Feds Collect Record Taxes in October; Still Run $100B Deficit

[Peter1469]

Feds Collect Record Taxes in October; Still Run $100B Deficit (https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-october-still-run-100b-deficit)

Income and corporate taxes were the highest collected- despite the tax cuts. How is this possible?

We still had a deficit- it is the spending stupid.


The federal government collected record total tax revenues of $252,692,000,000 in October, the first month of fiscal 2019, according to the Monthly Treasury Statement released Tuesday (https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm).

Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000.


This October’s record $252,692,000,000 in total tax collections was $11,414,590,000 more than the $241,277,410,000 (in constant October 2018 dollars) that the federal government collected in October 2017, which was the previous record for federal tax collections in October.

Although the total federal taxes collected this October set a record, the individual income taxes that the federal government collected in October did not set a record. This October, the Treasury collected $128,866,000,000 in individual income taxes. In October 2017, the Treasury collected $131,056,520,000 (in constant October 2018 dollars).


Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000 (in constant October 2018 dollars).

[donttread]

Feds Collect Record Taxes in October; Still Run $100B Deficit (https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-october-still-run-100b-deficit)

Income and corporate taxes were the highest collected- despite the tax cuts. How is this possible?

We still had a deficit- it is the spending stupid.

I don't even think they try or even give lip service to a balanced budget anymore. If revenue = x then spending will equal x + a shitload.

[Peter1469]

I don't even think they try or even give lip service to a balanced budget anymore. If revenue = x then spending will equal x + a shitload.

Exactly. What the OP proves, is that you can cut taxes and raise revenue (via economic growth). And what you said- Congress will always spend considerably more than they collect in tax revenue. Unless we stop them.

[countryboy]

Exactly. What the OP proves, is that you can cut taxes and raise revenue (via economic growth). And what you said- Congress will always spend considerably more than they collect in tax revenue. Unless we stop them.

How do we stop them?

After the Kavanaugh shenanigans, and the move toward even more radical leftism by Democrat Party members, the fact that there wasn't a red wave for the midterms, sort of demonstrates to me, that the republic is lost. Our troubles will never be stopped at the ballot box. We have passed the point of no return.

[Tahuyaman]

Feds Collect Record Taxes in October; Still Run $100B Deficit (https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-october-still-run-100b-deficit)

Income and corporate taxes were the highest collected- despite the tax cuts. How is this possible?

We still had a deficit- it is the spending stupid.

Everyone who has the ability to recognize facts, knows that tax rate cuts leads to more economic activity resulting in economic growth and revenue increases.

Increases in spending always outpaces increases in revenues. That is unsustainable.

[donttread]

How do we stop them?

After the Kavanaugh shenanigans, and the move toward even more radical leftism by Democrat Party members, the fact that there wasn't a red wave for the midterms, sort of demonstrates to me, that the republic is lost. Our troubles will never be stopped at the ballot box. We have passed the point of no return.


For example, I wonder what the whole Kavanaugh process cost? Red spends just as much. But have faith, someday the people will realize that the information they need to vote out the donkephant is at their finger tips

[MisterVeritis]

How do we stop them?

After the Kavanaugh shenanigans, and the move toward even more radical leftism by Democrat Party members, the fact that there wasn't a red wave for the midterms, sort of demonstrates to me, that the republic is lost. Our troubles will never be stopped at the ballot box. We have passed the point of no return.
There is only one way. We need a convention of the states to propose constitutional amendments. We call it under Article V of the Constitution. It bypasses the Federal government. It is our last chance. If we fail we have only slavery or revolution in our future.

[countryboy]

For example, I wonder what the whole Kavanaugh process cost? Red spends just as much. But have faith, someday the people will realize that the information they need to vote out the donkephant is at their finger tips

What, vote for liberal-tarians? I think not.

[countryboy]

There is only one way. We need a convention of the states to propose constitutional amendments. We call it under Article V of the Constitution. It bypasses the Federal government. It is our last chance. If we fail we have only slavery or revolution in our future.

Why are you responding to a closet white hater? Fuck off dipshit.

[donttread]

What, vote for liberal-tarians? I think not.

You want less federal spending that's what you's have to do , yes. But for those who have other wishes there are other choices. The real point is that the donkephant is non functional.

[Peter1469]

There is only one way. We need a convention of the states to propose constitutional amendments. We call it under Article V of the Constitution. It bypasses the Federal government. It is our last chance. If we fail we have only slavery or revolution in our future.
The liberals will destroy us if given a chance.

[donttread]

There is only one way. We need a convention of the states to propose constitutional amendments. We call it under Article V of the Constitution. It bypasses the Federal government. It is our last chance. If we fail we have only slavery or revolution in our future.


I know we've discussed this before but aren't you concerned that if we did that we would actually lose ground? Lose valuable pieces of the current Constitution? I think single amendments would be a better option, but neither is going to work anytime soon. Hell the people are afraid to vote "C" much less support a Constitutional Convention.

[Robo]

How do we stop them?

After the Kavanaugh shenanigans, and the move toward even more radical leftism by Democrat Party members, the fact that there wasn't a red wave for the midterms, sort of demonstrates to me, that the republic is lost. Our troubles will never be stopped at the ballot box. We have passed the point of no return.

I think they recognize that their spending and deficits will eventually result in a balanced non-budget, when the government goes into default. So they simply intend to play it out till that day comes and they're hoping their dead or retired to a mountain retreat off the grid someplace all self contained. Watch em and when they start building such for themselves, we'll know the end is near.

