Two years in, Trump tax cuts not
on course to pay for themselves
Washington Examiner,
by
Nihal Krishan
Original Article
Posted By: prouddad,
10/28/2019 4:30:49 PM
After two years, President Trump's tax cuts are not on track to pay for themselves, the latest Treasury data released Friday suggest.
Total federal government revenues ended up lower in 2019 than was projected before the passage of the GOP tax overhaul in 2017.
Then, in 2017, the nonpartisan Congressional Budget Office projected that fiscal 2019 revenues, without the tax cuts, would be $3.69 trillion. Instead, revenues with the tax cuts were only $3.46 trillion.
Reply 1 - Posted by:
Timber Queen 10/28/2019 4:39:17 PM (No. 220307)
Perhaps if Congress actually held appropriations hearings (remember those?) and produced a budget the country could get a handle on spending. Its a not a revenue problem. Its the waste of our money on witch hunt investigations and fake impeachments.
MAGA - Even if they gag on it.
12 people like this.
Reply 2 - Posted by:
Jesuslover54 10/28/2019 4:40:11 PM (No. 220308)
Why do they always say 'the nonpartisan Congressional Budget Office'? When has it ever been that?
In a couple of weeks they'll come in with the revised numbers, then we'll see.
10 people like this.
Reply 3 - Posted by:
DVC 10/28/2019 5:08:43 PM (No. 220324)
Never lose track of the fact that the Examiner is a NeverTrump outlet.
13 people like this.
Reply 4 - Posted by:
Ida Lou Pino 10/28/2019 5:17:08 PM (No. 220337)
#3 is correct.
The Examiner started as a "conservative" alternative to the farcical and execrable Post - - then went full-out NeverTrump berserko. I'd never give these losers a click.
9 people like this.
Reply 5 - Posted by:
jeffkinnh 10/28/2019 5:40:23 PM (No. 220368)
Leftist doublethink.
The federal government revenue being lower is not a "bug", it's a feature. The government under BO was overspending. It still is. If the spending was adjusted down to appropriate levels, the income would be sufficient. Meanwhile, people are taking home the extra money from increased wages and lower taxes. I would rather the workers got the money rather than the government. They are spending it, stimulating the economy. Business is spending the corporate tax breaks, increasing productivity and stimulating the economy.
The NeverTrumpers are fixated on the debt because it is an area that still needs work. The tax cuts didn't cause the debt. The balance should be to reinvigorate the economy, reduce taxes, and reduce spending. We have 2 of 3. If the Republicans had guts, we would probably have spending reductions as well.
3 people like this.
Reply 6 - Posted by:
Clinger 10/28/2019 5:50:17 PM (No. 220382)
The very notion that a tax cut needs to be paid for speaks volumes. It's our money not the governments. The mere mention of a need to pay for a tax cut presumes it's the governments money first. That infuriates me. The rumbling sound you hear are our founders rolling over in their graves.
Furthermore the fact that the government managed to outspend the record tax collections does not equate to the tax cuts failing to generate more collections.
7 people like this.
Reply 7 - Posted by:
earlybird 10/28/2019 6:27:49 PM (No. 220404)
I like to go and have a look at who is lecturing us. Here’s reporter Nihal from his very own Washington Examiner bio:
Nihal Krishan is an economics policy reporter for the Washington Examiner. He came to the Examiner from Mother Jones, where he covered national politics with a focus on campaign finance and tech policy. His work has been published in the Boston Globe, USA TODAY, the Huffington Post, the Arizona Republic, and he’s appeared on NPR, SiriusXM, and PBS Arizona. A graduate of Arizona State University's Walter Cronkite School for Journalism, he learned to love biking and backpacking in the southwest. Krishan is a TCK who grew up in South Korea, Saudi Arabia, India, and Singapore.
And for those like me who wondered what a TCK is…Third Culture Kid. In this case, none of the above? Anyway, I’ll take Kudlow and Rice and Mnuchin any time. Sorry, Nihal...
4 people like this.
Reply 8 - Posted by:
JackBurton 10/28/2019 6:55:05 PM (No. 220420)
what i've read is that revenues (taxes) have increased.
I don't know where these guys get their figures.
2 people like this.
Reply 9 - Posted by:
David Key 10/28/2019 7:03:26 PM (No. 220422)
BS, economic projections are economic guess's, the reality is that tax receipts for 2017 and 18 were higher than the previous years tax receipts. This with the Trump Tax cuts proves that the cuts had no negative impact on Federal tax receipts. Saying that tax receipts were less than the Fed's guessed they would be is just smoke and mirrors. This is the typical beltway logic, minor decreases in actual increases blared forth as massive cuts in spending. Same old same old BS like I said.
1 person likes this.
Reply 10 - Posted by:
judy 10/28/2019 7:10:04 PM (No. 220426)
Compare your take home pay today to Obama’s 8 years, compare your health care cost , child care credits, deductions, compare employment numbers, compare manufacturing jobs that Obama said we’re gone forever.
2 people like this.
Reply 11 - Posted by:
kono 10/28/2019 8:54:43 PM (No. 220497)
Projections and reality are totally different things, and anybody treating projections like some sort of reality before the reality are humping your leg. Had Trump gotten no tax changes, the revenues would have differed from projections. These reports always present opportunities for everybody to spin a bunch of narrative-conforming articles, i.e. fake news, and this article's a perfect example.
1 person likes this.
Reply 12 - Posted by:
Paglia guy 10/28/2019 9:03:16 PM (No. 220498)
The weekly standard Examiner is not to be trusted. Look at this joker’s resume!
2 people like this.
Reply 13 - Posted by:
anniebc 10/29/2019 12:00:13 AM (No. 220567)
What does tax cuts paying for themselves even mean? I can't.
0 people like this.
Reply 14 - Posted by:
Trigger2 10/29/2019 1:24:12 AM (No. 220629)
This article is a lie. Tax revenues to the thieves in DC are up and more than make up what they were collecting before.
0 people like this.
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