The BUDGET and economy are winning. Tax cut paying for itself.

Economic growth due to the Trump tax cut have virtually "paid for" the estimated 10 year "cost" in just over ONE YEAR!

Yes, you read that right.............TRUMP'S TAX CUT HAS ALREADY ALMOST PAID FOR THE ESTIMATED 10 YEAR "COST".


The CBO has issued two budget and economic reports after President Trump took office in January 2017. In CBO’s June 2017 “Updated to the Budget and Economic Outlook”, page 19 reports that ten-year revenue estimates rose by $195 billion for “economic reasons”. Then in CBO’s April 2018 “Budget and Economic Outlook”, page 94 reports that ten-year revenue estimates rose by $1,088 billion for “economic reasons”. This is the largest jump in revenues for economic reasons ever reported by CBO, and results from, in CBO’s words, their “current projections suggest[ing] a stronger economic outlook than those that the agency published in June 2017”.

How do these revenue gains compare to the tax cut? The JCT’s “ESTIMATED BUDGET EFFECTS OF THE CONFERENCE AGREEMENT FOR H.R. 2” reported on page 8 their estimate of the tax cut’s ten-year cost at $1.456 trillion. Thus “better nominal GDP” has generated “higher revenues” of $1,283 billion or 88% of the tax cuts net cost of $1,456 billion or “virtually” all.

Even if the 2017 adjustment is ignored, it is remarkable that CBO is projecting in a single economic adjustment just four months after the tax cut was enacted that higher growth will add a record-breaking $1,088 billion in revenues or 74.7% of the tax cut’s net cost. But when compared to recent revenue losses from slow growth, this turnaround is nothing short of astounding.

https://www.realclearpolitics.com/a...he_budget_and_economy_are_winning_137723.html

 

:crickets: from the lib members here who have been claiming the tax cuts are exploding the deficit.

 

Another win for Trump!

 

He was correct in saying the tax cut would pay for itself.

 

Lol:

Whatever voodoo economics makes Republicans think they have made themselves rich(er) with Trump's "Magic Money", can we now assume that we do not need to be immediately cutting the working class's Social Security, children's health care, Medicare, education and other help for the poor and middle class?

Yeah! We can hardly await the way upward revised budget next month!

 

Maga is made in such ways.

Imagine how much better things will be after 6 more years of Trump.

 

Yes...the President will be holding off on executing children, the elderly and disabled at this time.

Do you even realize HOW SILLY YOUR POST IS? "lol".

 

Another win for all of us..

 

Well, they are
What's the point on debating a right wing conservative publication being the ONLY publication making this claim.

 

It has links to the CBO numbers.

Run along kid, ya got nuthin'

 

To prove us wrong?

Go ahead, we are waiting.

Left wing publications aren't going to print the truth because they are the enemy of the people.

They only publish negative things.

 

What planet are you right wing loonies living on???The IRS just warned tax payers that many of them have had unjustly higher take home pay checks because employers were going by faulty data from the administration.THEY WILL OWE WHEN THEY FILE THEIR 2018 Taxes.

 

It's the LEFT's DARLINGS, the CBO, "making these claims"....not REALCLEARPOLITICS...

Wow, they are really SCRAMBLING to try to deny/deflect/downplay this, the COMPLETE REFUTATION Of one of their MAIN "Bad Economy" Soros-site talking points.

The poor editors of Daily Floss, Media Blathers, Democrat Heads in the Sand, Huffblows, Salon.Lie , etc., are running out of manufactured BULLSHIT talking points and buzzwords/phrases....

 

Link...let's see PRECISELY what they said....from NON-POLITICAL SOURCE....apparently the left's DARLINGS at the CBO didn't get the memo...

 

Well then, tax revenues should be even higher than what is in the OP.

Thanks for pointing that out. Trump's tax cut continues to increase revenues.

Nice job, President Trump.

 

WRONG TAX REVENUES are running far behind where MyNEWCHIN and Dirty Donald projected they are even lower than 2017 was.

 

I notice you provide no links.....

Tax cuts have more than paid for themselves.............almost paid for a full 10 years already.

 

It looks like Larry Kudlow made a similar argument, Politifact found it false.

https://www.politifact.com/truth-o-...nomic-chief-kudlow-wrongly-says-cbo-agrees-t/

from article -

"I am quite familiar with the CBO analysis and have no clue what Larry Kudlow is talking about," said Alan Auerbach, an economist at the University of California Berkeley and a member of CBO's board of economic advisers. "

In what way, if any, is Auerbach wrong?

 

As nice as tax cuts are, spending needs to be drastically reduced as well.

 

What I have is the fact that no one else is touting what you think is great news. With elections coming up you would think this would be a great item to run on.
Talk about crickets.

 

Nobody said the Nazi party were slaughtering the Jews either.

I guess they were wrong.

 

The deregulation and tax cuts are a start, but it's not enough. I notice that it's mostly just Trump supporters cheering about this, so perhaps there's some value to the opinion that more can be done.

 

Well, that has nothing to do with anything and a really lame attempt at deflecting.

 

Well, if those tax cuts pay for themselves, why not have another one. Maybe the increased revenue from that next tax cut would pay down the public debt. LOL.

In any case, maybe you should go over to the "why is free stuff not valued" thread. There, you could elaborate on how conservatives think that they can get something for nothing, i.e. tax cuts without anybody having to pay for them.

 

Just look at the National Debt Clock Real Time available 24 hours a day online, and up to date.,,,,