Quote:
Originally Posted by OneHungLo
And what constitutes a good economy in your eyes????? Employment? Inflation? Interest rates? Good RE prices? GDP? Where is the problem?
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FY 2020 - $3.64 trillion, budgeted.
FY 2019 - $3.44 trillion, estimated.
FY 2018 - $3.33 trillion.
FY 2017 - $3.32 trillion.
^^Tax rev is going up.
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That's not reality. The taxes are not keeping up with inflation. Meaning we are actually collecting less tax revenue.
Federal revenues rose slightly in the 2018 fiscal year. But that doesn't mean the $1.5 trillion tax cut is bringing in more revenue than it's losing. The Treasury Department released figures on Monday showing the federal budget deficit widened by 17 percent in the 2018 fiscal year, to $779 billion.
The deficit grew by 17% in 2018 while increased tax income went up by 1.8%
Meanwhile in 2018 inflation was 1.9%
Do you start to understand now?