permafrost wrote:
don`t be confused by the April report. that month is inflated because of corps taking advantage on one time only tax gifts.. so they paid now (April) rather then later..
You will have a life time, and so will all your descendants to pay for the gift to the rich and himself..
https://www.wsj.com/articles/u-s-budget-deficit-narrowed-to-74-86-billion-in-june-1531418402
By Ben Leubsdorf and Richard Rubin
Updated July 12, 2018 4:27 p.m. ET
WASHINGTON—Corporations taking advantage of new, lower tax rates reduced their payments to the federal government last month.
The Treasury Department on Thursday said government receipts fell 7% in June compared with the same month a year earlier, including a 33% drop in gross corporate taxes. Individual withheld and payroll taxes were down 5% from June 2017, while non-withheld individual taxes rose by 7%.
Even though revenues fell, the budget deficit narrowed to $74.86 billion in June, compared with $90.23 billion in June 2017, due to a 9% drop in government outlays. The spending decline largely reflected some accounting shifts and not actual spending changes. For instance, the Education Department revised estimates for the net costs of past loans and loan guarantees, according to a Congressional Budget Office analysis.
More broadly, the federal deficit is swelling as government spending outpaces revenues. The budget gap totaled $607.1 billion in the first nine months of the 2018 fiscal year, 16% larger than the same point a year earlier. So far in the current fiscal year, which will end Sept. 30, total spending rose 4% compared with the same period a year earlier and total revenues rose 1%.
Many individuals and corporations both had estimated-tax payments due in June, making the month an important indicator of the revenue effects of the new tax law. The legislation, which reduced individual and corporate tax rates, was enacted in December and mostly took effect Jan. 1.
Corporations, which received a tax rate cut to 21% from 35%, captured many of the benefits quickly.
“One thing that’s pretty clear is 35 to 21,” said Gordon Gray, director of fiscal policy at the conservative-leaning American Action Forum. “And that’s going to be the big lever in corporate tax payments, so we’re seeing those come down.”
don`t be confused by the April report. that month ... (
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You people are so desperate trying to deny reality.
You tried giving Obama credit for the economic boom. Since that failed plan B is to deny the existence of the economic boom.
It's funny that the same people that were crying about the tarrifs charged on foreign made goods was being passed on to the American consumer pretend to be stupid enough to think that the corprate taxes on American made goods is not.
The longer you pretend that Trump is not making things better, the dumber you look.