Waiting for the headline: 'Strong Trump economy yields record revenues'

Why do supposed journalists, in collusion with other Democrats, continue to lie to the public that Trump's tax cuts cost the government trillions of dollars when that is demonstrably not true?
 
Here's the Congressional Budget Office report about taxes and federal revenues:

Total Receipts: Up by 4 Percent in Fiscal Year 2019

Receipts totaled $3,462 billion in fiscal year 2019, CBO estimates. The increase relative to last year was the result of changes in receipts from the following sources:

  • Individual income and payroll (social insurance) taxes together rose by $107 billion (or 4 percent).
    • Amounts withheld from workers’ paychecks rose by $78 billion (or 3 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 this entire fiscal year but for only seven and a half months of the same period last year.
    • Nonwithheld payments of income and payroll taxes rose by $10 billion (or 1 percent).
    • Income tax refunds were down by $23 billion (or 9 percent), further boosting net receipts.
    • Unemployment insurance receipts (one kind of payroll tax) declined by $4 billion (or 9 percent).
  • Corporate income taxes increased by $25 billion (or 12 percent). Those receipts reflect activity in both 2018 and 2019.
 
 
It is clear that Trump's tax cuts, in conjunction with regulatory decreases, have yielded much greater economic growth than expected, which yielded higher revenue than the CBO and others projected.
 
This also happened with President George W. Bush's limited, and President Ronald Reagan's across-the-board, tax cuts.
 
It is especially impressive that the U.S economy is doing so much better than Europe's, and it is precisely because Trump's policies are so much better than policies that advocate for bigger government.
 
The deficit is up because both parties spend too much, not because corporations and individuals are taxed too little. Higher revenues can never cause an increase in a deficit. The only thing that can cause the deficit to rise is the government's insatiable appetite.
 
Isn't it the responsibility of journalists to tell the truth to the public instead of using projections or talking points in an effort to push an agenda to elect one party and destroy the other party?
 
Maybe someday the media will also report factual climate history instead of using manipulated computerized projections to push an agenda. I doubt it, because facts haven't mattered to the press for a long time.
 

 

Why do supposed journalists, in collusion with other Democrats, continue to lie to the public that Trump's tax cuts cost the government trillions of dollars when that is demonstrably not true?
 
Here's the Congressional Budget Office report about taxes and federal revenues:

Total Receipts: Up by 4 Percent in Fiscal Year 2019

Receipts totaled $3,462 billion in fiscal year 2019, CBO estimates. The increase relative to last year was the result of changes in receipts from the following sources:

  • Individual income and payroll (social insurance) taxes together rose by $107 billion (or 4 percent).
    • Amounts withheld from workers’ paychecks rose by $78 billion (or 3 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 this entire fiscal year but for only seven and a half months of the same period last year.
    • Nonwithheld payments of income and payroll taxes rose by $10 billion (or 1 percent).
    • Income tax refunds were down by $23 billion (or 9 percent), further boosting net receipts.
    • Unemployment insurance receipts (one kind of payroll tax) declined by $4 billion (or 9 percent).
  • Corporate income taxes increased by $25 billion (or 12 percent). Those receipts reflect activity in both 2018 and 2019.
 
 
It is clear that Trump's tax cuts, in conjunction with regulatory decreases, have yielded much greater economic growth than expected, which yielded higher revenue than the CBO and others projected.
 
This also happened with President George W. Bush's limited, and President Ronald Reagan's across-the-board, tax cuts.
 
It is especially impressive that the U.S economy is doing so much better than Europe's, and it is precisely because Trump's policies are so much better than policies that advocate for bigger government.
 
The deficit is up because both parties spend too much, not because corporations and individuals are taxed too little. Higher revenues can never cause an increase in a deficit. The only thing that can cause the deficit to rise is the government's insatiable appetite.
 
Isn't it the responsibility of journalists to tell the truth to the public instead of using projections or talking points in an effort to push an agenda to elect one party and destroy the other party?
 
Maybe someday the media will also report factual climate history instead of using manipulated computerized projections to push an agenda. I doubt it, because facts haven't mattered to the press for a long time.