Which proves once again that marginal tax rate reductions INCREASE revenue.
Re: “Which proves once again that marginal tax rate reductions INCREASE revenue.”
Tragically, it also proves - once again - that every time you give politicians more money, they will increase spending and borrow more money!
Compare Trump’s Fiscal 2018 numbers to Obama-Trump’s Fiscal 2017 numbers.
Data from the July 2018 Treasury YTD Monthly Statement...
Trump - YTD - increased revenue by $26 billion.
Trump - YTD - increased spending by $145 billion
Trump - YTD - increased deficit spending from $566 billion to $684 billion
Data From: Table 3 - Summary of Receipts and Outlays July 2018
https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0718.pdf