The numbers are in: Trump’s tax cuts paid off

The Congressional Budget Office’s May 2022 forecast shows that the government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the December 2017 passage of tax reform.

It doesn’t look like the tax cuts — which government scorekeepers said at the time would cost $1.5 trillion over 10 years — have been anything like the fiscal nightmare that some on the left would lead us to believe...


…The Biden White House issued a press release claiming “the Trump tax cuts had added $2 trillion to deficits over a decade.”

But the numbers tell a different story. Despite the political rhetoric, tax revenues are up.

Adjusting the forecasts to actual 2022 dollars, prior to the tax cuts the government projected $40.7 trillion of income tax, corporate tax, and payroll tax revenues between 2018 and 2027. The latest budget forecasts project $41.3 trillion of revenues for that period. Instead of reducing revenues by $1.5 trillion, the latest forecasts suggest tax revenues will come in $570 billion higher than expected…









read more: https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/the-numbers-are-in-trumps-tax-cuts-paid-off







This is no surprise to anyone who knows anything at all about economics. So, instead of costing money it actually gained the government money. The Trump tax cuts were clearly the right thing to do and are the only thing keeping us out of a recession now.

 

So if a business lowers its prices it will make more profit, you might want to tell the oil corps that.

 

Trump was right. Huge private investment, insourcing of industry and jobs back to America and big wage increases to the working and middle class and lowest minority unemployment ever

 

If it had the volume to sell more of it at the lower price they would do so as they did when Trump was President. You can’t cut prices with artificially limited supply

 

Yes you can.

 

You mean knowing basic economics pays off? Who woulda thunk it.

 

~ A business lowers price to stay competitive and to increase sales volume. Usually they make the same or more in profit.
During the Trump-O administration we increased new businesses as well as sales volume. During Biden's short tenure we see businesses closing, unemployment raise and government subsidies to keep people "Covid safe".

 

No sane economist would advocate for that and no company will do it. Liberals have always been in denial of the principles of supply and demand in pricing.

 

Sorry but there IS a difference between CAN'T and WON'T.

 

Cons have no sane economists and have been in denial that supply side economics don't work and the Laffer curve is fiction because nobody can explain it.

Fantasy economics. Oh, and Trump was completely wrong.

 

Laffer was always right. Federal revenues doubled during Reagan’s 8 years due to tax cuts. Trumps cuts increased revenues as well.

 

People say that supply side economics don't work because it basically transfers wealth from the poor/middle class to the rich. What you guys have to realize is THAT'S WHAT ITS SUPPOSED DO, but republican's can't say to the public so they lie about it.

 

The Trump tax cuts went to the working and lower middle class and created real wage growth and all time low unemployment for most groups of Americans.

 

~ Progressive liberal Democrats are in denial of reality. They live in their own bubble ...

~ When I read 'Laffer ' Kamala "Giggles" Harris immediately to mind . I wonder where they have been hiding of her ... ?

 

that's rich given that 99% of the nation's wealth is owned by the upper 50%.

It's not about wages, it's about wealth.

What does it matter if my wage went form $15 an hour to $17 an hour if I got nothing to show for it?

That's the result of conservatives and their policies of accelerated neoliberalism under Reagan, Bush 1 and 2, and Now Trump.

It will take years to reverse the evil that Republicans have done ( Bill Clinton was also a neoliberal, so I'm critical of him, as well ).

No American liberal can do much about the neoliberal polices of the right since the Senatorial system biased in favor of control of the senate by republicans, and two conservative Senate democrats who won't rid the nation of the filibuster.

Currently, 50 Democrat Senator's constituencies are 40,000,000 more than 40 Senate Republicans, yet they can deny any liberal policy via the filibuster.

Who are doing this? Conservative republicans and conservative democrats.

Conservatives and their neoliberal policies are destroying America.

 

Yeah, pennies to the middle class, 15% discount to corporations and the rich. Minimum wage jobs and no wage growth for the middle class.

Thanks but I'd prefer the prior tax rates.

 

Lower and middle class workers got bonuses and real wage increases as a result of the tax cuts. Also many more jobs insourced back to America and the lowest unemployment rates in half a century it ever depending on the group invilolved. We understand that working and middle class manufacturing and energy jobs in the middle of the country was the last thing bi coastal secular progressive urban wall st banker and tech lords wanted to see. They only wanted us to have illegal aliens to compete for our remaining jobs and a ton of fentanyl to kill off our remaining young with.

 

Or maybe the increased revenue is from the sky-high tariffs Trump imposed on US citizens?

 

We all know that’s not true as Trumps tariffs weren’t sky high and Chinese devalued their currency so that their products didn’t cost consumers more

 

The sudden change in projected revenue is due to inflation.

 

look at the current debt and the rising prices, the corps have a weird way of saying thank you for the maga tax cuts

you're forgetting to count how much month was dumped into the economy from 2019 to now

 

Trump was right. CBO was wrong. And that's not the end of Dems troubles.

Dems were also lying when they claimed that the unnecessary massive spending as Biden kicked off his presidency would not burn the economy down in inflation.

ABC poll: 80% cite inflation as top issue -- and Biden gets 28% approval

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"It’s the economy, stupid. Despite the White House’s best attempts to rope voters into other issues besides Joe Biden’s utterly disastrous economic policies, ABC’s latest poll shows precisely what other pollsters have demonstrated all along. While inflation rages, it’s practically the only consideration on the table in the midterms."

Just put all the policies back to where they were while Trump was President and gas and food prices will normalize, prosperity will return and our real wages will start rising again.

Americans have been viciously mauled by Biden/Dems economic attack on our nation. "more than eight in 10 Americans (83%) now say that the economy is either an extremely or very important issue in determining how they will vote."

"80% of Americans say that inflation is also an extremely or very important factor in how they will vote.'
74% narrow it down even further, it's how much gas costs.

"Only 37% approve of Biden’s handling of the economic recovery, and even fewer approve of his handling of inflation (28%) and gas prices (27%)."

Asterisks denote new lows:

Good Job/Butthole Biden Blows

• Inflation: 28/71*
• Gas prices: 27/72*
• Immigration: 37/61
• Economic recovery: 37/61*
• Crime: 38/61
• Climate change: 43/55*
• Gun violence: 35/64
• Taxes: 37/61*
• Abortion: 41/58 (first time asked in this series)

Things were much better under Trump, and since Biden hasn't been able to change Trump's tax system, revenues to the Federal Government are very strong.

 

The Booming Economy, Not The 2017 Tax Act, Is Fueling Corporate Tax Receipts

 

LOSING -$75.171B is just three months the new "Booming"? (Seas Adj Annual Rate)

Who knew!

 

Now you're just making stuff up without a shred of even a half-truth. Wasn't even a good try.