I don't think anyone said they were ONLY for the rich. The only thing that was said that vast majority of the benefit goes to the rich. You were given some cuts too for sure, to keep you voting right... but the main benefit of course goes to families like Trumps. They will get a windfall you can only dream of... See how it works out nicely - you are fooled and they get most of the benefit.
And the kicker will come later - when all the accrued debt from the resulting deficits has to be repaid. Wonder who will have to pay that? Trumpists or the middle class?
Well, I just completed my taxes for the 2018 tax year.
My income was pretty much the same year to year- only about a 2% increase year over year. Poor me!
My Federal Taxes owed reduced by 22%. Refund was down a bit. Taxes withheld for the year were down about 17%. I got a little more in every paycheck and still got a refund of about the same size: down 5% year over year.
Thank you, President Trump!
I've read posts from many of the Never Trumpers here that the tax cuts were only for "The Rich". I'm am decidedly NOT in that group of folks and yet I got a 22% cut in taxes.
As we all do our taxes here, how about we all post our personal experiences and outcomes?
Might be interesting to review the real world facts as opposed to the partisan hackery that has dominated the conversation through the year after the Trump Tax Cut was signed into law.
Estimates of Federal Tax income are that it will increase by 192 billion this year over last. The increase last year was 129 Billion and the year before that was 164 Billion.
The 192 Billion increase is the biggest one since the jump logged in 2009 based on the 2008 economy. In 2011, Federal Tax Revenue actually dropped.
I paid less and the Feds get more. Sounds pretty good! More work of the guy with the magic wand.
https://www.taxpolicycenter.org/statistics/federal-receipt-and-outlay-summary
Let me know when the so called Trump debt gets to the 9.3 trillion that Obama generated? As usual this is all about revenue going to the federal bureaucrats and not remaining in the pockets of the people who earned it in the first place for you. The radical left loves people like you
Obama's policies added about $2.2 trillion dollars to our national debt during his time in office.
Obama added $2.7 trillion dollars to our national debt from 2013-2022 by extending 82% of the Bush tax cuts.
Budget Deal Makes Permanent 82 Percent of President Bush
And Obama added $831 billion dollars to our national debt with his 2009 stimulus.
https://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009
The other $7 trillion dollars added to our debt during Obama's time in office was caused by the Bush administrations Iraq/Afghanistan wars, GW Bush's tax cuts that took place when Obama first entered office, increased spending by GW Bush (Bush increased spending by 48.6%), and federal subsidies started by GW Bush, ex.ex.
Economic Downturn and Legacy of Bush Policies Continue to Drive Large Deficits | Center on Budget and Policy Priorities
Report: Wars in Iraq and Afghanistan cost almost $5 trillion so far
https://www.mercatus.org/publication/spending-under-president-george-w-bush
Do Crony Handouts Have a Stranglehold on the GOP?
Again YOU want to start Obama's debt total on the day he took officeOMG, how in the hell are so many people so indoctrinated into believing what the left tells them and ignoring the official data. You couldn't be more wrong. Treasury.org will give you the debt for Obama and it was 9.3 TRILLION dollars. All this work you did posting articles none of which are in context and not posting official treasury data.
This thread isn't about Obama although you want to make it about Obama by propping up his Administration and posting partisan article that have no resemblance to civics. Tax cuts aren't an expense thus don't have to be paid for. People keeping more of what they earn obviously is a problem for indoctrinated liberals who need the massive central govt. in violation of the Constitution
Trump's tax cuts went to ALL Americans who pay Federal Income Taxes so apparently you aren't one of those and are in the approximate 50% who don't pay FIT. How do you give a tax cut to someone who doesn't pay FIT?
Looks like another newbie here and someone out of touch with reality
OMG, how in the hell are so many people so indoctrinated into believing what the left tells them and ignoring the official data.
You couldn't be more wrong. Treasury.org will give you the debt for Obama and it was 9.3 TRILLION dollars. All this work you did posting articles none of which are in context and not posting official treasury data.
Obama's policies added about $2.2 trillion dollars to our national debt during his time in office.
Obama added $2.7 trillion dollars to our national debt from 2013-2022 by extending 82% of the Bush tax cuts.
Budget Deal Makes Permanent 82 Percent of President Bush
And Obama added $831 billion dollars to our national debt with his 2009 stimulus.
https://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009
The other $7 trillion dollars added to our debt during Obama's time in office was caused by the Bush administrations Iraq/Afghanistan wars, GW Bush's tax cuts that took place when Obama first entered office, increased spending by GW Bush (Bush increased spending by 48.6%), and federal subsidies started by GW Bush, ex.ex.
Economic Downturn and Legacy of Bush Policies Continue to Drive Large Deficits | Center on Budget and Policy Priorities
Report: Wars in Iraq and Afghanistan cost almost $5 trillion so far
https://www.mercatus.org/publication/spending-under-president-george-w-bush
Do Crony Handouts Have a Stranglehold on the GOP?
chad;1069631653]Donald Trump became president on January-20-2017, and
on that day the national debt was $19.9 trillion dollars.
And on January-20-2018 the national debt was $20.4 trillion dollars.
What policies did Donald Trump enact in his first year in office to raise our national debt by $500 billion dollars?
Answer: None. During Trumps first year in office Obama's budget was in place, and Trump did not have the time/ability to add money to the debt. Trump inherited the national debt growth that happened during his first year in office (and Obama inherited national debt growth in a similar way.)
What policies did Obama enact to cause our national debt to rise by $9.3 trillion dollars?
Obama added $2.7 trillion dollars to our national debt from 2013-2022 by extending 82% of the Bush tax cuts. And from 2013-2017 Obama added about $1.9 trillion to our debt by extending the Bush tax cuts.
