Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

Tax cuts decrease the deficit

2001400ex
2001400ex Member Posts: 29,457
edited October 2018 in Tug Tavern
You all were right.

Those claims date back to Trump's 2016 presidential campaign. He first proposed a $10 trillion tax cut far larger than any Republican rival's, but insisted it wouldn't boost the federal budget deficit even temporarily because the economy would "take off like a rocket ship."

"Not only will this tax plan pay for itself, but it will pay down debt," Treasury Secretary Steven Mnuchin asserted as Congress debated the Trump tax cut. Mnuchin named two factors — increased economic growth and reduced corporate tax avoidance — that would offset revenue losses from lower rates.

"The years when we increased deficits are years when the economy is slowing down," said Gary Cohn, then director of the National Economic Council. He explained lower rates would lead corporations to shift taxable operations back to the U.S. from abroad.

House and Senate leaders used those arguments to reassure Republican holdouts. "We're right there in the sweet spot with economic growth that gives us more revenue," Speaker Paul Ryan declared.

"We fully anticipate," said Senate Majority Leader Mitch McConnell, "this tax proposal in the end to be revenue neutral for the government if not a revenue generator."

A few skeptics worried anyway. Calling debt "the greatest threat to our nation," Sen. Bob Corker of Tennessee vowed to oppose it "if it looks like to me … that we are adding one penny to the deficit."

Even as growth has accelerated, the Treasury reported that the 2018 deficit swelled to $779 billion. That level, the highest in six years, marks a 17 percent increase over 2017.

Federal spending as a share of the economy fell. But revenue fell even more, with corporate tax receipts plummeting 31 percent. The Congressional Budget Office forecasts deficits hitting $981 billion in 2019 and exceeding $1 trillion every year after that.

https://www.yahoo.com/finance/news/numbers-trump-apos-tax-cut-184400524.html
· Share on FacebookShare on Twitter
«1

Comments

  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    · Share on FacebookShare on Twitter
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,176 Founders Club
    I wonder if spending effects this


    Democrats will raise your taxes and spending

    Blue Wave 18
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    RaceBannon said:

    I wonder if spending effects this


    Democrats will raise your taxes and spending

    Blue Wave 18

    It's like there's two sides of the equation. Spending and revenue. Trump and Congress fucked both up in the last year. HTH
    · Share on FacebookShare on Twitter
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,176 Founders Club
    Sure

    And democrats want to do worse while raising my taxes along with it

    Good job shill
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    edited October 2018
    2001400ex said:

    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    What I said is absolutely true. Its numbers posted by the govt themselves...don't blame me that you are the moron that can't find them and need some idiot from "Yahoo News" to think for you.

    And it doesn't mean the deficit didn't go up. If Govt revenues went up, but spending went up more that kinda means (for the non HondoFS of the world) that the deficit went up.

    God you are a moron, and a lying one at that.





    · Share on FacebookShare on Twitter
  • sarktastic
    sarktastic Member Posts: 9,208
    Trump directed a 5% budget cut in all departments except defense.

    Hondo to cheer Trumps decisive action in 5...4...3...2...
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    What I said is absolutely true. Its numbers posted by the govt themselves...don't blame me that you are the moron that can't find them and need some idiot from "Yahoo News" to think for you.

    And it doesn't mean the deficit didn't go up. If Govt revenues went up, but spending went up more that kinda means (for the non HondoFS of the world) that the deficit went up.

    God you are a moron, and a lying one at that.





    Post a link then. Should be easy to support your story. Like you said, it's government numbers.
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    sarktastic said:

    Trump directed a 5% budget cut in all departments except defense.

    Hondo to cheer Trumps decisive action in 5...4...3...2...

    Link?
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    2001400ex said:

    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    What I said is absolutely true. Its numbers posted by the govt themselves...don't blame me that you are the moron that can't find them and need some idiot from "Yahoo News" to think for you.

    And it doesn't mean the deficit didn't go up. If Govt revenues went up, but spending went up more that kinda means (for the non HondoFS of the world) that the deficit went up.

