Tax cut benefits

[Thinker101]

Well except for the fact the cuts had not been implemented till at best till then end of the month it is hard to tie them to the increase in revenue, which rally was not all that great. Last Jan saw a larger percent of growth


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Hope you let them know at CBS.
Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January

you posted a link from CNS which is not CBS????

/----/ Is the Daily wire acceptable? Don't expect this on CNN. TRUMPONOMICS: Tax Revenues Up Big After GOP Tax Cut
The [CBO report] says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.


only for one more year.

you're exactly right! It's called balance, once the salaries level off, then the interest rates and inflation will go up nullifying the increases, and then it will be necessary to start that entire process all over again. It's circular. You should know this in order to talk about it.

You should also know that a business will never pay taxes, they will use profits to pay and increase cost of goods to make up that tax money from their take.

And here I was hoping revenue went up because liberals were returning the money received from tax cuts...LOL.

 

[Rustic]

/——/ Debunked a 100 times

I gave the data. Try and show my math is wrong or you can kiss my ass also. You can stick your head up Trumps ass as far as it will go and that still will not change the cold hard facts


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/——/ Like a ping pong ball tossed against a brick wall, facts can not penetrate a libtards closed mind. So for the 101st time since 2002: Tax Cuts Increase Federal Revenues

Typical fucking zealot, would rather fall for a propaganda piece than look at the data for themselves. Always have to have someone else telling you what to think.

Lets look at the actual data, if you have the balls to do so.

Here are the actual numbers, not opinion, not propaganda, but pure, cold hard facts.

The 5 years leading up the Reagan tax cuts tax revenue increased at a rate of 15% per year. The 5 years after the tax cut revenue increased at a rate of 6%.

So, while it is true that revenue still went up, there is no denying it went up at a slower rate after the tax cuts. The numbers do not lie, even if you do.

Year	Tax Revenue in billions	Amount of change in billions	Percent of change
1977	356	+ 58	19%
1978	399	+ 43	12%
1979	463	+ 64	16%
1980	517	+ 54	12%
1981	599	+ 82	16%
1982	618	+ 19	3%
1983	601	- 17	-3%
1984	666	+ 65	11%
1985	734	+ 68	10%
1986	796	+ 62	8%

[TBODY] [/TBODY]

I am not going to build another table, but in the 5 years prior to the Bush II tax cut revenue increased at a rate of 7% per year and the 5 years after it increased at a rate of 4% per year.

The cold, hard fact that nobody on this forum can deny is that revenue increases slow after tax cuts, the numbers do not lie.

but more money/ revenue is received If I read your table correctly right?

Yes, more is received, what is slowed is the rate of growth at which it is received.

Let me ask you, would you rather your income grew at 15% or 6%?


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The federal government should have no say on anybody’s income because the bums have no credibility

 

[Rustic]

Hi taxes always destroy economies

 

[AntonToo]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

 

[jc456]

Hi taxes always destroy economies

I posted the unemployment per year, highs are always during hi taxes

 

[Cellblock2429]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/——/ The strong economy, increased hiring and the stock market all added to the revenue, Spanky.

 

[Harpy Eagle]

Hi taxes always destroy economies

I posted the unemployment per year, highs are always during hi taxes

Lying bastard, you did not post any information about the tax rate and did not show any correlation between the tax rate coming down and the unemployment rate.

 

[Harpy Eagle]

Feel free to offer some evidence that tax cuts lower unemployment


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are more folks now back at work? Are folks able to get jobs that are higher wage jobs in private sector vs government? answer to both is yes. Not sure your point, let's monitor it for a year and see. K?

Once again, I deal in facts and figures not opinions. I provide data to support my claims, is it too much to ask that you people do the same thing?


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the tax cuts just occurred, I will once a quarter or two goes by, k?

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


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Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

 

[Cellblock2429]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/-----/ The CBO says you lie like a rug:
"But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before." - Investors Business Daily.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

 

[Harpy Eagle]

are more folks now back at work? Are folks able to get jobs that are higher wage jobs in private sector vs government? answer to both is yes. Not sure your point, let's monitor it for a year and see. K?

Once again, I deal in facts and figures not opinions. I provide data to support my claims, is it too much to ask that you people do the same thing?


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the tax cuts just occurred, I will once a quarter or two goes by, k?

