If What the Teamsters Prez Told Tucker Carlson Is True It's No Wonder...
Merry Christmas: A Special Bonus Gift of Christmas Funnies Just for You
Simply ‘Wonderful’: Classic Holiday Film Reminds Generations It’s Okay to Cry at Christmas
A Lump of Coal in Her Stocking! Crypto Influencer Gets BURIED for Not...
Political Pivot? Many Question ‘Young Turk’ Cenk Uygur’s Sudden Willingness to Talk with...
'The View' Panelist Says Problem for Dems Is That Gov't Won't Regulate Social...
Man Vs. History: Bear Grylls Gets DROPPED by Community Notes for Awful Take...
Scott Jennings: Dem Party Must Flush the Fringe and Embrace Common Sense to...
HO HO OH LOL-NO! Leftist Mocked for Whining About the Midwest DAD We...
Bah Humbug! Dems Put Fetterman On The Naughty List
NewsGuard Rates the Headlines Covering Woman Set on Fire by Illegal
CNBC: Biden Administration Withdraws Student Loan Forgiveness Plans
'Mary Was An Earthworm:' J.K. Rowling Absolutely Roasts India Willoughby's Take on Christi...
University Employee Who Told Trump Supporters to Kill Themselves Sent Packing
Sen. Kirsten Gillibrand Still Pushing to Publish the Equal Rights Amendment With 'One...

Sparky, tax revenue went UP: Brit Hume shuts down Democrats still crying over and blaming Trump tax cuts for the deficit

The day the Trump tax cuts were passed was the day Democrats started spinning the idea that not only did the cuts benefit the wealthy and corporations but that it was causing the deficit to go up.

Advertisement

Forget the cuts benefitted 80% of Americans and that our deficit issue is about spending not taxing … they had a narrative to push because God forbid the country see a tax cut as a good thing.

Especially Trump’s tax cut.

Brit Hume shared a receipt:

Brit could be onto something here.

From the Washington Examiner:

Federal tax revenues rose during the 2019 fiscal year as the economy grew, but spending increased by over $200 billion more, which is why the country ended up running a deficit approaching $1 trillion, according to Congressional Budget Office data released Thursday.

As debt has accumulated during President Trump’s first term, the focus has turned to tax cuts as the culprit. And while it’s simple math to point out that if the government was collecting more tax revenue than it is currently, the deficit would have been narrower, the truth is that revenues did go up modestly — but that revenue growth was just outpaced by an increase in federal spending.

Specifically, in the 2019 fiscal year, which ended Sept. 30, federal revenues increased by $133 billion (or 4%), but spending spiked by $339 billion (or 8%), driving up the deficit by $205 billion to $984 billion.

Advertisement

Spending spiked … color us not shocked.

BRB, dying.

Government living beyond its means.

When individuals live beyond their means they end up in with all sorts of problems …

It’s true.

It’s damn true.

 

Related:

This CAN’T be good! Economist who signed off on Warren’s ‘Medicare For All’ Plan suddenly NOT a fan and HOO-BOY

‘Under the radar’: @Techno_Fog sheds light on another stunt Deep State is trying to pull while YOU’RE distracted with Trump

He doth protest too much! Megyn Kelly calls whistleblower attorney Mark Zaid OUT for his anti-Trump tweets and he just can’t DEAL

Join the conversation as a VIP Member

Recommended

Trending on Twitchy Videos

Advertisement
Advertisement
Advertisement