    God you are a moron, and a lying one at that.





    Post a link then. Should be easy to support your story. Like you said, it's government numbers.
    Go find them yourself moron...

    I'll poast them, but I need something for it. How about you either voluntarily taking a week break from spamming the board or finally pay Derek for your spamming. Too chicken to agree?

    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    What I said is absolutely true. Its numbers posted by the govt themselves...don't blame me that you are the moron that can't find them and need some idiot from "Yahoo News" to think for you.

    And it doesn't mean the deficit didn't go up. If Govt revenues went up, but spending went up more that kinda means (for the non HondoFS of the world) that the deficit went up.

    God you are a moron, and a lying one at that.





    Post a link then. Should be easy to support your story. Like you said, it's government numbers.
    Go find them yourself moron...

    I'll poast them, but I need something for it. How about you either voluntarily taking a week break from spamming the board or finally pay Derek for your spamming. Too chicken to agree?

    El oh El. You need something to prove you aren't a liar. Pussy.
    · Share on FacebookShare on Twitter
  • sarktastic
    sarktastic Member Posts: 9,208
    edited October 2018
    You’ve heard the naysayers on the Trump administration’s Tax Cuts and Jobs Act.

    Deficit hawks and Democrats alike have said the tax cuts would explode the deficit.

    Yet, according to Investor’s Business Daily, individual income taxes rose 6 percent in the just-finished fiscal year for 2018 while the economy continues to grow.

    https://moneyandmarkets.com/trump-tax-cuts-federal-revenue-record/
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    2001400ex said:

    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    2001400ex said:

    HoustonHusky said:

    Federal revenues rose over the previous year. Spending rose even more.

    Keep lying.

    Care to post a link? Refute the facts I posted.
    What I said is absolutely true. Its numbers posted by the govt themselves...don't blame me that you are the moron that can't find them and need some idiot from "Yahoo News" to think for you.

    And it doesn't mean the deficit didn't go up. If Govt revenues went up, but spending went up more that kinda means (for the non HondoFS of the world) that the deficit went up.

    God you are a moron, and a lying one at that.





    Post a link then. Should be easy to support your story. Like you said, it's government numbers.
    Go find them yourself moron...

    I'll poast them, but I need something for it. How about you either voluntarily taking a week break from spamming the board or finally pay Derek for your spamming. Too chicken to agree?

    El oh El. You need something to prove you aren't a liar. Pussy.
    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Too scared to agree, eh? Figures.

    I'll add to it...if I'm wrong I'll stay off the bored for a week. According to HondoFS logic I'm the liar because HondoFS disagrees with published govt data, and is too scared to either pay Derek or quit spamming the bored for a week. BRILLIANT.

    HondoFS...
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    sarktastic said:

    You’ve heard the naysayers on the Trump administration’s Tax Cuts and Jobs Act.

    Deficit hawks and Democrats alike have said the tax cuts would explode the deficit.

    Yet, according to Investor’s Business Daily, individual income taxes rose 6 percent in the just-finished fiscal year for 2018 while the economy continues to grow.

    https://moneyandmarkets.com/trump-tax-cuts-federal-revenue-record/

    This is how dumb fucksticks like you are. Was individual income taxes the only thing cut? And 5 months out of the individual income tax year were under the old tax structure. October 17 through January 18 and April of 18.

    But keep being fucktarded.
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    2001400ex said:

    sarktastic said:

    You’ve heard the naysayers on the Trump administration’s Tax Cuts and Jobs Act.

    Deficit hawks and Democrats alike have said the tax cuts would explode the deficit.

    Yet, according to Investor’s Business Daily, individual income taxes rose 6 percent in the just-finished fiscal year for 2018 while the economy continues to grow.

    https://moneyandmarkets.com/trump-tax-cuts-federal-revenue-record/

    This is how dumb fucksticks like you are. Was individual income taxes the only thing cut? And 5 months out of the individual income tax year were under the old tax structure. October 17 through January 18 and April of 18.

