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

[Mikeoxenormous]

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

The "financial experts" I always have issues with that term as "Experts" always under estimate or over estimate, all the time, but I digress, are predicting for the first time in US history that this Christmas season can bring in over 1 trillion dollars of sales....

Report: US consumers are going to spend $1 trillion this Christmas for the first time

Unless the "Socialist Democrats" monkey it up for US...

What is the difference between beer nuts and reindeer nuts?

Beer nuts are around $2.00
Reindeer nuts are under a buck.

I like Beer Nuts.

I am very glad, I would be alarmed if you liked the other nuts......

 

[Admiral Rockwell Tory]

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

The "financial experts" I always have issues with that term as "Experts" always under estimate or over estimate, all the time, but I digress, are predicting for the first time in US history that this Christmas season can bring in over 1 trillion dollars of sales....

Report: US consumers are going to spend $1 trillion this Christmas for the first time

Unless the "Socialist Democrats" monkey it up for US...

What is the difference between beer nuts and reindeer nuts?

Beer nuts are around $2.00
Reindeer nuts are under a buck.

I like Beer Nuts.

If you keep eating all the beer nuts, we will run out of little beers eventually!

 

[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).

 

[bendog]

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).

Your "link" shows Apr 17 as being the highest.

 

[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).

Your "link" shows Apr 17 as being the highest.

I read October over October?

 

[ColonelAngus]

April 17 is a record for October?

HOw did Corporate taxes double YOY in October with the tax cut?

Liberals said it was a tax break for Rich Coorporations.

Explain that

 

[bendog]

You lied that Oct was a record. That's not my fault. Suck it.

 

[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).

And even with that "record", tax revenue went down since the tax cut was passed as compared to the previous year.


Monthly Treasury Statement


Between Jan and Oct of 2017 total tax revenue was $2,809,463,000,000

Between Jan and Oct of 2018 total tax revenue was $2,802,925,000,000

 

[ColonelAngus]

Corporate taxes in October 2017: Less than $4 B

Ocotober 2018: $8 Billion


ON A LOWER RATE.

Please explain that liberals.

 

[ColonelAngus]

You lied that Oct was a record. That's not my fault. Suck it.

I pasted the link.

Explain why Corporate taxes doubled Oct 17 to OCt 18 AFTER THE TRUMP CORPORATE TAX CUT

 

[jc456]

You lied that Oct was a record. That's not my fault. Suck it.

well actually he said october over october. And corporate taxes at that. just saying, maybe you didn't read his OP right? maybe? No integrity eh?

 

[ColonelAngus]

CORPORATE TAX RATE IN OCTOBER 2017: 35%
CORPORATE TAX RATE IN OCTOBER 2018: 21%

CORPORATE TAXES COLLECTED IN OCTOBER 2017: $3.8B
CORPORATE TAXES COLLECTES IN OCTOBER 2018: $8B

Liberals, please explain how that is possible. You told everyone it WOULD NOT, so lets hear the explanation.

 

[ColonelAngus]

You lied that Oct was a record. That's not my fault. Suck it.

CORPORATE TAX RATE IN OCTOBER 2017: 35%
CORPORATE TAX RATE IN OCTOBER 2018: 21%

CORPORATE TAXES COLLECTED IN OCTOBER 2017: $3.8B
CORPORATE TAXES COLLECTED IN OCTOBER 2018: $8B

Please explain how that is possible.

 

[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.

 

[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.

 

[Weatherman2020]

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.

 

[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.

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.

 

[Oddball]

I hate this....Gubmint already has too much money.

 

[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).

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

ZERO BASED BUDGETING FOR THE GOVENMENT.

I FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCKING LOVE IT.

 

[Weatherman2020]

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.