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5 tweets,
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1. Feds Collect Record Individual Income Taxes in 2018
As I have mentioned repeatedly tax cuts increase govt revenue. That's why I support them. Tax cuts lead to more prosperity for all, not just the rich, and enable more social welfare if govt spends money wisely.
As I have mentioned repeatedly tax cuts increase govt revenue. That's why I support them. Tax cuts lead to more prosperity for all, not just the rich, and enable more social welfare if govt spends money wisely.
2. Of course, corporate tax collected was significantly down because of a historic drop in corporate tax rate to bring it in line with our competitors in the developed world. This drop is temporary though. Govt's own projections show over the next few years tax revenue will rise.
3. Watch for the media to falsely blame tax cuts for increasing federal deficits. They lie through their teeth. As I have explained previously in detail (see next tweet), and as CBO has itself stated, federal deficit is caused by run-away spending increases, not tax cuts.
4. See the enclosed thread for more detail on tax cuts and deficits.
The End.
The End.
There is no amount of money that can make up for the shortage in spending discipline.
