MAGA! FY2016 and FY2019 cumulative receipts are AT PAR, however.....

Discussion in 'Political Opinions & Beliefs' started by nopartisanbull, Aug 18, 2019.

  1. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote; “Here’s your real argument; Orange man tax cuts bad”

    Once again, my belief is Trump’s tax cuts were too steep, thus, one of the main reasons why his revenue growth rates haven’t ranged between 17 and 20 percent of GDP.
     
  2. nopartisanbull

    nopartisanbull Well-Known Member

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  3. nopartisanbull

    nopartisanbull Well-Known Member

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    Because you’re distorting facts!
     
  4. nopartisanbull

    nopartisanbull Well-Known Member

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    Because you’re distorting facts!
     
  5. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote: Revenues and outlays are both projected to rise through 2029, but the gap between them is projected to persist, resulting in large deficits and rising debt.

    We lost one source of receipts; Excess contributions

    Simply put, they've vanished!

    Question; What were Clinton's/Bush's and Trump's FOASI excess contributions?

    CLINTON/FY1988

    FOASI Receipts; $361 billion, Outlays; $329 billion

    Excess: $32 billion, in today's dollars; $50 billion

    https://fiscal.treasury.gov/files/reports-statements/mts/mts0998.pdf

    ------------

    Bush/FY2005;

    FOASI Receipts; $496 billion, Outlays $437 billion

    Excess; $59 billion, in todays dollars; $77 billion

    https://fiscal.treasury.gov/files/reports-statements/mts/mts0905.pdf

    ------------

    Trump/FY2018

    FOASI Receipts; $694 billion, Outlays; $841 billion

    Excess; ZERO!

    https://fiscal.treasury.gov/files/reports-statements/mts/mts0918.pdf

    ----------

    OLD REPUBLICAN SAYINGS; "After the full implementation of Bush's tax cuts, we had double digit revenues"

    Well, of course we did!.....due to different factors and conditions, SUCH AS;

    Bush FY2004 Total Receipts; $1.880 trillion
    Bush FY2005 Total Receipts; $2.150 trillion
    Up $270 billion, revenue growth rate; 14%
    https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

    MINUS FOASI EXCESS ($59 billion)
    Up $211 billion, revenue growth rate; 11%

    Question: Did Clinton's and Bush's FOASI Excess contributions reduced the gap between Receipts and Outlays/increased their revenue growth rates?

    Answer; Of course!

    Quote: Revenues and outlays are both projected to rise through 2029, but the gap between them is projected to persist, resulting in large deficits and rising debt.

    MAIN REASONS;

    1. Trump's tax cuts were too steep
    2. FOASI Excess Contributions have vanished
    3. ?
    4. ?
    5. ?
    6. ?
    7. ?
    8. ?
    9. ?

     
    Last edited: Aug 20, 2019
  6. Lil Mike

    Lil Mike Well-Known Member

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    Well you'll get a chance to raise them again either after 2020 or at the latest, 2024.
     
  7. nopartisanbull

    nopartisanbull Well-Known Member

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    Well, according to some Trump loyalists, "WE HAVE RECORD REVENUES"



    …......and our July 2016/2019 cumulative receipts are AT PAR!

    In other words, our current revenues are AT PAR with Obama's SLOW GROWTH economy.



    1. FY2016 July cumulative receipts; $2.679 trillion, in today's dollar; $2.863 trillion
    2. FY2019 July cumulative receipts; $2.860 trillion

    Sources; Monthly Treasury Statement, current and previous issues//U.S. Inflation Calculator

    [​IMG]
     
  8. Lil Mike

    Lil Mike Well-Known Member

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    What's your source for "today's dollars?"
     
  9. nopartisanbull

    nopartisanbull Well-Known Member

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    https://www.usinflationcalculator.com/

    If in......2016
    I purchased an item for......$2,679
    Then in......2019
    The same item would cost......$2,863
    Cumulative rate of inflation.....6.9%

    July 2016 cumulative receipts; $2.679 trillion
    Figure 2. Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2016
    https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0716.pdf

    July 2019 cumulative receipts; $2.860 trillion
    Figure 2. Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2019
    https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0719.pdf

    In today's dollars, AT PAR, AT PAR, AT PAR!

    In other words, Trump's STONG ECONOMY revenues are AT PAR with Obama's WEAK ECONOMY revenues.

    BRAVO!

    [​IMG]
     
    Last edited: Aug 20, 2019
  10. Lil Mike

    Lil Mike Well-Known Member

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    So the revenues are on PAR even though there were massive Trump tax cuts? Neat!
     
  11. nopartisanbull

    nopartisanbull Well-Known Member

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    Correct!

    Also, Trump has TWO variables that spurred growth, and growth generally increases employment/revenues;

    a. His massive tax cuts
    b. His massive increase of government spending

    The four components of gross domestic product are;

    1. personal consumption,
    2. business investment,
    3. government spending, and
    4. net exports

    3. Government Spending

    Government spending was $3.18 trillion in 2018. That's 17% of total GDP. It's less than the 19% it contributed in 2006. In other words, the government was spending more when the economy was booming before the recession.

    The federal government spent $1.23 trillion in 2018. More than 60% was military spending.

    https://www.thebalance.com/components-of-gdp-explanation-formula-and-chart-3306015

    Question: In 2018, Uncle Sam spent $1.23 trillion on what?

    Answer; Mainly equipment, supplies (GOODS), salaries/compensation (SERVICES)
     
    Last edited: Aug 20, 2019
  12. nopartisanbull

    nopartisanbull Well-Known Member

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    Question; What other variables/measures may spur growth, and growth generally increases employment/revenues?

    Answer: Trump recently said; "Payroll tax cuts were under consideration"

    Question; Will Trump's payroll tax cuts pay for themselves?

    Answer; IMO, not likely.
     
  13. nopartisanbull

    nopartisanbull Well-Known Member

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    Question; What outlays massively increased since October 1st, 2017?

    1. Interest payments
    2. Transfers payments
    3. Military Spending

    3. Military spending;

    Total spending;

    FY2016; $767 billion
    FY2017; $819 billion
    FY2018; $891 billion
    FY2019; $957 billion

    https://www.thebalance.com/u-s-military-budget-components-challenges-growth-3306320

    Old Republican sayings; "Military spending, goooooooooood for the economy"
     

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