand IN SOME CASES.

The only way to collect MORE taxes on LOWER TAX RATES is if PROFITS INCREASED.

Not the only way. It certainly is one of the ways.

The most common way. Sorry about the Superlative.

You could just voluntarily send in more or be paying back taxes.

 

[ColonelAngus]

The left wing narrative was that we could collect LESS taxes as a result of a tax rate cut.

That doesnt seem to be happening, it was simply a bullshit political talking point.

 

[Flash]

The absolute best thing for debt is to cut back on spending. That is a no brainer but no President or Congress in my life time has had the courage to do the right thing.

The next best thing is to do what Trump is doing now (and what Reagan did) is grow the economy so that government revenue increases.

The only problem with that is every time that has been done the stupid politicians uses the increased revenue for increased spending. Hopefully Trump won't do that.

The absolute worst thing to do is like those dumbass Democrats always do and that is forget about the debt but just increase taxes and increase spending and say to hell with the consequences. They do that even when increased taxes and increased spending has negative or damping effects on the economy. Just ask that Obama asshole about his increased taxes, tremendous debt, increased poverty, decreased family income and that dismal economic growth.

 

[deanrd]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

Business was already breaking records.

Only the greedy think of cutting taxes when corporations have so much money they have to figure out ways to spend it. And only minions follow such policies that are so obviously ridiculous.

 

[AntonToo]

Here is our revenues on tax-cuts:

Oct 18 +$14B
Nov 18 +$8B
Dec 18 +$7B
Jan 18 +$17B
<<<<<TAX-CUTS PHASED IN
Feb 18 -$16B
March 18 -$6B
April 18 +55B (2017 tax settlements)
May 18 -$23B
June 18 -$32B
July 18 -$7B
August 18 -$7B
Sep 18 -$5B
Oct 19 +$17B

Monthly Treasury Statement

So after ~$170 billion revenue lost (compared to normal revenue growth) in the months since tax cuts we've finally managed to grow revenue all of $3B faster in October, the first month of FY2019.

 

[ColonelAngus]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

Business was already breaking records.

Only the greedy think of cutting taxes when corporations have so much money they have to figure out ways to spend it. And only minions follow such policies that are so obviously ridiculous.

Just awesome.

Again, you didnt explain how a 14% tax cut DOUBLED the amount of tax collected.

Just explain the math, straight up. Walk us through it.

 

[Oddball]

Business was already breaking records.

Only the greedy think of cutting taxes when corporations have so much money they have to figure out ways to spend it. And only minions follow such policies that are so obviously ridiculous.

How does it happen that people who want to keep what they earn are "greedy", but rapacious little looters like you aren't?

 

[ColonelAngus]

Imagine that, cut Corporate taxes....BUSINESS EXPANDS....GROW THE ECONOMY....BUSINESSES MAKE MORE MONEY.....THE GOVERMENT COLLECTS MORE IN TAXES.


FUCKING FASCINATING.

 

[ColonelAngus]

Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000.

Fucking CVNT Congress.

They control the spending. They need to reduce the debt.

If you dont believe me, LISTEN TO THIS GUY:

 

[depotoo]

Spending will be up due to both hurricane Florenc, Michael and the fires in CA. They have been unprecedented.

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

Time for Trump to say FU and reset the budget to zero. Then have each cabinet member justify every dollar requested.

Actually, one of the few things he has done that I really agree with is his demand to cut 5% from each department. I would have gone with 8 to 10, but right now, any reduction in actual spending is a win. His last budget was a disaster.

 

[AntonToo]

Imagine that, cut Corporate taxes....BUSINESS EXPANDS....GROW THE ECONOMY....BUSINESSES MAKE MORE MONEY.....THE GOVERMENT COLLECTS MORE IN TAXES.


FUCKING FASCINATING.

Facinating is how fucking hopped up on coolaid you have to be to belive that nonsence.

Tax-cut grow economy, but that offsets only a small fraction of the upfront revenue loss.

 

[ColonelAngus]

Imagine that, cut Corporate taxes....BUSINESS EXPANDS....GROW THE ECONOMY....BUSINESSES MAKE MORE MONEY.....THE GOVERMENT COLLECTS MORE IN TAXES.


FUCKING FASCINATING.

Facinating is how fucking hopped up on coolaid you have to be to belive that nonsence.

Tax-cut grow economy, but that offsets only a small fraction of the upfront revenue loss.

Whats the ideal corporate tax rate and why? Specifically

 

[Harpy Eagle]

The left wing narrative was that we could collect LESS taxes as a result of a tax rate cut.

That doesnt seem to be happening, it was simply a bullshit political talking point.

It is happening, I posted the actual numbers already


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[jc456]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

That was precisely his point. More revenue with lower tax rates meant more tax money . And, more employees paying in as well. Win, win

 

[ColonelAngus]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

That was precisely his point. More revenue with lower tax rates meant more tax money . And, more employees paying in as well. Win, win

Liberals seem to miss the employee side of the equation.

MORE PEOPLE IN THE USA WORKING MEANS MORE TAXES COLLECTED AND LESS WELFARE TO PAY OUT.

TRIPLE WIN.

We have revenue going in the right direction, NOW LETS CUT SPENDING.

Why cant libs cut spending?

 

[AntonToo]

Imagine that, cut Corporate taxes....BUSINESS EXPANDS....GROW THE ECONOMY....BUSINESSES MAKE MORE MONEY.....THE GOVERMENT COLLECTS MORE IN TAXES.


FUCKING FASCINATING.

Facinating is how fucking hopped up on coolaid you have to be to belive that nonsence.

Tax-cut grow economy, but that offsets only a small fraction of the upfront revenue loss.

Whats the ideal corporate tax rate and why? Specifically

...ideal FOR WHAT? Fed Revenue maximization?

It's not simply tax rates, it is EFFECTIVE tax rates, many companies get away with paying next to nothing and the new tax-cuts did worse than NOTHING to address any of the loopholes in the system.

 

[Harpy Eagle]

Feds Collect Record Taxes in October; Still Run $100B Deficit

Yet Deficit increased because of SPENDING.

WE DO NOT HAVE A TAX PROBLEM, WE HAVE A SPENDING PROBLEM.


How did corporate taxes double YOY, yet Trump cut corporate tax rates?

LIBERALS LIE. They said Trump gave tax breaks to rich corportations.


THEY DOUBLED IN WHAT THEY PAID.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

You are correct, we have a spending problem.

However, I think that when you dig into the numbers you'll find that the reasons are not precisely what you think.

I haven't looked into the numbers, but it strikes Me that of those corporations that existed in 2017 paying taxes paid less in taxes. The increase in tax revenue is likely due to the environment of lower taxes in the country as a whole and that we have more Corporate tax revenue because we have more corporations.

That too is a win.

So, I would look at the number of new business/corporation formation in the US in the period of Oct 17 to Oct 18.

That was precisely his point. More revenue with lower tax rates meant more tax money . And, more employees paying in as well. Win, win

Liberals seem to miss the employee side of the equation.

MORE PEOPLE IN THE USA WORKING MEANS MORE TAXES COLLECTED AND LESS WELFARE TO PAY OUT.

TRIPLE WIN.

We have revenue going in the right direction, NOW LETS CUT SPENDING.

Why cant libs cut spending?

Why can’t Pubs cut spending? They hold all the power right now


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