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Income Tax Revenues Are Up 9% This
Year — Is Trump Tax Cut Paying For Itself?

Investor´s Business Daily, by Staff

Original Article

Posted By:RockyTCB, 7/12/2018 6:43:57 AM

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb. The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That´s a 9% jump, even though the lower income tax withholding schedules went into effect in February. The CBO says the gain "largely reflects increases in wages and salaries." For

      


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Reply 1 - Posted by: Uno, 7/12/2018 6:59:17 AM     (No. 11691610)

Not too difficult to imagine that Mexico will pay for the wall now, huh?
The Left just can´t deal with the fact that the man keeps his promises and knows what he´s talking about! Meanwhile they are being led by a delusional old bat who is is more confused than a mood ring on a paranoid, bi-polar, schizophrenic chameleon trapped in a bag of Skittles! Pass the popcorn!!

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Reply 2 - Posted by: M2, 7/12/2018 7:43:59 AM     (No. 11691652)

#1 beat me to the idea that Trump was right again about Mexico paying for the wall. If they don´t, though, we´ll have more than enough to pay for it ourselves, then charge exorbitant rates for Mexican products and services.

I am still waiting for business owners to be heavily fined for hiring illegals. That will be the defining measure for halting illegals here.

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Reply 3 - Posted by: Mobyclik, 7/12/2018 7:44:09 AM     (No. 11691654)

$76 Billion in 6 months? The Rats could blow through that in a nanosecond. Yep, we need them back in power in DC.

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Reply 4 - Posted by: Clinger, 7/12/2018 8:12:06 AM     (No. 11691694)

Wait what, I thought "trickle down" economics didn´t work. Now this, just like it worked for Cooledge, Kennedy, Reagan, Bush, cripes if I didn´t know better I´d swear there´s a pattern here. Some guy named Lafer should graph the curve.

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Reply 5 - Posted by: MDConservative, 7/12/2018 9:25:56 AM     (No. 11691777)

So, if revenues are up due to the tax cut, cut the taxes again. Taking more money out of the economy is not good for the economy. Put that $76 billion back into circulation or available investment capital, let it compound the good it is doing.

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Reply 6 - Posted by: Peaches, 7/12/2018 9:31:51 AM     (No. 11691781)

Poster #1 wins the Internet today!

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Reply 7 - Posted by: dvc, 7/12/2018 9:36:19 AM     (No. 11691788)

Once again, we see that the insane, ignorant Marxist economics are WRONG, and again, tax cuts INCREASE tax revenue, as they have always done.

Of course, at some point in the future, when more tax cuts are suggested, the idiots in the media and in Congress will scream about the lost revenue.

They cannot learn, because they know no history.

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R-TA-Wide_2
  


 
Reply 8 - Posted by: Davids918, 7/12/2018 12:41:47 PM     (No. 11692047)

So, despite the increase in income tax revenues, the overall increase is only $31 billion, and spending is up $115 billion due to automatic entitlement spending.

What I suspect is needed, and could be a significant campaign issue, is to push for greater efficiency, less redundancy and increased productivity from government programs.

Technology should help in most of those, and if they could achieve 1% reduction in total spend by employing all 3 of above it would help reduce the burden on taxpayers.



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