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US government records $160.3 billion April surplus

Discussion in 'Current Events' started by MolonLabe2009, May 10, 2019.

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  1. MolonLabe2009

    MolonLabe2009 Banned

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    But...but...but...the tax cuts are going to ruin us.

    More proof that cutting taxes increases revenue.

    <Trolling>

    Thanks Trump!

    Thanks for Making America Great Again!
     
    Last edited by a moderator: May 14, 2019
    MolonLabe2009, May 10, 2019
    #1
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  2. Frank

    Frank Well-Known Member Past Donor

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    Trump made America great again???

    Did he resign?
     
    Last edited by a moderator: May 14, 2019
    Frank, May 10, 2019
    #2
  3. Wildjoker5

    Wildjoker5 Well-Known Member

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    Not really. Its the boom in economy that outpaced the spending. Even if we left taxes where they are, if we cuts spending, that would help out the most.

    And yes, Taxation is theft. Tax revenue has been typically 17% of GDP throughout history. 17% of ALL types of taxes.
     
    Last edited by a moderator: May 14, 2019
    Wildjoker5, May 10, 2019
    #3
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  4. Jestsayin

    Jestsayin Well-Known Member Past Donor

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    I love stuff like this especially because President Trump has a full year and a half before his second term starts.
     
    Jestsayin, May 10, 2019
    #4
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  5. MolonLabe2009

    MolonLabe2009 Banned

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    Why would he resign?
     
    MolonLabe2009, May 10, 2019
    #5
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  6. rahl

    rahl Banned

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    It is a mathematical impossibility to increase revenue by cutting the rate at which we collect it.
     
    Last edited by a moderator: May 14, 2019
    rahl, May 10, 2019
    #6
  7. Frank

    Frank Well-Known Member Past Donor

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    To make America Great Again.

    Right?
     
    Frank, May 10, 2019
    #7
  8. Hotdogr

    Hotdogr Well-Known Member Past Donor

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    Only if you disregard half of the factors in play.
     
    Hotdogr, May 10, 2019
    #8
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  9. rahl

    rahl Banned

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    Nope. It’s basic math. Had tax rates not been cut, we would have collected more revenue.
     
    rahl, May 10, 2019
    #9
  10. MolonLabe2009

    MolonLabe2009 Banned

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    Not true.
     
    MolonLabe2009, May 10, 2019
    #10
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  11. MolonLabe2009

    MolonLabe2009 Banned

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    Trump being President is Making America Great Again.

    Try to keep up.
     
    MolonLabe2009, May 10, 2019
    #11
  12. nopartisanbull

    nopartisanbull Well-Known Member

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    Monthly Treasury Statement, April 2019 versus April 2018


    Individual Tax Deposits, near the same as last year, up $6 billion

    Corporate tax Receipts, near the same as last year, up $3 billion

    Withheld income tax, up $14 billion

    Withheld employment/payroll, up $6 billion

    Other taxes and duties, down $3 billion

    Surplus down $54 billion

    Total receipts, up $25 billion

    Total outlays, up $80 billion

    https://fiscal.treasury.gov/files/reports-statements/mts/mts0419.pdf
    https://fiscal.treasury.gov/files/reports-statements/mts/mts0418.pdf

    More comparisons;

    Mar 2019 Individual tax deposits; $17 billion
    Apr 2019 Last minute Individual tax deposits; $284 billion
    Thus, tax deposits from last minute filers = $267 billion
    Apr 2019 Surplus; $160 billion
    Apr 2019 Outlays; Up $80 billion

    Excluding tax deposits from last minute filers;
    Deficit; $107 billion ($267 billion tax deposits - $160 billion surplus)

    In other words, May/Jun/Jul/Aug/Sep, we'll "most likely" be back to monthly deficits due to the fact outlays have increased.
     
    nopartisanbull, May 10, 2019
    #12
  13. ToddWB

    ToddWB Well-Known Member Past Donor

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    In a booming economy, (brought on by letting people keep more of what they make) there are more taxpayers.
     
    ToddWB, May 10, 2019
    #13
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  14. US Conservative

    US Conservative Well-Known Member Past Donor

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    MAGA all the things.
     
    US Conservative, May 10, 2019
    #14
  15. TCassa89

    TCassa89 Well-Known Member

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    You do realize that April of 2018 had a surplus of $214.3 billion, yet the fiscal year ended with a $779 billion deficit?

    You should also know that the deficit for the fiscal year so far this year (including the April surplus) is running a $530.9 billion deficit, where as at this exact point last year it was a $385.5 billion deficit. In other words, the deficit this year is higher than last year.. so why is there a surplus in April? There's almost always a surplus in April, because that's when taxes are due

    <Mod Edit>
     
    Last edited by a moderator: May 14, 2019
    TCassa89, May 10, 2019
    #15
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  16. rahl

    rahl Banned

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    Demonstrably true
     
    rahl, May 10, 2019
    #16
  17. rahl

    rahl Banned

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    There is always more tax payers, year over year. The economic trend has been on the exact same unchanging trend since 2010. It remains a mathematical impossibility to increase revenue, by cutting the rate at which you collect revenue.

    This is why republicans should be barred from holding public office. They are completely incompetent fiscally.
     
    rahl, May 10, 2019
    #17
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  18. Yulee

    Yulee Well-Known Member

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    Holy cow. That’s some facts.
     
    Last edited: May 10, 2019
    Yulee, May 10, 2019
    #18
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  19. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    Theres nothing 'basic' about large scale economics. Psychology, sociology, politics and global trade are just some of the interconnected dynamics within the system.
     
    Last edited: May 10, 2019
    modernpaladin, May 10, 2019
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  20. rahl

    rahl Banned

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    All subject to the laws of math.
     
    rahl, May 10, 2019
    #20
  21. TCassa89

    TCassa89 Well-Known Member

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    It's pretty basic stuff, the deficit in 2017 was around $500 billion, the deficit in 2018 was $779 billion, the deficit for 2019 is on pace to be around $1 trillion, and the 2020 deficit is expected to go even higher. The fact that anyone believed we're on a projection for a surplus is astounding. It's on the same level as believing that 1+1=3


     
    Last edited: May 10, 2019
    TCassa89, May 10, 2019
    #21
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  22. Larryjohn

    Larryjohn Active Member

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    • Insulting or personally attacking other posters (Rule 2/3)
    <Rule 2/3>

    Example
    20% tax of $1000 = $200
    15% tax of $2000 = $300
     
    Last edited by a moderator: May 11, 2019
    Larryjohn, May 10, 2019
    #22
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  23. Larryjohn

    Larryjohn Active Member

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    Is this on the level like believing a man could be a woman?
     
    Larryjohn, May 10, 2019
    #23
  24. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    Yes, if you can correctly quantify all the variables.

    ...which no one can.
     
    Last edited: May 10, 2019
    modernpaladin, May 10, 2019
    #24
  25. 61falcon

    61falcon Well-Known Member

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    MEANWHILE the deficit for the first seven months of fiscal 2019 is running 37.7% higher than 2018 at $530.9 BILLION and is expected to be $1.1 TRILLION for the full fiscal year.He's spending like there's no tomorrow.
     
    61falcon, May 10, 2019
    #25
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