Another set of DEMOCRAT lies debunked
MEGA OLD-RICH WHITE PEOPLE CAUGHT LYING
DEMOCRATS scoffed at Republicans who said the Trump tax cuts would pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.
- 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.
But wait a minute. According to
DEMOCRATS, the tax cuts were supposed to blow a massive hole in the deficit. Nattering Nancy Pelosi promised that "this thing will explode the deficit." She also said that "after the Republicans' tax plan blows a multi-trillion-dollar hole in the deficit, they will sharpen their knives for Social Security, Medicare, Medicaid, and vital job-creating investments for middle class families." Even now, multimillionaire Pelosi is sticking to her guns. She called it "the deficit-exploding GOP tax scam for the rich."
Shutdown Schumer's response to that? "It's just made-up, fake math to hide another deficit-busting tax cut to benefit the wealthiest Republicans."
DEMOCRAT lies about tax cuts continue to fall. They called the tax cuts a giveaway to the rich. But the rich will end up paying a bigger share of income taxes.
They said workers wouldn't benefit, but millions got bonuses, raises, and improved benefits because of the corporate tax cuts. Real median household income is now at all-time highs.
DEMOCRATS also said that tax cuts would do nothing about the $2.9 trillion in profits that corporations had parked overseas. Corporations are bringing hundreds of billions of dollars in profits back as a direct result of changes in the corporate tax laws
https://www.investors.com/politics/editorials/income-tax-revenues-trump-tax-cuts-economic-growth/