Trump Tax Cuts.....
Jan 26, 2023 17:24:14 #
Democrats including Joe Biden love to say that Trump's tax cuts are responsible for a large amount of the Federal deficits.... Not true, in fact just as the republicans said they would they have had a substantial positive effect on tax receipts....
"The federal government collected a record $4,896,119,000,000 in total taxes in fiscal 2022 (October 2021 through September 2022), according to the Monthly Treasury Statement released today.
That was up $518,302,170,000—or 11.8 percent--from the previous record of $4,377,816,830,000 (in constant September 2022 dollars) that the federal government collected in fiscal 2021."
2017 tax receipts the year before the new tax law went into effect were $3.32 trillion.
"The federal government collected a record $4,896,119,000,000 in total taxes in fiscal 2022 (October 2021 through September 2022), according to the Monthly Treasury Statement released today.
That was up $518,302,170,000—or 11.8 percent--from the previous record of $4,377,816,830,000 (in constant September 2022 dollars) that the federal government collected in fiscal 2021."
2017 tax receipts the year before the new tax law went into effect were $3.32 trillion.
Jan 26, 2023 18:03:22 #
Blurryeyed wrote:
Democrats including Joe Biden love to say that Tru... (show quote)
How much would the income have been be without the trump corporate tax cut that added nothing to the economy .?
How much would the income have been there were no trump tax cut?
Speaking in absolutes without context is meaningless.
There can be no doubt in anyones mind the trump tax cut decreased both corporate tax revenue and revenue from personnel income tax. To imply the trump tax cuts increased federal revenue is wishful thinking and nothing more
Jan 26, 2023 19:00:55 #
DennyT wrote:
How much would the income have been be without the trump corporate tax cut that added nothing to the economy .?
How much would the income have been there were no trump tax cut?
Speaking in absolutes without context is meaningless.
There can be no doubt in anyones mind the trump tax cut decreased both corporate tax revenue and revenue from personnel income tax. To imply the trump tax cuts increased federal revenue is wishful thinking and nothing more
How much would the income have been there were no trump tax cut?
Speaking in absolutes without context is meaningless.
There can be no doubt in anyones mind the trump tax cut decreased both corporate tax revenue and revenue from personnel income tax. To imply the trump tax cuts increased federal revenue is wishful thinking and nothing more
You're wrong Denny, look at the history of federal receipts, the tax cuts did exactly what the republicans said they would. Tax less and get more.
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Jan 26, 2023 19:44:50 #
Blurryeyed wrote:
You're wrong Denny, look at the history of federal receipts, the tax cuts did exactly what the republicans said they would. Tax less and get more.
Prove it !!!!
And
Here’s a question . How much of the trump personal income tax savings were eaten up paying the increased import duties thats stemmed from trumps stupid trade policies?
Jan 26, 2023 19:49:15 #
DennyT wrote:
Prove it !!!!
I already did, I showed you the increase in just 4 years.... Find a similar increase under the Obama administration, Obama if I remember correctly raised taxes, how did that pan out?
Jan 26, 2023 20:02:52 #
The fact that tax revenues increased in FY 2022 does not mean that the Trump tax cuts worked. There is no direct cause and effect between one and the other. You could also make an argument that the increase in revenues is a result of Biden's economic policies. Both arguments ignores the complex economic factors that determine tax revenues. Tax revenues are impacted by a number of factors, such as inflation, economic growth, employment levels, and, in this case, fiscal impacts from the Stimulus Act. A meaningful statistic would be a comparison of FY 22 tax revenues with what those revenues would have been had the Trump tax cuts not been enacted into law.
Jan 26, 2023 21:23:32 #
Blurryeyed wrote:
I already did, I showed you the increase in just 4 years.... Find a similar increase under the Obama administration, Obama if I remember correctly raised taxes, how did that pan out?
No you showed a revenue increase with absolutely no substantiation concerning what drove it. The biggest being obviously the opening of the American economy post c***d
You proved nothing . It is entirely and probably true the revenue increase would have been even larger if the trump tax cuts would not have happened.
Again you proved nothing
You have implied one or both of two premises
1. That trumps tax cuts lessened the deficit . You have no idea, the deficit may have been less without his cuts
Or
2. They did not effect the deficit again no data support that
No proof .
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Jan 27, 2023 06:10:37 #
DennyT wrote:
No you showed a revenue increase with absolutely n... (show quote)
The proof is the historical receipts.... You have nothing other than liberal rhetoric with which to dispute my claim.
Jan 27, 2023 06:34:24 #
Blurryeyed wrote:
The proof is the historical receipts.... You have nothing other than liberal rhetoric with which to dispute my claim.
All you have proven is that federal receipts rose - nothing else.
Jan 27, 2023 06:42:41 #
DennyT wrote:
All you have proven is that federal receipts rose - nothing else.
Yup, they rose significantly faster than GDP growth or inflation, that is the point.
Jan 27, 2023 08:47:52 #
Racmanaz
Loc: Sunny Tucson!
DennyT wrote:
All you have proven is that federal receipts rose - nothing else.
Did Trump's tax cuts decrease the government revenue and increased the deficit as you fraudulent Lefties claimed it would?
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Jan 27, 2023 08:49:30 #
Racmanaz
Loc: Sunny Tucson!
Blurryeyed wrote:
Yup, they rose significantly faster than GDP growth or inflation, that is the point.
You have to remember that DennyT is a fraudulent "know-it-all" fraud and is NEVER wrong about any issue.
Jan 27, 2023 09:05:24 #
Racmanaz wrote:
Did Trump's tax cuts decrease the government revenue and increased the deficit as you fraudulent Lefties claimed it would?
You can not tell by merely looking at numbers . There are to many other variables .the biggest of which was the American economy coming out of the p******c .
We do know that that america citizens paid less on taxes and corporation paid less in taxes and did not reinvest but rather paid higher dividends and did stock buybacks.
Those obviously resulted in less revenue.
Jan 27, 2023 09:07:54 #
Blurryeyed wrote:
Yup, they rose significantly faster than GDP growth or inflation, that is the point.
So what ? Now you pivot to another issue.
Your original post stated
“”” Not true, in fact just as the republicans said they would they have had a substantial positive effect on tax receipts....”””
Which was bull. Properly stated would have been
Tax revenues went up despite the trump tax cuts . And would have been even higher without the tax cut
Jan 27, 2023 09:12:53 #
Racmanaz wrote:
You have to remember that DennyT is a fraudulent "know-it-all" fraud and is NEVER wrong about any issue.
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