Feds collect record taxes through August, Dems prove they don’t know economics

[ColonelAngus]

Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit

Looks like Trump’s tax rate cuts didn’t result in reduced taxes collected....astonishing.

We still need to cut spending by a shitload.

(CNSNews.com) - The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.

 

[easyt65]

More jobs.
More people with jobs.
More people working.
More people paying taxes.

It's not 'rocket dcience'.

All they see is less Americans on Welfare, Unemployment, & Food Stamps, which means less Americans depending on the government, less Americans depending on THEM.

 

[ColonelAngus]

I think they actually KNOW it works to cut taxes, but they want people to HAVE to rely on the government for the votes.

They want people to suffer and be slaves to the government.

People who are self sufficient are typically conservative and want the government to leave them alone.

 

[petro]

The feds never had an income problem.
The problem is expenditures.

 

[ColonelAngus]

The feds never had an income problem.
The problem is expenditures.

I’d like to see a huge cut to Federal spending, like 25%across the board.

 

[MisterBeale]

I think they actually KNOW it works to cut taxes, but they want people to HAVE to rely on the government for the votes.

They want people to suffer and be slaves to the government.

People who are self sufficient are typically conservative and want the government to leave them alone.

If you let people out of prison, it puts the Warden and prison guards out of a job. . . .

 

[ColonelAngus]

I think they actually KNOW it works to cut taxes, but they want people to HAVE to rely on the government for the votes.

They want people to suffer and be slaves to the government.

People who are self sufficient are typically conservative and want the government to leave them alone.

If you let people out of prison, it puts the Warden and prison guards out of a job. . . .

They love that type of logic when it comes to the IRS.

If we have a flat tax, and abolish the IRS, what will those people do for a living?!

 

[my2¢]

From what I recall their beef was over the cut to the corporate tax rate.

 

[Brain357]

Have you seen the deficit?

 

[Brain357]

Only trumpers would applaud huge increases in the debt.

 

[TNHarley]

The feds never had an income problem.
The problem is expenditures.

I’d like to see a huge cut to Federal spending, like 25%across the board.

In the LEAST

 

[TNHarley]

Have you seen the deficit?

May be why he mentioned cutting spending?

 

[kyzr]

Obama added about $10-trillion to the Debt, and had the economy growing at about 1.8%, the dems have no room to whine about the Debt. Trump is trying to grow the economy at 3%. The hard pill to swallow will be to either cut spending (entitlements & defense) and/or raise taxes on the top rate.

The excrement hits the fan as the Fed raises rates and the interest on the Debt crowds out ALL spending....can Congress deal with reality?

 

[Harpy Eagle]

Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit

Looks like Trump’s tax rate cuts didn’t result in reduced taxes collected....astonishing.

We still need to cut spending by a shitload.

(CNSNews.com) - The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.

One again the Trump sheep prove they are brainless.

Since the tax cuts kicked in, revenue has been less than the previous year 6 out of the 8 months and for the total Jan-Aug is less than it was Jan-Aug of 2017. For the time period since the tax cuts kicked in we are 9,726,000,000 behind the same period in 2017.

This includes a record setting April that was fueled by people like me paying the remainder of their 2017 tax burden that was not covered by payroll deductions.


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[Care4all]

I think they actually KNOW it works to cut taxes, but they want people to HAVE to rely on the government for the votes.

They want people to suffer and be slaves to the government.

People who are self sufficient are typically conservative and want the government to leave them alone.

If you let people out of prison, it puts the Warden and prison guards out of a job. . . .

They love that type of logic when it comes to the IRS.

If we have a flat tax, and abolish the IRS, what will those people do for a living?!

How would that work out for businesses? If they can take no deductions for any of their expenses and just pay a flat tax on their gross sales/income, like us individuals.

Or are you just talking a flat tax for us peon individuals and the corporations can take all the deductions and credits and write offs, same as usual, and end up paying near zero if not zero?

 

[Care4all]

Obama had the GREAT RECESSION and a 1.4 trillion dollar running deficit he inherited from Bush 2.

Trump has according to him, the BEST Economy that ever existed and his deficits have GROWN tremendously and this year's will be the largest deficit this country has ever had since the Great recession.....

right wingers have no idea what it is to be fiscally responsible or to handle a budget.... they spend like drunken sailors while giving tax cuts primarily for the very wealthiest. Bush 2 did the same thing....

Oh, and CNS is not news, they never have been news.... and should never be used as a source.

 

[Harpy Eagle]

Obama had the GREAT RECESSION and a 1.4 trillion dollar running deficit he inherited from Bush 2.

Trump has according to him, the BEST Economy that ever existed and his deficits have GROWN tremendously and this year's will be the largest deficit this country has ever had since the Great recession.....

right wingers have no idea what it is to be fiscally responsible or to handle a budget.... they spend like drunken sailors while giving tax cuts primarily for the very wealthiest. Bush 2 did the same thing....

Oh, and CNS is not news, they never have been news.... and should never be used as a source.

Not a single right winger will come back to this thread and post now that I have shown revenue has dropped since the tax cuts. They will pretend this thread does not exist


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[Crepitus]

Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit

Looks like Trump’s tax rate cuts didn’t result in reduced taxes collected....astonishing.

We still need to cut spending by a shitload.

(CNSNews.com) - The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.

Lol, an increase of $60 billion.

A deficit of $900 billion.

Wanna do that math?

Oh, and CSN isn't news, it's propaganda so I doubt the numbers are real anyway.

 

[Harpy Eagle]

Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit

Looks like Trump’s tax rate cuts didn’t result in reduced taxes collected....astonishing.

We still need to cut spending by a shitload.

(CNSNews.com) - The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.

Lol, an increase of $60 billion.

A deficit of $900 billion.

Wanna do that math?

Oh, and CSN isn't news, it's propaganda so I doubt the numbers are real anyway.

The numbers are real, but they leave out the fact that the first 3 months of the FY were under the old tax rates. Since the change we are in the red compared to last year


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[Lesh]

From the link in the OP

Yet even while the federal government was hauling in a record amount in income taxes from individuals, corporation income tax collections and total federal tax collections were declining.

Oh...