    But keep being fucktarded.
    And unemployment is down, which means SS and Medicare taxes are up. Look at the overall net revenue. Its a simple fact overall revenues are up over the previous year...you putting your fingers in your ears and screaming like Dustin doesn't change that simple fact...
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    HoustonHusky said:


    2001400ex said:

    sarktastic said:

    You’ve heard the naysayers on the Trump administration’s Tax Cuts and Jobs Act.

    Deficit hawks and Democrats alike have said the tax cuts would explode the deficit.

    Yet, according to Investor’s Business Daily, individual income taxes rose 6 percent in the just-finished fiscal year for 2018 while the economy continues to grow.

    https://moneyandmarkets.com/trump-tax-cuts-federal-revenue-record/

    This is how dumb fucksticks like you are. Was individual income taxes the only thing cut? And 5 months out of the individual income tax year were under the old tax structure. October 17 through January 18 and April of 18.

    But keep being fucktarded.
    And unemployment is down, which means SS and Medicare taxes are up. Look at the overall net revenue. Its a simple fact overall revenues are up over the previous year...you putting your fingers in your ears and screaming like Dustin doesn't change that simple fact...
    September 18 isn't on this report yet. Notice a trend?

    photo F5155BC1-E44F-4759-8F36-19F0B641C0C7_zpssdprxt4b.png
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    HoustonHusky said:

    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.

    Still haven't seen you post a link. Shocking.
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    2001400ex said:

    HoustonHusky said:

    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.

    Still haven't seen you post a link. Shocking.
    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.

    I'll post multiple links if you want...all you have to do is say the simple words "I agree".

    · Share on FacebookShare on Twitter
  • MikeDamone
    MikeDamone Member Posts: 37,781
    2001400ex said:

    HoustonHusky said:

    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.

    Still haven't seen you post a link. Shocking.
    STFU already. Idiot. https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    MikeDamone said:

    2001400ex said:

    HoustonHusky said:

    HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

    Still too scared to agree, eh? Figures.

    Still haven't seen you post a link. Shocking.
    STFU already. Idiot. https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
    The Treasury Department reported this week that individual income tax collections for FY 2018 totaled $1.7 trillion. That's up $14 billion from fiscal 2017,

    Corporate income taxes, which dropped by 31%.

    Here's the problem with Troomps like you and Houston and your news source. Trump's tax cuts affected individual and corporations. Do you think the net of the above two numbers is a net positive?

    Then the economy grew at 4% I'm hearing. Shouldn't tax receipts increase in that same ballpark?

    Then now you'll say. "Well total tax receipts went up, STFU". Look at the monthly tax receipts I posted. Why were total tax receipts down May through August?
    · Share on FacebookShare on Twitter
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,176 Founders Club
    Shut the fuck up

    Win the election and raise all the taxes you want. And raise spending too

    Don't pretend like you give a shit about the debt or deficit
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    RaceBannon said:

    Shut the fuck up

    Win the election and raise all the taxes you want. And raise spending too

    Don't pretend like you give a shit about the debt or deficit

    Race only cares about politicians lying when they have a D next to their name. Did you keep your doctor?
    · Share on FacebookShare on Twitter
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,176 Founders Club
    I got a tax cut and revenues are up

    The only liar here is you
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    RaceBannon said:

    I got a tax cut and revenues are up

    The only liar here is you

    Liar. They are only up if you take into about the 4 months before the tax cuts went into effect. Dumbfuck.
    · Share on FacebookShare on Twitter
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,176 Founders Club
    Jesus

    Just fucking pathetic
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    RaceBannon said:

    Jesus

    Just fucking pathetic

    Ironic.
    · Share on FacebookShare on Twitter
  • Sledog
    Sledog Member Posts: 37,888 Standard Supporter
    I thought we were raking in huge money on tariffs.
    · Share on FacebookShare on Twitter
  • 2001400ex
    2001400ex Member Posts: 29,457
    Sledog said:

    I thought we were raking in huge money on tariffs.

    That'll teach you for thinking.
    · Share on FacebookShare on Twitter
  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    2001400ex said:






    · Share on FacebookShare on Twitter