Posted on 02/08/2018 2:09:18 PM PST by mandaladon
Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves.
That wouldn’t be fair, either. As the CBO notes, the new payroll withholding scheduled hadn’t fully taken effect in January; companies don’t have to update their employee tax withholdings until the middle of this month. When that happens, monthly revenues from individual income taxes will likely slip.
But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.
(Excerpt) Read more at hotair.com ...
Blue states salivating over tax increases.
To those not wearing liberal goggles, the CBO static scoring of tax cuts has been a laughingstock for decades.
... i’m Having a tinfoil hat theory. Donald and Republicans coming up in polls. The swamp hasn’t been able to destroy him with Russia Russia, the economy is their next weaponized weapon to use on him — so like bingo market down, down, crash it and blame the R’s and Donald. This can’t be about interest rates because the economy can easily handle an increase. Who rolls big, big money all over the globe destroying economies in its wake...?
Why do so many assume a capitalistic economy is static?
This is exactly what happened under Reagan. He cut taxes, and increased revenue started pouring in. The Democrats spent every penny plus a whole lot more. Then for years afterward they propagated the lie that tax cuts raise deficits.
History is repeating. The DC politicians are snakes.
Hmmm - 12x18 billion = 216 billion - pretty well pays in one year for the increased spending in the two year Senate budget deal....
NO deficit Spending...
At all.
The have a YUGE plenty of spending to slosh around.
We have a problem here with a hot economy and high housing prices. The market is responding by building more housing. Simple supply and demand, right? So, of course, a liberal group wants to impose new construction limits. Go figure.
We have to fund ever-expanding government spending until total collapse.
Only people who do not understand the economics of a free market system. “Milton Friedman - The Lesson of the Pencil”
I had to point out to a Liberal coworker today (she’s a PhD in laser physics) that cutting tax rates does not necessarily lead to reduced tax intake.
Nearly everyone who was dumping stock these last few days is going to have to report Capital Gains.
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