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October 8, 2019
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...(Read Full Post)