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


Sent from my iPhone using USMessageBoard.com

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

 

[Cellblock2429]

Once again, I deal in facts and figures not opinions. I provide data to support my claims, is it too much to ask that you people do the same thing?


Sent from my iPhone using USMessageBoard.com

the tax cuts just occurred, I will once a quarter or two goes by, k?

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


Sent from my iPhone using USMessageBoard.com

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

/----/It's funny because I followed your link and saw this error message:
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:35 AM

The database is currently unavailable.
Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

I then searched myself and saw the chart only goes back to 2001. So yours is a home made chart, perhaps?

 

[Harpy Eagle]

the tax cuts just occurred, I will once a quarter or two goes by, k?

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


Sent from my iPhone using USMessageBoard.com

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

/----/It's funny because I followed your link and saw this error message:
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:35 AM

The database is currently unavailable.
Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

I then searched myself and saw the chart only goes back to 2001. So yours is a home made chart, perhaps?

View attachment 176874

That was not my link, that was the link from your fellow Trump zealot.


As for the chart, you can adjust it to any dates you want going back to 1948...but I guess the technology is too much for you to grasp.

 

[Cellblock2429]

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


Sent from my iPhone using USMessageBoard.com

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

/----/It's funny because I followed your link and saw this error message:
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:35 AM

The database is currently unavailable.
Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

I then searched myself and saw the chart only goes back to 2001. So yours is a home made chart, perhaps?

View attachment 176874

That was not my link, that was the link from your fellow Trump zealot.

Here is a good link.

Notice: Data not available: U.S. Bureau of Labor Statistics

As for the chart, you can adjust it to any dates you want going back to 1948...but I guess the technology is too much for you to grasp.

View attachment 176877

/----/ Just clicked on your newest link.
Bureau of Labor Statistics

Notice
Thursday, February 15, 2018 8:57 AM

The database is currently unavailable.

Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

 

[Harpy Eagle]

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

/----/It's funny because I followed your link and saw this error message:
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:35 AM

The database is currently unavailable.
Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

I then searched myself and saw the chart only goes back to 2001. So yours is a home made chart, perhaps?

View attachment 176874

That was not my link, that was the link from your fellow Trump zealot.

Here is a good link.

Notice: Data not available: U.S. Bureau of Labor Statistics

As for the chart, you can adjust it to any dates you want going back to 1948...but I guess the technology is too much for you to grasp.

View attachment 176877

/----/ Just clicked on your newest link.
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:57 AM

The database is currently unavailable.

Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

Yeah, it seems to do that when you link to a table with dates other than the default. So, I took the link out. Blame it on Trump's BLS.

So, since you seem challenged, maybe this will help. http://lmgtfy.com/?q=unemployment+numbers

 

[AntonToo]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/-----/ The CBO says you lie like a rug:
"But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before." - Investors Business Daily.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

You clearly don't understand wtf you are reading. Why? Because whoever wrote that garbage WANTED to mislead you.

68 billion period STARTED IN OCTOBER (through January ytd) a period when there was right about ZERO actual tax-cuts

CBO says in no uncertain terms - these tax cuts will reduce revenues and the deepest impact will be within first few years, because they are front loaded.

 

[Cellblock2429]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/-----/ The CBO says you lie like a rug:
"But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before." - Investors Business Daily.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

You clearly don't understand wtf you are reading. Why? Because whoever wrote that garbage WANTED to mislead you.

68 billion period STARTED IN OCTOBER (through January ytd) a period when there was right about ZERO actual tax-cuts

CBO says in no uncertain terms - these tax cuts will reduce revenues and the deepest impact will be within first few years, because they are front loaded.

/----/ Quick question, does the CBO score dynamically or are their predictions static? TIA

 

[Cellblock2429]

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

Ahh, little cellblock finds actual facts to be funny! How cute!

/----/It's funny because I followed your link and saw this error message:
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:35 AM

The database is currently unavailable.
Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

I then searched myself and saw the chart only goes back to 2001. So yours is a home made chart, perhaps?

View attachment 176874

That was not my link, that was the link from your fellow Trump zealot.

Here is a good link.

Notice: Data not available: U.S. Bureau of Labor Statistics

As for the chart, you can adjust it to any dates you want going back to 1948...but I guess the technology is too much for you to grasp.

View attachment 176877

/----/ Just clicked on your newest link.
Bureau of Labor Statistics

​

Notice
Thursday, February 15, 2018 8:57 AM

The database is currently unavailable.

