2018: Feds Collect Record Individual Taxes

https://www.cnsnews.com/news/articl...utm_medium=facebook&utm_campaign=sumome_share

.....it broke the previous 2017 record. Hmmmm, record tax collections after a tax cut, that's not supposed to happen, at least if you're a liberal.

 

It means the tax cuts so improved the economy that people were making so much more that they had to pay more taxes.

This would be why tax cuts are good for the economy.

 

Econ 101 is too much for reactionary arguments. Now, if the government followed suit and lowered government spending, we could actually CUT into the deficit. But that requires smart people in parliament. I'm afraid we lack that.

 

Of course the left lies about this and says the deficit is because of the tax cuts.

 

If Trump had raised taxes they would have bitched about that also.

lol

 

...and they did. Trump's tax bill cut the SALT deduction to high income earners, and there are several squealing threads about them having to pay more.

 

If Trump so much as breaths, they'd bitch about it. And it's paralyzing the country. We wouldn't have these court arguments if they could just fund 1% of GDP spending. That's all. One of the reasons for the California move, was that GOV Newsom didn't want to give Trump funds, like WTF?

Ideology over nation is never patriotic.

 

Why should the rest of the country subsidize a handful of big spending states? Most of the tax increases due to the new SALT restrictions are to the wealthy, I thought the left wanted to raise taxes on such people?

 

Well it turns out they were lying the whole time about wanting to raise taxes on the rich.

 

So what? Trump and the GOP continue to run up deficit spending. Hey, why not add a few billion more to that debt with monument to President Tweet on the southwest border?

 

It is refreshing to see dems take a sudden interest in reducing deficit spending.

You did ask a good question. The answer is that it will save money in the long run. Illegal aliens are a liability. Border security is an asset.

 

Not a dem. It’s easier to have genuine discussions when you don’t put people in boxes. Try it sometime.

If anyone in this country actually cared about stopping illegal immigrants, they’d go after the businesses that keep incentivizing them to come here.

 

Hey, I'm pro that too. E-Verify and everything. But let's stop acting like the "wall" is the same thing as California's failed high speed rail.

 

But Trump is taking care of all his rich buddies, right? wait.....what? I'm confused....LOL

 

yeah many are not getting the refunds this year they had hoped for, some even owe money

 

No need to worry. Congress has an unlimited ability to spend. They will still attack the tax cut.

 

Oh, cnsnews doesn't have a low-tax agenda to push, no?

I rather trust the wsj:

https://www.wsj.com/articles/u-s-tax-revenue-declined-0-4-in-2018-11550084426

Revenue fell 0.4% in 2018. So much for the tax cuts paying for themselves. And that's in the first year after the cut, when the economic sugar high provided is the highest. Wait until the tax cut party is over, the overhang will make the revenue plummet through the floor, like it always happens with GOP economic boom and bust whiplash policy.

 

No one would argue that increasing the amount of money in a system has economic benefits. I would argue however that giving the average worker $4 more a week with a withholding change is less beneficial than getting a refund check for $250. Or that the economy would have benefited more with more of the $ used in the cut went to citizens making 50-150 thousand and less to the top 1%.

And while tax cuts do provide a temporary boost without corresponding cuts in spending long term deficit spending is worse.

 

Your link won't open without a subscription, but it references federal revenue, the OP talks about individual tax collections. And speaking of an agenda, WSJ news stories are often as liberal as other MSM outlets, unlike their fine editorial page.

 

So what? How much tax you paid is not based on whether you owe or get back a refund when you file.

 

"A Treasury spokeswoman said the administration has been clear the tax law would reduce revenues in the near-term “due to the front-loading of certain provisions, such as the immediate expensing of capital expenditures to encourage investment in U.S. businesses.”"
That will factor out this year.

 

So? Their tax liability is lower. They are paying less in taxes

 

If you want a big refund just tell your employer to take an extra hundred out of your weekly paycheck and give it to the government. The refund will be huge.

Some people seem to think the refund comes from the local casino instead of out of their own hide.

 

The "tax refund" issue has been explained on here about a hundred times now. I think at this point anyone continuing to push the "oh no, tax refunds are lower!" narrative is intentionally spreading leftist propaganda under the guise of willful ignorance.

 

To be a leftist is to be willfully ignorant