And Obama added $831 billion dollars to our national debt with his 2009 stimulus.
What other policies did Obama enact to add the remaining $7.1 trillion dollars to our national debt?
Interesting how you and the rest of the left want to divert from the Trump results to defend the Obama failures.
You are the one who is diverting.
You said "the debt for Obama was 9.3 TRILLION dollars."
Then I asked you, "what policies did Obama enact to cause our national debt to rise by $9.3 trillion dollars?"
But since you are unable to answer the above question you are diverting and changing the subject.
What policies did Obama enact to cause our national debt to rise by $9.3 trillion dollars?
Debt service and entitlement spending constituted most of the deficits for 2018 and interest rate hikes are to blame for the debt service
Policies that didn't increase employment thus new taxpayers and policies that didn't promote economic growth and activity which cost other line item revenues
Already answered, poor economic growth policies, poor stimulus program, economic malaise, debt when Obama took office 10.6 trillion and when he left 19.9 trillion, looks like 9.3 trillion to me and anyone with any math skills.
Well, I just completed my taxes for the 2018 tax year.
My income was pretty much the same year to year- only about a 2% increase year over year. Poor me!
My Federal Taxes owed reduced by 22%. Refund was down a bit. Taxes withheld for the year were down about 17%. I got a little more in every paycheck and still got a refund of about the same size: down 5% year over year.
Thank you, President Trump!
I've read posts from many of the Never Trumpers here that the tax cuts were only for "The Rich". I'm am decidedly NOT in that group of folks and yet I got a 22% cut in taxes.
As we all do our taxes here, how about we all post our personal experiences and outcomes?
Might be interesting to review the real world facts as opposed to the partisan hackery that has dominated the conversation through the year after the Trump Tax Cut was signed into law.
Estimates of Federal Tax income are that it will increase by 192 billion this year over last. The increase last year was 129 Billion and the year before that was 164 Billion.
The 192 Billion increase is the biggest one since the jump logged in 2009 based on the 2008 economy. In 2011, Federal Tax Revenue actually dropped.
I paid less and the Feds get more. Sounds pretty good! More work of the guy with the magic wand.
https://www.taxpolicycenter.org/statistics/federal-receipt-and-outlay-summary
chad;1069631911]Over 75% of the deficits for 2018 were caused by the Iraq/Afghanistan wars and the Bush tax cuts.
Please list the above Obama policies, and I will add those policies to the list bellow.
The entire Obama administration policies were anti growth and the results are what we got. You want the policies, you need to look no further to the fact that the stimulus was a failure, employment went from 142 down to 138 by the end of 2009 and then 139 million in 2010 so those were lost taxpayers. Jobs that were created were part time jobs for economic reasons meaning paying part time taxes collected vs. full time taxes collected
Like it or not those are the Obama results, 10.6 trillion to 19.9 trillion, lack of leadership, lack of positive pro growth economic policies, expansion of EPA rules and regulations, ACA taxes on businesses, want me to go on
You listed the following three sources to show how Obama added $9.3 trillion to our debt, but none of your sources mention deficits or debt.
https://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy
https://www.investors.com/politics/editorials/economic-boom-trump-obama/
https://www.forbes.com/sites/jimpow...-anti-economic-growth-president/#16f1835a48a3
Your above sources talk about Trump growing the economy, raising wages, and raising GDP. And you would argue those events will raise tax revenues and lower our deficits and debt.
But tax revenues have fallen by 0.4% since Trump became president.
https://www.bloomberg.com/opinion/articles/2018-09-14/tax-cuts-are-costing-the-u-s-treasury-money
What policies did Obama enact to raise our national debt by $9.3 trillion dollars?
I suggest you learn how to do research before posting the left wing bull**** as it will help regain the credibility you are losing by posting leftwing crap. Treasury.org will provide you the data and NO revenue isn't down because of the tax cuts, revenue is UP!!
Some how he has it in his head that the incoming President takes over the Budget and debt on the day he takes office and he doesn't they Take over the Budget and debt on Oct first of the year he takes office.You are the one who is diverting.
You said "the debt for Obama was 9.3 TRILLION dollars."
Then I asked you, "what policies did Obama enact to cause our national debt to rise by $9.3 trillion dollars?"
But since you are unable to answer the above question you are diverting and changing the subject.
What policies did Obama enact to cause our national debt to rise by $9.3 trillion dollars?
According to the National Review, "The Trump tax cuts are estimated to have reduced federal revenues by roughly $230 billion already, and by $2.3 trillion over ten years."
https://www.nationalreview.com/2018...growing-big-spending-fiscal-irresponsibility/
I don't think anyone said they were ONLY for the rich. The only thing that was said that vast majority of the benefit goes to the rich. You were given some cuts too for sure, to keep you voting right... but the main benefit of course goes to families like Trumps. .
This may shock you, but I'm sure that Microsoft corporation pays more taxes than you do.
Then you better call Treasury and tell them their numbers are wrong? Is it normal for some outside agency to tell your bank what your bank statement looks like? Why would Treasury lie with their data? By the way this was a July 25 article
Through the third qtr 2018 Federal tax revenue was projected to be at 3755.2 annual or down 32 billion dollars from 2017 and that is without the record fourth qtr numbers including the job growth
BEA.gov
I think you're referring to the Debt Bush generated as the deficits in Obama's first term were generated by the wars in Iraq and Afganistan, the Bush Tax cuts, and the recession itself. All of which began under Bush and ended under Obama. Once Obama fixed all of Bush's messes he reduced the deficit each of the last four years of his Presidency.Let me know when the so-called Trump debt gets to the 9.3 trillion that Obama generated?
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