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Tue Jun 12, 2018, 09:58 PM

 

Damn Trump Tax give away: Feds Collect Record Individual Income Taxes Through May

(CNSNews.com) - The federal government collected a record $1,143,141,000,000 in individual income taxes through the first eight months of fiscal 2018 (Oct. 1, 2017 through the end of May), according to the Monthly Treasury Statement released today.

Despite the record individual income tax collections, the federal government still ran a deficit of $532,241,000,000 over those same eight months, according to the Treasury statement.

We don't have a revenue problem we have a spending problem.

https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-individual-income-taxes-through-may-still-run

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Reply Damn Trump Tax give away: Feds Collect Record Individual Income Taxes Through May (Original post)
WTFhappened Jun 2018 OP
cologeek Jun 2018 #1
WTFhappened Jun 2018 #2
FreeWheelBurning Jun 2018 #3

Response to WTFhappened (Original post)

Tue Jun 12, 2018, 11:27 PM

1. As I recall the same thing happened with President Reagan's tax cuts in the 80's

There was an increase in tax revenue from the economic growth but the Dems in Congress refused to cut spending. Instead they sent him increases in the Federal budget.

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Response to cologeek (Reply #1)

Tue Jun 12, 2018, 11:32 PM

2. The same happened with JFK's tax cuts

 

Lyndon Baines Johnson spent the increased revenue on the Negro vote.



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Response to cologeek (Reply #1)

Wed Jun 13, 2018, 08:08 AM

3. Both Reagan and Trump share some of the blame

They both signed the bloated spending bills.

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