JimW Posted July 13, 2018 Report Share Posted July 13, 2018 Half of the period in discussion was before tax cuts were enacted. "I have ... put a lump of ice into an equal quantity of water ... if a little sea salt be added to the water we shall produce a fluid sensibly colder than the ice was in the beginning, which has appeared a curious and puzzling thing to those unacquainted with the general fact."- Joseph Black Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 Cool Link to comment Share on other sites More sharing options...
PatchyFog Posted July 13, 2018 Report Share Posted July 13, 2018 17 mins ago, tomkaz said: Focusing on one month is disingenuous at best. Carry on. Focusing on 6-months is disingenuous at best. Carry on. Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 Just now, patchyfog said: Focusing on 6-months is disingenuous at best. Carry on. Good one! Link to comment Share on other sites More sharing options...
PeterO Posted July 13, 2018 Report Share Posted July 13, 2018 (edited) 22 mins ago, tomkaz said: First, there are two reports produced each month, one by Treasury and one by CBO. I am talking about the latter, you the former. Second, I was referencing the first six months of CY2018, not a single month. Third, “CBO estimates that the federal government realized a deficit of $75Bn in June 2018, $15Bn smaller than the shortfall in June 2017. Fourth, CBO observes “Withheld taxes declined in June for two reasons. First, June 2018 had one fewer workday than June 2017. Second, the share of wages withheld for taxes was lower...... Lastly, Total Spending in June 2018 was $389Bn, CBO estimates, $40Bn less than the sum in June 2017. Focusing on one month is disingenuous at best. Carry on. I understood them to be different reports and not apples to apples which you, being an extraordinarily keen observer of the obvious, recognized and was kind enough to point out for the benefit of the Koolaid addled minds reading this And you only copied part of my post, leaving out the following which addresses your Third and Lastly above: 37 mins ago, PeterO said: Even though revenues fell, the budget deficit narrowed to $74.86 billion in June, compared with $90.23 billion in June 2017, due to a 9% drop in government outlays. The spending decline largely reflected some accounting shifts and not actual spending changes. For instance, the Education Department revised estimates for the net costs of past loans and loan guarantees, according to a Congressional Budget Office analysis. disingenuous? Edited July 13, 2018 by PeterO "My mind is aglow with whirling, transient nodes of thought careening through a cosmic vapor of invention."Hedley Lamar"It wasn't the bullet that laid him to rest, was the low spark of high-heeled boys"Jim Capaldi & Steve Winwood Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 Being upset that tax rates went down without hurting revenue is like getting upset that your wife lost weight and her tits didn't shrink. Link to comment Share on other sites More sharing options...
epanzella Posted July 13, 2018 Report Share Posted July 13, 2018 Just like they made excuses for the increased revenues every other time taxes were lowered, the people who can't figure out how a hot dog wagon works will be making excuses this time. At least we finally have a president who understands how the real world works. Ed Panzella "BAITS MOTEL" - 2450 Maycraft Pilothouse Higganum, Ct Link to comment Share on other sites More sharing options...
epanzella Posted July 13, 2018 Report Share Posted July 13, 2018 14 mins ago, JimG said: Being upset that tax rates went down without hurting revenue is like getting upset that your wife lost weight and her tits didn't shrink. But what if she was seeing Trump on the side? Ed Panzella "BAITS MOTEL" - 2450 Maycraft Pilothouse Higganum, Ct Link to comment Share on other sites More sharing options...
The Dude Posted July 13, 2018 Report Share Posted July 13, 2018 33 mins ago, JimG said: Being upset that tax rates went down without hurting revenue is like getting upset that your wife lost weight and her tits didn't shrink. Revenue is going down. Plus, my taxes went up. Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 Why.. because you think tax rate cuts always lead to lower revenue? I dont care about your personal situation. Pay your fair share Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 And tax revenue almost always goes up. Even after tax cuts Link to comment Share on other sites More sharing options...
The Dude Posted July 13, 2018 Report Share Posted July 13, 2018 I don't think that and have said as much in this thread. Try to keep up. Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 I'm keeping up. Is tax revenue up or down dude? You said it's going down. Is it down or up? Link to comment Share on other sites More sharing options...
The Dude Posted July 13, 2018 Report Share Posted July 13, 2018 It is slightly up in the short term, and will be down in the longer term according to the CBO projections. It's based on more factors than just tax cuts as well. Growth has a lot to do with it. Link to comment Share on other sites More sharing options...
JimG Posted July 13, 2018 Report Share Posted July 13, 2018 5 mins ago, The Dude said: It is slightly up in the short term, and.... K thanks Link to comment Share on other sites More sharing options...
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