Your request was invalid for this Data Access Service. Please attempt other data requests. Thank you for using LABSTAT.

Yeah, it seems to do that when you link to a table with dates other than the default. So, I took the link out. Blame it on Trump's BLS.

So, since you seem challenged, maybe this will help. LMGTFY

/----/ Yeah it spiked in 1983 but then started a decline. So what's your point Sparky?
US Unemployment Rate by Year

 

[AntonToo]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/-----/ The CBO says you lie like a rug:
"But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before." - Investors Business Daily.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

You clearly don't understand wtf you are reading. Why? Because whoever wrote that garbage WANTED to mislead you.

68 billion period STARTED IN OCTOBER (through January ytd) a period when there was right about ZERO actual tax-cuts

CBO says in no uncertain terms - these tax cuts will reduce revenues and the deepest impact will be within first few years, because they are front loaded.

/----/ Quick question, does the CBO score dynamically or are their predictions static? TIA

They do both.

Static scores give us apple to apple comparison of spending and tax cuts.

When CBO scored spending like Stimulus I don't recall ANYONE bitching how that is not accounting for secondary effects on revenues from that spending (dynamic scoring).

Here is what dynamic scoring looks like from MANY MANY MANY economists (who I assume you will not argue know something about economics)

We can expect SOME reduction in ultimate budget cost from economic feedbacks, but the reduction is fractional.

 

[Cellblock2429]

are more folks now back at work? Are folks able to get jobs that are higher wage jobs in private sector vs government? answer to both is yes. Not sure your point, let's monitor it for a year and see. K?

Once again, I deal in facts and figures not opinions. I provide data to support my claims, is it too much to ask that you people do the same thing?


Sent from my iPhone using USMessageBoard.com

the tax cuts just occurred, I will once a quarter or two goes by, k?

This is not the first time taxes have been cut in this country. Did the previous tax cuts have an impact on unemployment?


Sent from my iPhone using USMessageBoard.com

Notice: Data not available: U.S. Bureau of Labor Statistics

Thanks for the link. Now, lets put the two things together.

Jan 1982 taxes were cut....unemployment rose for 14 straight months
Jan 1993 taxes were raised....unemployment dropped for 24 straight months
Jan 2003 taxes were cut....unemployment rose for 8 months and then dropped for 29 months
Jan 2013 taxes were raised...unemployment dropped for 60 months.

/----. "Jan 1982 taxes were cut....unemployment rose for 14 straight months " It did not. It spiked in 1983 then went down
US Unemployment Rate by Year
Jan 1, 1989 5.40%
Jan 1, 1988 5.70%
Jan 1, 1987 6.60%
Jan 1, 1986 6.70%
Jan 1, 1985 7.30%
Jan 1, 1984 8.00%
Jan 1, 1983 10.40%
Jan 1, 1982 8.60%
Jan 1, 1981 7.50%
Jan 1, 1980 6.30%

 

[Cellblock2429]

so first month the tax cuts have been in play and lo and behold the treasury collected more in taxes.

Who would have thought cutting taxes would raise revenues? I mean other than everyone who understands economics

BULLSHIT - tax cuts didn’t make it into paychecks in January.

To answer your question - Ignorant rightwing idiots would think that.

Economists are generally considered people who understand economics and there is not a single serious analysis out there that shows Trump tax-cuts not causing significant deficits.

Revenues will be significantly down this year, of that there is no doubt.

/-----/ The CBO says you lie like a rug:
"But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before." - Investors Business Daily.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.

You clearly don't understand wtf you are reading. Why? Because whoever wrote that garbage WANTED to mislead you.

68 billion period STARTED IN OCTOBER (through January ytd) a period when there was right about ZERO actual tax-cuts

CBO says in no uncertain terms - these tax cuts will reduce revenues and the deepest impact will be within first few years, because they are front loaded.

/----/ Quick question, does the CBO score dynamically or are their predictions static? TIA

They do both.

Static scores give us apple to apple comparison of spending and tax cuts.

When CBO scored spending like Stimulus I don't recall ANYONE bitching how that is not accounting for secondary effects on revenues from that spending (dynamic scoring).

Here is what dynamic scoring looks like from MANY MANY MANY economists (who I assume you will not argue know something about economics)

We can expect SOME reduction in ultimate budget cost from economic feedbacks, but the reduction is fractional.

/----/ And we'll see over the course of the next year who is right.