https://www.wsj.com/articles/tax-revenues-are-higher-1533941919



Looks like even Santara (not a lefty by any measure) was wrong about the laffer curve. The tax rates are lower than last year but the tax revenue raised by taxes is higher than last year even after adjustment for yearly growth.

Economy likely would have grown even if there were no tax cuts. Is that taken into account? The fact that revenue is higher than last year even with tax cuts is good news of course, but is there any modeling on whether revenue would be higher or lower without the tax cuts in this year?

Yep. "adjusted for yearly growth"

8% rise in revenue with a 4% growth rate should be straightforward math.



Yea, look at the 8 years prior.

Tax cuts didn't affect me. I've been paying twice as much on taxes per check to try to avoid a big tax bill at the end of the year again.

I need to get poor again or get rich. This middle class thing sucks.

They give you three year plans to pay tax bills that come every year.

Am I supposed to get a new three year billing plan every year?

Damn IRS. Basically payday lending.

This post was edited by Skinned on Oct 16 2018 11:48am

Precisely my thoughts. I would be interested to see that. The economy has been steadily improving for about 8 years now. I'd be curious to see tax revenue over time in relation to economic variables outside of just growth like unemployment and inflation. Once we control for those factors a little more, I'd like to see how lowering or raising taxes might have affected tax revenue.

Okay if that's the case you're just not having the appropriate amount of tax deducted from your paycheque and its an employer issue. Why is your employer remitting so little? Are you self employed and not making the correct amount of installments?

You should net zero basically each year before deductions and credits if your employer is deducting the correct amount of tax and you have no other income from other sources.

This post was edited by SBD on Oct 16 2018 12:05pm

There is no evidence to suggest that 2018 would be significantly different from any of the prior 5 years aside from the taxcuts.

This post was edited by EndlessSky on Oct 16 2018 12:06pm

and still not enough money to build a wall or make SS solvent.

i think the cuts caused an uptick in growth, which is good. but the tariffs are going to kill off that uptick at the same time. seems Trump is determined to undermine his own success economically, gambling that he'll be the potus who ushers in a new trade deal. funny that the guy who campaigned on how shitty nato is is trying to make his own nato. trade deals never stand the test of time, trump's trying to build a monument with his name on it that will be invariably torn down. when the next dem potus takes office or 30 years from now, who knows.

Now I'm taking 0 deductions.

We didn't have this problem before we started making over six figures.

They are taking their pound of Flesh LOL.

This post was edited by Skinned on Oct 16 2018 12:24pm

The article controlled for growth, but what about unemployment? Unemployment has been steadily decreasing for years. More people employed, more tax revenue. Not denying that tax cuts could have played a role in all of this, but I'd like to see more economic variables controlled for than just growth.