The public deserves to know the truth about tax rates before Democrats let the Trump 2017 tax cuts expire

American Thinker ^ | 05/12/2024 | Jack Hellner

[SeekAndFind]

President Biden wants to let the tax rate cuts that President Trump and Republicans passed without Democrat support, in 2017.

Biden and others continue to intentionally lie that the tax cuts "cost" the government $2 trillion and increased the debt and deficit.

That essentially was the prediction of Congressional Budget Office.

The problem is predictions are not facts.

Here are the facts that show that the government has collected a huge amount of additional revenues after the tax cuts were passed, and additional revenues do not cause increased debt.

The problem is that the government is spending more.

Individual income tax revenue FY 2017 before the tax rate cuts $1.6 trillion.

FY 2021 - Individual income taxes, four years after the tax rate cuts, despite COVID: $2.0 trillion, $400 billion more per year.

FY 2023 - Individual Income Taxes, six years after the tax rate cuts: $2.2 trillion, $600 billion more per year.

Biden also continues to lie that only the rich benefitted from the tax cuts when everyone who pays taxes has benefitted. Then he lies that the rich pay less than people in the middle class, in order to gin up class warfare.

[roving]

Trump will be in office before it expires.

[ding_dong_daddy_from_dumas]

45% of returns owe $0.

After subtracting automatic paycheck withholding? When most of them file a return, they already paid a bundle. How much would they owe if they had zero withholding?

[Vermont Lt]

It’s easy. Go back to your 2016 return.

If your property taxes are high, it might just be better for an individual. Of course, jacking up corporate taxes would be the death knell for the economy.