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Thread: CBO: Individual, corporate income tax revenue down

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by jonny5 View Post
    Not down enough, sadly. We need to cut income and corporate taxes more, and raise payroll taxes since we spend most of taxes on social spending. Plus payroll tax is more fair. I say we eliminate the income tax and corporate tax alltogether and go to one flat 20% payroll tax.
    You're right -- because the rich just don't have enough money. They need those stock buybacks more than those old folks need Medicare!
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by MTAtech View Post
    You're right -- because the rich just don't have enough money. They need those stock buybacks more than those old folks need Medicare!
    Wake me you make a serious point.

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by MTAtech View Post
    No, it is you who is lying. Corporations overwhelmingly bought back their own stock, not gave the money out in wage increases.
    So what? Increase in shareholder value is a problem for you, why? Your concern about what a corporation pays it taxes makes you a radical's dream supporter and affects you not at all. It does benefit shareholders many of which are seniors. Class envy on full display

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by jonny5 View Post
    Wake me you make a serious point.
    Why does what a rich person have and gets to keep of their own money bother you so much? I am far from rich but no rich person has ever prevented me from joining them or hurt me, my family in any way

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by MTAtech View Post
    No, it is you who is lying. Corporations overwhelmingly bought back their own stock, not gave the money out in wage increases.
    So tell me, is a stock price increase and increased value to shareholders relevant to you or do you simply want to continue promoting class warfare and total diversion from the results being generated? Senior Shareholders are getting a dividend increase which to me benefits them and the economy. How does that hurt you?

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by MTAtech View Post
    No, it is you who is lying. Corporations overwhelmingly bought back their own stock, not gave the money out in wage increases.
    Corporates buyback their own stock at the time. This would have happened with or without a tax reduction. When Corporations have more excess cash, the only thing you can do is buyback stock...

    This is especially true if you want to maintain your capital structure. You're bitching about a non-issue.
    Make America Grab The Vagina Again...

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by Greenbeard View Post
    CBO's latest Monthy Budget Review is out and the data for the first quarter of FY2019 are in.

    In the first quarter of FY2019, relative to the first quarter of FY2018 (i.e., the last quarter prior to passage and implementation of the tax cuts):



    Overall revenues are being propped up right now by tariff revenues and an ACA tax on health insurers.



    Meanwhile, in other news, nominal Medicare spending growth over that period was 1.7%. For context, if 10,000 Boomers are aging in daily, enrollment growth alone was likely 6-7%. That's pretty incredible.
    The purpose of fiscal stimulus is to increase deficits.
    Make America Grab The Vagina Again...

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by Conservative View Post
    Why does what a rich person have and gets to keep of their own money bother you so much? I am far from rich but no rich person has ever prevented me from joining them or hurt me, my family in any way
    I think you meant to reply to MTA

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by Hedgology View Post
    Corporates buyback their own stock at the time. This would have happened with or without a tax reduction. When Corporations have more excess cash, the only thing you can do is buyback stock...

    This is especially true if you want to maintain your capital structure. You're bitching about a non-issue.
    That not the only thing they CAN do. Or even that they do. They can pay dividends, expand, invest in assets that appreciate, etc.

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    Re: CBO: Individual, corporate income tax revenue down

    Quote Originally Posted by jonny5 View Post
    That not the only thing they CAN do. Or even that they do. They can pay dividends, expand, invest in assets that appreciate, etc.
    And that is exactly what many corporations did but the major question remains why is corporate tax revenue growth so important to you? I find it quite concerning how so many people always focus on tax revenue growth to the govt. but never about shifting things like social expenses back to the states and local governments. In 2018 states and local gov't set records in tax revenue collections, consumer spending set records as did charitable giving. Based upon 2018 results isn't it time to reduce the size of the federal gov't? Isn't it time to pass a budget like the one Trump proposed for 2019?

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