When will journalists and Democrats tell the truth about the tax cuts and the economy as a whole?

American Thinker ^ | 08/07/2019 | Jack Hellner

[SeekAndFind]

While the Congressional Budget Office (CBO) and other experts routinely underestimate the costs of government spending programs by huge amounts, they severely underestimate receipts and economic results when there are across the board tax cuts.  The data are readily available, and they show that after the Reagan and Bush major tax cuts, the economy improved rapidly — and tax receipts shot up.  Yet in all projections, the CBO assumes that receipts will go down and the economy won't expand much because of the cuts.

The CBO said the Trump tax cuts would cost the government $1.5 trillion over ten years, but revenues are already rising at a decent clip in the second year.

Why do journalists and other Democrats continue to repeat that Trump's tax cuts are costing trillions and helping only the rich when those are obvious lies?

The answer is that they lie about the economy for the same reasons they repeat the lies about Charlottesville.  The truth doesn't help their agenda, and the only thing that is important to journalists and other Democrats is that they get their power back.

New data from the CBO:

Total Receipts: Up by 3 Percent in the First Nine Months of Fiscal Year 2019

Receipts totaled $2,609 billion during the first nine months of fiscal year 2019, CBO estimates — $69 billion (or 3 percent) more than during the same period last year. That increase was the result of changes in receipts from the following sources:

• Individual income and payroll (social insurance) taxes together rose by $60 billion (or 3 percent). 

[SeekAndFind]

• Individual income and payroll (social insurance) taxes together rose by $60 billion (or 3 percent). 
  • Amounts withheld from workers' paychecks rose by $37 billion (or 2 percent). That change largely reflects increases in wages and salaries that were partly offset by a decline in the share of income withheld for taxes. The Internal Revenue Service issued new withholding tables in January 2018 to reflect changes made by the 2017 tax act (Public Law 115-97). All employers were required to begin using the new tables by February 15, 2018. Those new withholding rates were in effect during the first nine months of this fiscal year but for only four and a half months of the same period last year.
  • Nonwithheld payments of income and payroll taxes rose by $7 billion (or 1 percent).
  • Income tax refunds were down by $20 billion (or 8 percent), further boosting net receipts.
  • Unemployment insurance receipts (one kind of payroll tax) declined by $4 billion (or 10 percent).

[Crazieman]

When I win the lottery twice.

[SeekAndFind]

Corporate income taxes increased by less than $1 billion (or less than 1 percent). Payments received in June — the first month in which receipts consisted predominantly of estimated payments for tax year 2019 — were up by $11 billion (or 30 percent).

Here's the problem as I see it -- the problem is not increased revenue. THE PROBLEM IS EVEN AS GOVERNMENT REVENUE IS INCREASING, GOVERNMENT SPENDING IS INCREASING EVEN MORE !! BY A HUMONGOUS AMOUNT !!

With this, the deficit and debt will ALWAYS increase despite increasing revenue.

[Reily]

When they tell the truth about the futility of gun control
and its unintended consequences!

[SeekAndFind]

State Tax Revenues Are Higher Than Ever, But Good Times May Not Last

Federal tax reform and the economy are boosting state coffers — for now. 

A record 41 states collected more revenue last year than they did before the 2008 recession, even when inflation is taken into account. And in many cases, the recovery is significant. In 16 states, tax revenue was at least 15 percent higher in the third quarter of 2018 than their last peaks.

Democrats continually say that only the rich are benefiting from Trump's policies, but that is clearly another lie.  Instead of calling out the lies, most of the media just repeat them.

Workers at the lower end of the pay scale finally are getting the most benefit from rising wages

The recent jump in paychecks has come with an unusual characteristic, as workers at the lower end of the pay scale are getting the greater benefit.

Average hourly earnings rose 3.4 percent in February from the same period a year ago, according to a Bureau of Labor Statistics report last week. That's the biggest gain since April 2009 and seventh month in a row that compensation has been 3 percent or better.

What has set this rise apart is that it's the first time during an economic recovery that began in mid-2009 that the bottom half of earners are benefiting more than the top half — in fact, about twice as much, according to calculations by Goldman Sachs. The trend began in 2018 and has continued into this year, and could be signaling a stronger economy than many experts think.

For instance, retail industry employees saw an increase of 5 percent and leisure and hospitality earnings rose 4.6 percent from February 2018. At the same time, professional and business services workers gained 2.8 percent while Wall Street-related positions in finance increased just 2 percent

[facedown]

Never.

[G Larry]

Truth is the enemy of the Left.

[Lurker]

Never.

Next question.

L

[SaveFerris]

[ When will journalists and Democrats tell the truth about the tax cuts and the economy as a whole? ]

The same day that Manchurian Candidate Barack Hussein Obama tells the truth about his past, upbringing, political grooming and subversion of America.

[butlerweave]

Can you say , “NEVER”

[JBW1949]

Why would they??? It goes totally against their agenda...

[marktwain]

Leftists never tell the truth when a lie will serve them better.

They do not believe in Truth as a concept, anyway. They believe truth is what they say it is, at any time.

It is one of the reasons the left, when in power, tends to dictatorship and eating their own.

[fruser1]

When they are hanging by their necks with a rope and a sign on them saying “I betrayed my country”.

[Kickass Conservative]

Never, next question...

[babble-on]

The CBO did not, in fact, say the tax revenues would decline, so the article starts with a lie.

[NorthMountain]

When will journalists and Democrats tell the truth …"

Never.

[Sans-Culotte]

[semimojo]

Yet in all projections, the CBO assumes that receipts will go down and the economy won't expand much because of the cuts.

They predict receipts will go down relative to what they would be without the tax cut.Not down in absolute terms.

The CBO said the Trump tax cuts would cost the government $1.5 trillion over ten years, but revenues are already rising at a decent clip in the second year.

Both can be and are true at the same time.

I think one of the clearest ways to look at this is revenue collected as a percentage of GDP which is running at about 16.2%, a pretty low number historically and down from before the tax cut.

[castlebrew]

“Democrats” (aka Progressives/Socialists/Communists) and any phrase involving or referring to “truth” are mutually exclusive items.

Diametrically opposed, one might say.

[jeffc]

Leftists always ask, “How are you going to pay for that?” when talking about tax cuts, as if it is supposed to be “paid for”. But they never respond to that question when barking about free college, illegal aliens, healthcare, etc...