Tax Cuts $90 billion giveaway to Corporations

[_Kevin Graham]

Companies are paying less after the GOP tax cut, and it’s showing in the deficit

There were a lot of numbers in the budget report that the Treasury Department issued this week. Here are a few of them.

2018 budget deficit: $779 billion
The budget deficit compared to 2017: +$113 billion
Government revenue compared to 2017: +$14 billion
Government spending compared to 2017: +$127 billion

Politicians have long decried the rising federal debt, the total amount the U.S. owes and a number that grows after each year’s budget deficit. But few presidents have actually been able to bring the deficit to heel. President Bill Clinton is the only president since Calvin Coolidge to have a budget surplus over the course of his administration.

Early in his presidency, President Donald Trump promised to “swiftly” balance the budget. He also said the Republican tax cut plan, signed into law last December and estimated to cost $1.9 trillion over the next 10 years, would not increase the deficit.

Now, new numbers released this week show the tax cuts, combined with the required payouts for Social Security and Medicaid and increased spending on defense under Trump, are, in fact, increasing the deficit.

Which brings us to one more number that stuck out in the new report: $204.7 billion.

That’s how much corporations paid in taxes in fiscal year 2018. It’s striking because the figure is more than $90 billion less than the $297 billion corporations paid in taxes the previous fiscal year.

[_Some Schmo]

The GOP doesn't govern. All they do is politics. It's become clear to me that if you want the government to actually do their jobs, you have to hire Democrats. That's because you can't get a GOP pol to work to save your life. McConnell recently admitted as much. They wait for the Dems to do the job, then use it as something to whine about on the campaign trail.

damned takers, every one of them.

[_Brackite]

Around 82% of those tax cuts went to the top 1%. The National debt is now at 21.66 trillion dollars. Link
The National debt has increased by about 8.4% under Trump. And Trump inherited a good economy.

[_Kevin Graham]

GM is closing 7 factories and firing 14,000 American employees after getting $500 million from this tax cut.

[_subgenius]

damned takers, every one of them.

So, how about an honest assessment for how your life/livelihood has experienced a net "taken from" condition in the past 2 years? Did your living circumstances take a nose dive in the past 24 months due to all this "taking"?

a.k.a. put up or shut up...you choose.

[_Doctor CamNC4Me]

GM is closing 7 factories and firing 14,000 American employees after getting $500 million from this tax cut.

Idling, not closing.

- Doc

[_Kevin Graham]