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

[peach174]

It proves that conservative ideology in Corp. Taxes works.
Lower taxes more growth, means more gov. revenue.
The Dems don't seem able to get this fact.

 

[AntonToo]

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

NOT WHEN ITS FINANCED BY DEFICITS UPFRONT.

 

[Lakhota]

But deficit and national debt explode.

 

[AntonToo]

It proves that conservative ideology in Corp. Taxes works.
Lower taxes more growth, means more gov. revenue.
The Dems don't seem able to get this fact.

No it doesn't.

Corporate tax revenues have been in the shitter ever since the law went into effect. But now we get one lone month of revenue growth and you think that proves something?

 

[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

...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.

You twats said taxes collected would drop. THEY DID NOT.

It was a BULLSHIT NARRATIVE to gin up your retard base.

 

[Dragonlady]

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.

You twats said taxes collected would drop. THEY DID NOT.

It was a BULLSHIT NARRATIVE to gin up your retard base.

The did drop. They are lower for the year overall, you dolt. In one month they're higher, but for the other 9 months they're less, a LOT less. And the spending is a lot higher.

 

[peach174]

It proves that conservative ideology in Corp. Taxes works.
Lower taxes more growth, means more gov. revenue.
The Dems don't seem able to get this fact.

No it doesn't.

Corporate tax revenues have been in the shitter ever since the law whent into effect. But now we get one lone month of revenue growth and you think that proves something?

Yes it does.
Over all individual income taxes are up by 5%
FICA taxes by 3%
Excuse taxes by 13%
the government did better on revenues and deficits in the year after Trump's tax cuts went into effect than it did in Obama's last year in office.
Now spending has to be cut.
That's where the problem of both parties are who won't get together and do it.

 

[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

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 repubs?

 

[jc456]

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.

leave it to a looney left to miss that the corporation tax revenues increased. isn't that what you all wanted? As did I.

 

[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

Liberals seem to miss the employee side of the equation.

MORE PEOPLE IN THE USA WORKING MEANS MORE TAXES COLLECTED

NOT WHEN ITS FINANCED BY DEFICITS UPFRONT.

spending. cut spending. why are you against that?

 

[jc456]

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.

You twats said taxes collected would drop. THEY DID NOT.

It was a BULLSHIT NARRATIVE to gin up your retard base.

The did drop. They are lower for the year overall, you dolt. In one month they're higher, but for the other 9 months they're less, a LOT less. And the spending is a lot higher.

let's see the numbers.

 

[kiwiman127]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

 

[jc456]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

there's that left math again. 5 is not greater than 4. funny.

 

[kiwiman127]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

there's that left math again. 5 is not greater than 4. funny.

Not one fact to dispute my post. None, nothing, zippo!

About my resource:
The Committee for a Responsible Federal Budget (CRFB) is an independent, non-profit, bipartisan public policy organization based in Washington, D.C. that addresses federal budget and fiscal issues. It was founded in 1981 by former United States Representatives Robert Giaimo (D-CT) and Henry Bellmon (R-OK), and its board of directors includes former Members of Congress and directors of the Office of Management and Budget, the Congressional Budget Office and the Federal Reserve.[2]
Committee for a Responsible Federal Budget - Wikipedia

 

[jc456]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

there's that left math again. 5 is not greater than 4. funny.

Not one fact to dispute my post. None, nothing, zippo!

About my resource:
The Committee for a Responsible Federal Budget (CRFB) is an independent, non-profit, bipartisan public policy organization based in Washington, D.C. that addresses federal budget and fiscal issues. It was founded in 1981 by former United States Representatives Robert Giaimo (D-CT) and Henry Bellmon (R-OK), and its board of directors includes former Members of Congress and directors of the Office of Management and Budget, the Congressional Budget Office and the Federal Reserve.[2]
Committee for a Responsible Federal Budget - Wikipedia

well you said there wasn't more revenue coming in and there is. not sure how else to tell you that when something is greater than, it's more than. 5 is greater than 4.

 

[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.

You twats said taxes collected would drop. THEY DID NOT.

It was a BULLSHIT NARRATIVE to gin up your retard base.

Dumbass, did you not fucking see the breakdown of revenues since tax-cuts began?

ABSOLUTELY REVENUES DROPPED, even more so when you appropriately adjust for normal expected revenue growth from not-tax-cut economic growth and inflation.

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.

 

[AntonToo]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

What the hell does "first 11 months" have to do with measuriing tax-cut effect that went into effect since February 2018 (which was 6th month of the 2018 fiscal year)?

 

[edward37]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

there's that left math again. 5 is not greater than 4. funny.

Even a broken clock is right twice a day Congrats on Oct

 

[kiwiman127]

The federal government collected record taxes in October, breaking the previous record for taxes collected in the month of October. Gee, liberals swore to us that tax revenue would drop because of the Trump tax cuts.

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

In fact, federal revenue was higher for FY 2018 than it was for FY 2017:

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

Opinion | Tax Revenues Are Higher

Ahh, no!
Kudlow's claim that revenue has increased is based on the Congressional Budget Office's (CBO) most recent Monthly Budget Review, which shows that total federal tax revenue is 0.6 percent higher in the first 11 months of FY 2018 (October through August) than in the first 11 months of FY 2017. However, this nominal increase is well below the rate of inflation – meaning that the value of revenue collection has actually declined in real terms.
No, Really, Tax Revenue Has Not Risen

there's that left math again. 5 is not greater than 4. funny.

Not one fact to dispute my post. None, nothing, zippo!

About my resource:
The Committee for a Responsible Federal Budget (CRFB) is an independent, non-profit, bipartisan public policy organization based in Washington, D.C. that addresses federal budget and fiscal issues. It was founded in 1981 by former United States Representatives Robert Giaimo (D-CT) and Henry Bellmon (R-OK), and its board of directors includes former Members of Congress and directors of the Office of Management and Budget, the Congressional Budget Office and the Federal Reserve.[2]
Committee for a Responsible Federal Budget - Wikipedia

well you said there wasn't more revenue coming in and there is. not sure how else to tell you that when something is greater than, it's more than. 5 is greater than 4.

I see you don't understand inflation.

.
in·fla·tion
/inˈflāSH(ə)n/
noun
noun: inflation

1. 1.
   the action of inflating something or the condition of being inflated.
   "the inflation of a balloon"
   • Astronomy
     (in some theories of cosmology) a very brief exponential expansion of the universe postulated to have interrupted the standard linear expansion shortly after the Big Bang.
2. 2.
   Economics
   a general increase in prices and fall in the purchasing value of money.
   "policies aimed at controlling inflation"

 

[peach174]

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.

You twats said taxes collected would drop. THEY DID NOT.

It was a BULLSHIT NARRATIVE to gin up your retard base.

Dumbass, did you not fucking see the breakdown of revenues since tax-cuts began?

ABSOLUTELY REVENUES DROPPED, even more so when you apropreately adjust for notmal expected revenue growth from not-tax-cut economic growth and inflation.

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.

You're ignoring the increase of production and imports.