When will journalists and Democrats tell the truth about the tax cuts and the economy as a whole?
While the Congressional Budget Office (CBO) and other experts routinely underestimate the costs of government spending programs by huge amounts, they severely underestimate receipts and economic results when there are across the board tax cuts. The data are readily available, and they show that after the Reagan and Bush major tax cuts, the economy improved rapidly — and tax receipts shot up. Yet in all projections, the CBO assumes that receipts will go down and the economy won't expand much because of the cuts.
The CBO said the Trump tax cuts would cost the government $1.5 trillion over ten years, but revenues are already rising at a decent clip in the second year.
Why do journalists and other Democrats continue to repeat that Trump's tax cuts are costing trillions and helping only the rich when those are obvious lies?
The answer is that they lie about the economy for the same reasons they repeat the
lies about Charlottesville. The truth doesn't help their agenda, and the only thing that is important to journalists and other Democrats is that they get their power back.
New data from the
CBO:
Total Receipts: Up by 3 Percent in the First Nine Months of Fiscal Year 2019
Receipts totaled $2,609 billion during the first nine months of fiscal year 2019, CBO estimates — $69 billion (or 3 percent) more than during the same period last year. That increase was the result of changes in receipts from the following sources:
- Individual income and payroll (social insurance) taxes together rose by $60 billion (or 3 percent).
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