Income Tax Revenues Are Up 9% This Year — Is Trump Tax Cut Paying For Itself?

[dcbl]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

 

[BluesLegend]

But but but...but there I replied for the left.

 

[Lakhota]

Thank you President Obama!

 

[Moonglow]

Taxes are up because the govt always, always raises taxes when they give a tax cut, it's slight of hand trick.
Tariffs=another raise in taxes

 

[Dont Taz Me Bro]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

Not at the rate they are spending money

 

[Moonglow]

Now how much is the debt? Is that increased revenue offsetting the increased spending and borrowing?

Fuck no...So much fer wttin' yer pants by winning...

 

[BluesLegend]

Cue the sour puss liberal responses.

 

[basquebromance]

complexity favors the wealthy, because they can hire lawyers and accountants. we need to simplify the tax code!

 

[Moonglow]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

Not at the rate they are spending money

Do you understand that involves a complex mathematical addition and subtraction problem for some that never go there?

 

[BluesLegend]

Already one liberal clown credits Obama

 

[dcbl]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

Not at the rate they are spending money

that is one area I remain disappointed in...

 

[TheOldSchool]

Taxes are up because the govt always, always raises taxes when they give a tax cut, it's slight of hand trick.
Tariffs=another raise in taxes

I've been wondering if the tariff trick is a means for Trump to take more money from the middle and lower classes, and snickering behind closed doors that his peasant base applauds it. Certainly, it's not the rich who will feel the weight of the tariffs.

 

[BluesLegend]

complexity favors the wealthy, because they can hire lawyers and accountants. we need to simplify the tax code!

90% of filers will file the short form under Trump's tax reform bill.

 

[Moonglow]

complexity favors the wealthy, because they can hire lawyers and accountants. we need to simplify the tax code!

I enjoy the loopholes and rebates...That way I never have to actually pay anything but SS and the govt. pays 1/2 of that..Sweet..

 

[rightwinger]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

Then why is the deficit increasing?

 

[TheOldSchool]

yes they are, just like we said they would

nothing to see here folks, move along

apocalypse incoming with Trump SCOTUS nominee, literally millions will DIE

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain "largely reflects increases in wages and salaries."

For the fiscal year as a whole — which started last October — all federal revenues are up by $31 billion. That's a 1.2% in increase over last year, the CBO says.

The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

Much of the tax revenue is under the old tax plan. The new tax plan began in February, the fiscal year began in October. Trump's plan will balloon the deficit despite him being handed a strong economy.

 

[BluesLegend]

Taxes are up because the govt always, always raises taxes when they give a tax cut, it's slight of hand trick.
Tariffs=another raise in taxes

I've been wondering if the tariff trick is a means for Trump to take more money from the middle and lower classes, and snickering behind closed doors that his peasant base applauds it. Certainly, it's not the rich who will feel the weight of the tariffs.

Yes that was our plan all along, Russia is helping us and we put mind control chems in the water supply.

 

[Moonglow]

complexity favors the wealthy, because they can hire lawyers and accountants. we need to simplify the tax code!

90% of filers will file the short form under Trump's tax reform bill.

Yes because there is no need to itemize since it's for the wealthy..You know like for the Romney's who use a tax deduction for their Olympic competition horses?

 

[TheOldSchool]

Taxes are up because the govt always, always raises taxes when they give a tax cut, it's slight of hand trick.
Tariffs=another raise in taxes

I've been wondering if the tariff trick is a means for Trump to take more money from the middle and lower classes, and snickering behind closed doors that his peasant base applauds it. Certainly, it's not the rich who will feel the weight of the tariffs.

Yes that was our plan all along, Russia is helping us and we put mind control chems in the water supply.

I've seen you retards believe stupider things. I can't tell if you're being sarcastic anymore.

 

[Moonglow]

Taxes are up because the govt always, always raises taxes when they give a tax cut, it's slight of hand trick.
Tariffs=another raise in taxes

I've been wondering if the tariff trick is a means for Trump to take more money from the middle and lower classes, and snickering behind closed doors that his peasant base applauds it. Certainly, it's not the rich who will feel the weight of the tariffs.

Yes that was our plan all along, Russia is helping us and we put mind control chems in the water supply.

You ain't jack so you don't know jack...