queridiculo wrote:You have ignored to read what I have posted, it spells out precisely why the assertion you are making is factually incorrect.
You cannot ignore that one of the core drivers of the increase in the deficit is the lack of receipts as a result of the tax reform.
Wrong. And in fact [b]this is a lie. Tax receipts in 2018 are up from both 2017 and 2016 [/b] 5.2% in Q2 and Q3 and 6.6% in Q1. And almost 6% on the year!!!! (sorry Doc, i know you dont like being directed on how to read

)
DCkings keeps "lying" about this as well. He doesn't like Trump and doesn't want to give Trump the win. He knows damn well that tax receipts are up almost 6% but he keeps tying the tax plan and the deficit together just to say "the tax plan is not working." fact is the tax plan is working and tax revenue increased and at record highs. Almost $1.3 Trillion higher than 2010. and almost 6% this year over last year. Spending is up too. and that is why the deficit is larger but that has NOTHING to do with the tax plan...which, again,
is working.
The tax plan has worked because it both triggered the economy into more growth and repatriated corporate funds from over seas.
Its a chess vs checkers approach. And I understand that many here may not understand tax revenue fully like Nate does. Like Popper does. Or other accountants and small business owners that have been doing their own taxes for decades. It just may not be your thing...but by strictly looking at tax rates (21.5% vs 39.6%) its like strictly looking at FG% and not considering TS% and also not factoring in usage%.
It's a chess over checkers metaphor. In advanced stats we look deeper than surface level stuff like tax rates. We have to understand that it is better to receive 21.5% of something than 39.6% of nothing. So repatriating corporations is a major issue... And as those corporation come back, foreign markets will weaken because their revenue will decrease. As they weaken they will become less stable which will scare of the remaining stragglers and they too will repatriate over time...and more and more of those corporations will return.
there may even come a point to where foreign markets will struggle as the US markets boom and even foreign(global) corporations will look for stability in US markets. Our current 21.5% corporate rates will be more appealing than our past 39.6% rate were not...they would rather deal with the flotsom and jetsom of a turbulent foreign economy and pay 10% rates (and lower) elsewhere than pay 39.6%. But with a competitive 21.5%, they will look to the US for cover is necessary.
^^and that's why trump is simultaneously putting pressure on them for Trade balance and hitting them with tariffs. As well as calling on foreign states to secure Nato commitments. Combined, the plan is to: repatriate wealth, repatriate corporations, which also Bring jobs back, balance trade, and charge for tariffs where trade is not balanced.
As of right now? in 2018? its working. revenue is up and
Popper has demonstrated that.
Furthermore, This is where D's and left is being completely disingenuous in saying that there is "less tax money coming in." No there is not less and in fact tax revenue is up. And in fact, we still have massive US corporations on the sidelines that still have their corporate headquarters off shore paying their taxes to foreign states (but most have repatriated their corps). Trillions of "corporate profits have been repatriated resulting in Billions of tax revenue
due to the tax plan itself and lowered corporate rates.
And overall tax revenue is up 6% in 2018. That's a fact. And MSM wont talk about it. No one is talking about it...because the left has Trump mired in fake scandal and that is all they talk about. so right wing media instead, daily, defends the president instead of talking about real wins. This tax plan is a major major major win for the American people! Huge win!!! And if you give Trump the win and explain this tax plan to the left's base, 3% of them might actually like what trump is doing.<--which secures his victory in 2020 and might even bring the house back red with it.
And that's the problem with US politics. We have a tax plan that is working better for all americans right now. I mean we have NOT even talked about the historically low UE rates but that is due to the growth! And the growth is due to the tax plan. And the tax plan has brought us increased revenue not decreased.
...and I'm going to tie
Doclinkin in on this thread...because there is a gross misunderstanding of tax revenue. Its a chess vs checkers approach...and most importantly this is an issue that there should be common ground from the left and the right. because there are stable US Allies with both stable governement and stable banking that give special rates to our largest US(global) corporations. Ireland is the standard example where they offer Apple and others a 10% corporate tax rate...and this is a conundrum on multiple levels. Ireland is an Ally. The US is filled with those with Irish decent. Ireland doesn't create problems. But the fact is that Apple Corp only pay 10%
if our corporate tax rates are not competitive...US corporations will locate their corporate headquarters overseas and pay federal taxes to a different state altogether. WE MUST COMPETE. Now if i were in charge i would make it illegal for say apple corporation to park its head quarters overseas just so it can pay 10% federal income taxes to ireland and almost nothing to the USA. <--which would be a huge loss for the USA (our citizens). I haven't checked in awhile...but Apples annual profits are near $200-500 billion annually. 21.5% of $500 Billion a lot of money!! But instead in Ireland they only pay 10%. In grand caymen they would pay even less.
Apple is not alone. Many US-Global corporations like Apple "shop" for better rates to avoid the US tax code as much as possible. And apple is not alone. All they need is a stable federal government because the only fear is their funds being naturalized. Most of our major US corps that do global business do their accounting in foreign shores. Why? Why we allow this is beyond me. Apple gets away with it because they truly have a global product. If US consumers boycott, Apple will still be able to sell around the globe.
So we didn't lower the taxes to give Apple a free gift. Apple was paying minimal taxes to the US federal government as it was with our 39.6% corporate tax rates. We lowered the tax rates to 21.5% so Apple would be motivated to repatriate their corporate headquarters and pay their taxes here in the USA and 21.5% instead of 10% to the State of Ireland.
Now let's talk about trade!!
Now let talk about tariffs. Tax revenue and tariff revenue is separate. I believe the increased tariff revenue is over $100 billion year to date and might approach $200 billion on the year. add that to the tax revenue and we have a US governement is raking in revenue at record levels by 7-8%.
Nearly everyone is employed.
Credit markets are wide open! Whoever wants a loan can get a loan right now.
A new nafta will create even more us manufacturing in 2019. and even more revenue.
China trade deal is on deck.
But let's talk about Mueller!! Lets charge more people with perjury!!
like i said, its a full rebuild.