You don't know that. We do not know what the revenue would have been. We only know it went up at the same rate.
of course we know that. It’s basic math. we know it would have been higher by the percentage that was cut.
I have had college courses in both. Basic math says the revenue after the tax cut would have resulted in a massive reduction in revenue. It went up. Basic math only works if the factors going into the equations are known. Basic economics says that if you change anything in the economy, it ends up changing the other factors. They are interactive. Thus basic math and economics have little to do with each other.
and knowledge of economics shows revenue always goes up, year over year, every year unless there is a recession. We know the factors. Nothing in the economy changed. Every economic metric from 2010 to present has been on the exact same trend line. The tax cuts had no effect, other than exploding the deficit, like they always do.
In went up by the same amount in spite of having a tax rate cut. The tax base increased more than normal. The factors change. What will the tax base for the US be in 2020 since you claim that we know the factors? The tax base went up. Otherwise according to your basic math, the tax revenue would have gone down proportionately. A tax cut or tax increase for a business is treated as a business expense. They When a business gets a tax cut or tax increase, it changes the way it does business. When a family gets a tax increase or tax decrease, they change their spending habits. Nothing stays the same when you change one part of the economy. There is a ripple effect which changes just about everything. That change also changes the factors in your "basic math".
no it didn't. I don't know future factors. We know past factors. Nothing changed after the tax cuts. Every economic metric remained on the same trend line. population growth no it doesn't an extra $1,200 a year doesn't have any effect on the economy, as evidenced by the trump tax cuts. nothing in the economy was changed. and we know nothing changed after the tax cuts.
The revenue received by the government went up the same amount. How could it not have an effect. We received a federal tax cut of just under $2000. We put some in investments. We saved some and we helped out some of our relatives. All of that money was put back in the economy in one way or another. Incidentally, we also got a state tax cut of around $2000. . You don't believe that a company changes what it is doing when it gets a big reduction in expenses? Unbelievable. They can lower prices, increase pay to employees, make a bigger profit or a combination of all three. It also increases their optimism which likely changes what they will do in the future. The tax base went up. Otherwise, there would not have been an increase in tax revenue. Basic math. QUOTE="rahl, post: 1071252327, member: 47629"]and we know nothing changed after the tax cuts.[/QUOTE] Unemployment is at an all time low and the stock market is at an all time high. Those are very big changes. [
the economic data is perfectly clear. All economic metrics have remained on the same unchanging upward trend line since 2010. The trump tax cuts had no effect on them. We have 10 years of data showing this. We collected less revenue after the cuts, than we otherwise would have.
Tax revenue in FY2017 (before tax cut) was $3.32 Trillion Tax revenue in FY2018 (after tax cut) was $3.33 Trillion Tax revenue in FY2019 is now projected at $3.44 Trillion.. We don't know what it would have been. We only know that it went up and that is a good thing. And it went up with me ending up with a lot more money, which is even a better thing for me.
we know what it would have been, because...................math. We collected less revenue than we otherwise would have.
Your math is worthless for economics. But I liked the tax cut. I came out nearly $2000 ahead. If you do not like the tax cut, I recommend you give yours back to the IRS. I am sure they will appreciate it. Do it. That way you can quit griping about the tax cut.
I've already acknowledged that is the case..........if you know nothing of economics or mathematics. Tax cuts are fine when rates are too high, or we need the stimulus to get out of a recession. In good economic times, just following the worst recession in 80 years, tax cuts and deficitt spending is total fiscal incompetence.
I have a BS in mechanical engineering. I have around twenty hours of math including various forms of calculus. Most of the technical courses involved math. I have an MS in management which is a combination of leadership and business with a lot of economics. Virtually everything affects economics. You won't find a single competent economist who says it is just "basic math". The primary purpose of government is not to collect taxes. The less the government gets, the better. But, if you disagree with that philosophy, give yours back.
nor did I say it was JUST basic math. I've shown how it's both. The primary purpose of government is to fulfill it's obligations to the citizenry. We have certain expenditures. Revenue needs to be sufficient to cover those expenditures.
You haven't shown anything except claim it is "basic math". You repeatedly claimed that tax cuts had no effect. Not little effect, but "no effect".
For me that is the idea. We need to reverse the growth in government. This helps a little at any rate. Serious spending cuts, however, are indicated.
Well we can agree on the deficit. It sucks. I’m sure the Democratically controlled house will put that in order straight away.
This doesn’t help at all. It just explodes the deficit. Government isn’t going to spend less because they take in less. They just borrow to do it.
Absolutely no effect? Zero. none at all. Wow. Find me one economist who says there was absolutely no effect.
Lol you go ahead and base your argument on “zero”. I’ll keep pointing out the data shows the tax cuts did not affect any economic trend which has remained the same since 2010.