Harambe wrote:
So when does this tax cut start paying for itself? Deficit back up to recession-level numbers...
agip wrote:
you know the facts so far seem to be that revenue is UP, despite the tax cuts.
Harambe wrote:
Revenue has increased but ......
Hardloper wrote:
If revenue increased then......
Hardloper wrote:
But tax receipts are already up, so..... .
Stop, stop, STOP. Seriously, I expect Hardloper to be pushing fake #'s and lies (He STILL thinks voodoo economics are real, and STILL thinks the Regan tax cuts resulted *directly* in real increases in revenue, i.e., "paid for themselves", despite the fact that Reagan's own budget director says this is not true, and his own FINAL BUDGET declared the tax cuts to have contributed to lost revenues and increased the budget).
But agip? C'mon, man you're slipping.
Since the tax cut, revenues are DOWN. Yes, much of that is due to decreased corporate revenues, but that is where a huge portion of the tax cut went to, so it matters of course
In nominal $'s, real $'s, and as GDP % revenues are DOWN SINCE THE TAX CUT. So please stop with the fake news. Don't help lying Republicans spread their BS.
http://www.crfb.org/blogs/tax-bill-did-not-cause-revenue-riseAnd here's the other thing. Even if revenues were up (and they are not) after a tax cut, one can't directly attribute that to tax cut. The economy might have been improving anyway due to a myriad of reasons, more people were hired, population increased, and of course inflation, etc, therefore even with lower rates, revenues *could* go higher. But tax cuts don't get all the credit for a good economy, and certainly not for population increases or inflation. But people like Hardloper stupidly, or disingenuously (take your pick) see a tax cut, and then see either increased revenue or not large losses (in non-inflation adjusted terms) and say: " hey, everyone, the tax cut paid for itself! We win!"
So simplistic and so untrue.
In summation:
1) Tax revenues, since the tax cut are not up. They are most certainly down.
2) Even if they were "up", it wouldn't mean the cuts "paid for themselves." It could be due to inflation, or population growth, or an already strong economy (which might have been slightly buoyed by tax cuts, but there are many other factors in am improving economy, tax cut would not and should not get all the direct credit for that). It would still mean that revenues were almost certainly lost compared to what they would have been under the old rates.