[Robo]

There is only one way. We need a convention of the states to propose constitutional amendments. We call it under Article V of the Constitution. It bypasses the Federal government. It is our last chance. If we fail we have only slavery or revolution in our future.

I advocated for that for awhile, then I realized even if such could be insisted on, how do we know who would control it and possibly repeal the Second Amendment or other parts of the Bill Of Rights? Careful what you wish for.

[Crepitus]

Feds Collect Record Taxes in October; Still Run $100B Deficit (https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-october-still-run-100b-deficit)

Income and corporate taxes were the highest collected- despite the tax cuts. How is this possible?

We still had a deficit- it is the spending stupid.

Tax receipts are not up for October, we are still eating away at the record high from April. The monthly take has been down every month since then.

[Common]

Tax receipts are not up for October, we are still eating away at the record high from April. The monthly take has been down every month since then.
You are just wrong again, tax receipts were up in October

[countryboy]

You want less federal spending that's what you's have to do , yes. But for those who have other wishes there are other choices. The real point is that the donkephant is non functional.

Oh really? How much federal spending did Ron Paul reduce during his very long tenure as a career politician? Give me a number. Was it more than zero? Yeah, those LIBERALtarians do a bang-up job

[Tahuyaman]

Tax receipts are not up for October, we are still eating away at the record high from April. The monthly take has been down every month since then.
Revenues are at a record high.

When will you get it through your thick head that we have a spending problem and not a revenue generating problem?

[Peter1469]

Oh really? How much federal spending did Ron Paul reduce during his very long tenure as a career politician? Give me a number. Was it more than zero? Yeah, those LIBERALtarians do a bang-up job

D and R voters are voting to destroy the economy and the USD.

[countryboy]

D and R voters are voting to destroy the economy and the USD.
Lol, I noticed you didn't answer the question. How much spending has been reduced by LIBERALtarians?

[Crepitus]

Revenues are at a record high.

When will you get it through your thick head that we have a spending problem and not a revenue generating problem?

Lol.

[MisterVeritis]

Lol.
Does your laugh hide your embarrassment? It does, doesn't it?

[Crepitus]

Does your laugh hide your embarrassment? It does, doesn't it?

No, it displays amusement.

Do.you really not know what a laugh is for?

What a sad life you must live.

[MisterVeritis]

Does your laugh hide your embarrassment? It does, doesn't it?

No, it displays amusement.
It should have. That makes it all the worse.

[Tahuyaman]

Does your laugh hide your embarrassment? It does, doesn't it?

What is so funny about stating an obvious truth?

Im guessing Crepitus thinks the best way to reduce debt is to increase spending and enact tax policies which cause an economy to shrink.

[Peter1469]

Lol, I noticed you didn't answer the question. How much spending has been reduced by LIBERALtarians?

They have not been in power.

[Captdon]

I advocated for that for awhile, then I realized even if such could be insisted on, how do we know who would control it and possibly repeal the Second Amendment or other parts of the Bill Of Rights? Careful what you wish for.


It takes 38 states to actually change the Constitution. Outside of term limits and possibly an age limit on judges I have serious doubts you could get 38 states to amend anything.

[Ethereal]

They have not been in power.
Ron Paul was one of the few genuine libertarians who managed to become a Congressman. He consistently voted against unbalanced budgets, tax increases, and spending increases. And he always voted in line with the original intent of the constitution. Yet Republicans rejected him in favor of Mitt Romney and John McCain, neither of whom were real conservatives.

[Tahuyaman]

Rand Paul did not win the Republican nomination because he had no coherent foreign policy other than non intervention.

[countryboy]

They have not been in power.

Then what is the point of supporting them?

[Tahuyaman]

Then what is the point of supporting them?
Because you want to get them in power in order to instilling some fiscal sanity into our budgeting process

[donttread]

Oh really? How much federal spending did Ron Paul reduce during his very long tenure as a career politician? Give me a number. Was it more than zero? Yeah, those LIBERALtarians do a bang-up job


Since he had no individual power to do that and had to represent his voters in the reality of the Washington cesspool there is no way to answer that correctly. Simply a big governemt type loaded question

[donttread]

Rand Paul did not win the Republican nomination because he had no coherent foreign policy other than non intervention.


Seems a hell of a lot better than the foreign policy we been using, unless you have Exxon or arms dealer stock that is.

[donttread]

Then what is the point of supporting them?



Integrity and trying to accomplish change that the donkephant clearly will never bring.

[countryboy]

Because you want to get them in power in order to instilling some fiscal sanity into our budgeting process
That's obviously never going to happen. There are reasons LIBERALtarians never get elected in any significant numbers. When you vote LIBERALtarian, you are essentially voting Democrat Party.

[countryboy]

Since he had no individual power to do that and had to represent his voters in the reality of the Washington cesspool there is no way to answer that correctly. Simply a big governemt type loaded question
Soooo, you're saying, vote LIBERALtarian to restore fiscal sanity, yet, in the same breath saying, once they get to Washington they will do nothing. Got it.

[countryboy]

Integrity and trying to accomplish change that the donkephant clearly will never bring.
Integrity is throwing your vote away to candidates that can never win, and actually help Democrats win? Um, ooooo-kay.

[donttread]

Soooo, you're saying, vote LIBERALtarian to restore fiscal sanity, yet, in the same breath saying, once they get to Washington they will do nothing. Got it.

One can't do much. Which is why his excellent voting record hasn't changed things. But 10 or 20 or 30 different story. How can a supposed con dislike a guy who's platform is essentially the Constitution?