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Tax rates cut and tax revenues rise? How does that happen?

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flyangler

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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

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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:theman:

 

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 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"
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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

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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

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