As usual, you right wingers only echo the lies told to you by the trash press..

facts...

https://www.taxpolicycenter.org/taxvox/did-tax-cuts-and-jobs-act-pay-itself-2018

Did the Tax Cuts and Jobs Act Pay for Itself in 2018?


Were you surprised that the 2017 tax overhaul, commonly referred as the Tax Cuts and Jobs Act (TCJA), did not increase revenues in 2018? Probably not, but several prominent conservatives, including Republicans in the House and Senate, former Reagan economist Art Laffer, and members of the Trump Administration, would be disappointed if they looked at the data. They have repeatedly claimed that TCJA either increased revenues or will pay for itself.

In principle, a tax cut could “pay for itself” if it spurred substantial economic growth. Revenues would rise from the combination of higher wages and hours worked, greater investment returns, and larger corporate profits. Under this scenario, that “dynamic” effect would more than offset the entire “static” revenue loss of the tax cut.

TCJA, however, is not that tax cut. While some TCJA supporters are touting that nominal revenues were higher in fiscal year (FY) 2018 than in FY2017, that comparison does not address the question of TCJA’s effects. Nominal revenues rise because of inflation and economic growth. Adjusted for inflation, total revenues fell from FY2017 to FY2018 (Figure 1). Adjusted for the size of the economy, they fell even more.

The most appropriate test of the revenue impact of TCJA is to compare (a) actual revenues in FY2018 with (b) predicted revenues in FY2018 assuming Congress had not passed the legislation. In fact, the actual amount of revenue collected in FY2018 was significantly lower than the Congressional Budget Office (CBO)’s projection of FY2018 revenue from January 2017—before the tax cuts were signed. The shortfall is $275 billion, or 7.6 percent of revenues that were expected before the tax cuts took place. Given that the economy grew, unless one can find some other change that caused a large revenue loss, the data imply that TCJA reduced revenues (Figure 1) – substantially.