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    It's not news to liberals; they've known better all along

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    sinister_midget
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    It's not news to liberals; they've known better all along

    Post  sinister_midget on Thu Jul 12, 2018 1:02 pm

    Bad news for Dems: Trump tax cuts have led to increased tax revenue

    Democrats developed a sudden new concern with the size of budget deficits – something that failed to trouble them as Barack Obama doubled the national debt in just eight years – when President Trump's tax cuts were first proposed.  Nancy Pelosi assured us, "[T]his thing will explode the deficit."

    And the Congressional Budget Office, sticking to obviously incorrect static model thinking – i.e., that people don't change their behavior when tax rates change – produced an estimate that the deficit would rise from $665 billion to $804 billion.

    Now, data are out showing that, just as the Laffer Curve predicts, a reduction in tax rates produced such an increase on economic activity that tax revenues increased.


    Investor's Business Daily writes:

    The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017.  That's a 9% jump, even though the lower income tax withholding schedules went into effect in February.

    The CBO says the gain "largely reflects increases in wages and salaries."

    For the fiscal year as a whole – which started last October – all federal revenues are up by $31 billion.  That's a 1.2% in increase over last year, the CBO says.

    The Treasury Department, which issues a separate monthly report, says it expects federal revenues will continue to exceed last year's for the rest of the 2018 fiscal year.

    The mainstream media are not going to point this out, but fortunately, President Trump is not in the least bit shy about pointing out his successes via Twitter and in public speeches.  He has a ripe target here, and he can quote Pelosi and the rest offering phony warnings, and make the point that their concerns about confirming Brett Kavanaugh are equally fatuous.

    Isn't it amazing how often good news for Americans is bad news for Dems?

    The only leftists surprised by this are the ones who know nothing about history and/or haven't been alive very long. The politicians who have been loudest against it knew the truth of this all along. JFK knew it. Reagan knew it. My gut tells me a lot of politicians knew it a long, long time before JFK. But the left has invested in lying to capture and keep power. They can get away with it by targeting people who have been publicly educated (including at college propaganda mills) and those they can convince they'll lose something if somebody actually does make the economy grow (not said in those terms, of course).

    The only bad news for liberal politicians is the younger people who were victims of their fraud are now seeing for themselves that they've been lied to.

    My son (19) has a friend he went to school with. The kid was hard core socialist. Even a few months ago he saw some of the things he believed turned out wrong. But he attributed that to a few of the "facts" he'd been given not being quite accurate. Last night my son told me this very same guy is now 180° from where he was even a few weeks ago. He has a better job than he used to have, and it's in retail. He's seen first hand how things are working better for him due to a better economy, tax breaks and other factors. He now says he used to believe in a hoax.

    I have a friend who I went to high school with. (Had might be a better way of putting it - I haven't seen him in about 6-7 years and probably never will again.) He's always been an unrepentant leftist. We had many discussions over the years about political things. Some of those have opened both of our eyes a little. But he never wavered from his solid Marxist viewpoint as an overarching philosophy. The last time I talked to him he wouldn't say outright that he'd made some changes. But he hinted a confession to me. He's been lazy for a long time. He had aspirations, followed them awhile, but never to completion. Last I saw him he'd been living off of SSI for a few years, so he was never going to bother working again. But he said to me at that time (paraphrasing) that he had to support people like Obama and Claire McCaskill because his subsistence depended on it. The nature of the entire discussion only left one conclusion: he saw what a mess the left had made of things, and he would support different people if he wasn't afraid that it would cause his situation to worsen. But he couldn't bring himself to say it that way. I'm hoping now his situation has improved and he sees how wrong that concern was.

    The DemocRATs have been losing support for awhile. Only now is it becoming news to the people who refused to acknowledge it. But election patterns since the day Obama was inaugurated don't lie. The party itself has only gone farther in the direction that caused that. I hope they never piece together why it happened.


    _________________
    The American Dream is to be Donald Trump.
    -- Barack Hussein Obama

      Current date/time is Fri Jul 20, 2018 2:49 pm