POLITICS President Trump: 100+ Mornings After (Term 1 Complete)

According to article, IRS processed 1.5% more individual tax returns in 2018 than 2017 which was a big part of the $93B increase.

It should also be noted that in 2018 corporations paid $91B less in taxes than 2017.

On the surface it would appear that the individual taxpayer paid for the corporate tax break.

 

If the revenue is net higher and most Americans paid less how do you figure individuals paid for the tax break?

 

IIRC, the article was not talking net TOTAL tax revenue. The increased tax revenue was net higher on INDIVIDUAL returns only.

As the article said (and 53 simplified), the IRS processed 1.5% more INDIVIDUAL tax returns which were a big part of the increase. Taxes for larger corporations are not part of this tax revenue increase.

 

But they did invest that money and expand operations which turned around and created more tax revenue by more individuals working.

Which is leading to more people building and spending money.

I’m building a garage and had a guy come pour my slab for me. He’s been building since the 80’s. He said this is the busiest he’s ever been, even more than the 90’s.

He’s went from working 12 full time to working 30.

I don’t see how that’s a negative.

Unless you’d rather have less people working but you get to pat yourself on the backs about corporations having taxes more.

 

if this is true, how do you explain the individual increase and corporate decrease being equal? looks like all it did was benefit corporations, and tax revenue stayed the same.

 

What he meant to say was that corporations got a tax break and used it to hire people, who then paid taxes out of the money earned from those new jobs.

And we earned another $2B, beyond the corporate tax cut.

Ostensibly, he’d rather have corporations pay $2B less than normal, but have higher unemployment.

 

No total tax revenue is also higher. And again they processed more returns because more people are working not because tax rates for individuals were higher

 

Total tax revenue is up. Incomes are up. Employment is up.

 

Saying individuals paid for the corporate tax rate is akin to saying taxpayers are paying for abortions if we fund birth control at planned parenthood

 

This is a good thing, no matter who gets credit for it

 

Well...

 

and the deficit is up. and the tax burden has shifted.

 

it's not the full picture

 

How has the tax burden shifted? Individuals are paying less than before and the poor and middle class are paying the lowest percentage in modern history. If anything it’s shifted to rich people taking a higher burden. The majority of taxes has always been personal income taxes btw

 

I haven't said anything contradictory to that. however, it highlights why saying "revenue is up" while leaving out the deficit is misleading. how common is it for revenue to go up? wanna look at a graph and see the trend since forever? it's a [uck fay]ing participation ribbon of a remark for people who want to feel good about the fact they are pushing debt on future generations while simultaneously maneuvering to slash any and all government expenditures that provide any service or opportunity.

you guys have kids, for [uck fay]'s sake.

 

If think revenue going up despite tax cuts means nothing I don’t know what to tell you. Why are you only focused about the revenue side when thinking about your children?

 

I believe tax receipts are at their highest level ever which suggests trump’s tax plan is sustainable. Now he needs to actually cut spending like he said he would

 

The common refrain was trump’s economic and tax projections were impossible and way too optimistic and to date both are ahead of projections. Now people are arguing it was inevitable?

 

To be clear, I am not saying the economy has not improved for some. However, the total tax revenue declined in 2018 according to data I have seen. Here is one article on the subject.

https://www.google.com/amp/s/www.ws...-tax-revenue-declined-0-4-in-2018-11550084426

 

Of course it declined in the first year of the tax cut. It would be impossible for it to not. I’m talking about today.