healthmyths
Diamond Member
- Sep 19, 2011
- 30,119
- 11,556
- 1,400
I am 100% confident that any politician including GOPs would agree with this statement!
If consumers have more money to spend, goods and services would increase. Simple fact.
So if consumers had more money because they didn't have to pay income taxes on tips and overtime, that simply would mean:
1) More money to spend for goods and services.
2) Businesses would have more revenue to pay taxes for.
Very simple people.
NOW for Facts:
The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following
implementation of the law.
If consumers have more money to spend, goods and services would increase. Simple fact.
So if consumers had more money because they didn't have to pay income taxes on tips and overtime, that simply would mean:
1) More money to spend for goods and services.
2) Businesses would have more revenue to pay taxes for.
Very simple people.
NOW for Facts:
The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following
implementation of the law.

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee
The Official U.S. Congressional website of The Republican Budget Committee
budget.house.gov