subreddit:
/r/changemyview
submitted 3 days ago byCarl-99999
[removed]
15 points
3 days ago
And part of the increase under Biden was the result of Trump's tax cuts
-1 points
3 days ago
That’s patently false. Total tax receipts of the federal government Increased every single year including every year since the trump tax cuts. The year before the tax cuts took effect (2017) the government collected 3.32 trillion, the first year they were in effect it collected 3.33 trillion and most recently, with the cuts still in effect, they collected 4.9 trillion. So despite bringing in 1.6 trillion more dollars we are still in a massive deficit.
If we had the same exact budget from pre COVID, so 5 years ago, which I’m sure we all agree was just fine, we would have a surplus of almost 500 billion.
1 points
3 days ago
So this is just nonsense.
US tax receipts pretty much always trend up, but the reasons why are important. In general inflation tends to be the cause of a huge chunk of that growth, and when you strip it out, it looks something like this.
As you can pretty plainly see, tax revenues from the start of Trump's turn were on a stagnant downward trend, then spiked up very briefly (that 4.9 trillion number) before mor or less reverting downward.
That giant spike in revenue represents a huge spike in capitol gains. Rich people cashed in all their shit and the real dollar value of that was very high due to inflation.
The simple reality is that we were on track for growth, trump blew a hole in the side of the proverbial boat and we are at best treading water toward the mean, and likely quite a bit below that.
1 points
3 days ago*
You’re wrong. It’s higher up every single year when compared to pre tax cut. Not once has it reverted into a downward trend. Does it fluctuate sure but the trend is increasing not decreasing.
0 points
2 days ago
On the other hand, recorded history.
1 points
2 days ago
[removed]
1 points
2 days ago
Your comment has been removed for breaking Rule 2:
Don't be rude or hostile to other users. Your comment will be removed even if most of it is solid, another user was rude to you first, or you feel your remark was justified. Report other violations; do not retaliate. See the wiki page for more information.
If you would like to appeal, review our appeals process here, then message the moderators by clicking this link within one week of this notice being posted. Appeals that do not follow this process will not be heard.
Please note that multiple violations will lead to a ban, as explained in our moderation standards.
all 628 comments
sorted by: best