Huge deficit for the US due to incorrect tax receipts estimates

[NatalieK]

Seems Trump´s first years in office are going to come with a big shortfall because of mistakes in projecting military healthcare & a shortfall in tax collections.

With a huge amount of nearly $250million than first estimated!

U.S. deficits to jump $248 billion over next two years due to tax shortfall | Reuters

Maybe he´ll have to put the wall on hold

[crockett]

It's because Republicans are dumb and they keep pushing the failed logic of less taxes equals more taxes.

It's never once worked and they know it and don't care. Republican lawmakers won't be the ones getting fucked so they don't care.

Dumb trailer park republicans will keep losing their jobs and be paid less and less but they will just blame Hillary.

[baddog]

Like $250 million means shit in an economy that deals with trillions. Garry, this isn't the UK.

and they are estimates. Do you know what that means?

[Barry-xlovecam]

U.S. deficits to jump $248 billion over next two years due to tax shortfall

That is amost 1/4 TRILLION

[directfiesta]

Like $250 million means shit in an economy that deals with trillions. Garry, this isn't the UK.

and they are estimates. Do you know what that means?

OP made a mistake, that if you read the title of the link, you would have seen BILLIONS ....

Can't you read ?

[directfiesta]

Like $250 million means shit in an economy that deals with trillions. Garry, this isn't the UK.

and they are estimates. Do you know what that means?

you could either replace Devos at education or whoever is at finance . You are surely qualified ....

[Paul Markham]

Obama fucked up.

[BaldBastard]

It's ok! Trumps going to lower Taxes that will fix it.

[Paul Markham]

That will make him richer and his elite friends.

If however he does what he promised and brings jobs back to the US. It will be a good thing. Americans will have more money to buy American made goods. This will mean more taxes paid in the US by American Companies.

The taxes still won't cover the costs of running a modern country that has a huge armed forces.

[pimpmaster9000]

That will make him richer and his elite friends.

If however he does what he promised and brings jobs back to the US. It will be a good thing. Americans will have more money to buy American made goods. This will mean more taxes paid in the US by American Companies.

The taxes still won't cover the costs of running a modern country that has a huge armed forces.

the teachings of Paul:

1) westerners will have more money but goods will somehow get cheaper
2) exports wont suffer because western goods will somehow get cheaper
3) people will somehow stop buying cheap china shit
4) westerners can cherry pick consequences, they will eat fat but only boobs will grow

[OldJeff]

Hey Geniuses We are operating under Obama's last budget Paul is right, Obama fucked up this one. So now they can blame republicans.

Left, Right, Left, Right, stay in step, keep flipping the coin between equal levels of incompetence

[NatalieK]

OP made a mistake, that if you read the title of the link, you would have seen BILLIONS ....

Can't you read ?

thank you directfiesta for noticing & correcting my mistake when writing, and yes, it´s a lot of money, i´d read billions, not sure why I wrote millions.

appreciating your post!

[Paul Markham]

Hey Geniuses We are operating under Obama's last budget Paul is right, Obama fucked up this one. So now they can blame republicans.

Left, Right, Left, Right, stay in step, keep flipping the coin between equal levels of incompetence

Thank you for pointing out the obvious. Why was Trump blamed for Aboma's cock up?

[NatalieK]

Thank you for pointing out the obvious. Why was Trump blamed for Aboma's cock up?

no, it´s with Trumps spending plans...

In a mid-year update to Congress, Mulvaney, director of the Office of Management and Budget, revised the estimates supplied in late May when the Trump administration submitted its first spending plan.

Since then, Mulvaney said, the deficit projected for the current fiscal year has increased by $99 billion, or 16.4 percent, to $702 billion. For 2018, the deficit will be $149 billion more than first expected, increasing by 33 percent to $589 billion.

[Paul Markham]

no, it´s with Trumps spending plans...

The US has to start getting its house into order (along with many other countries) if the future isn't our children living in poverty.

It has to raise taxes by 18%, or cut spending by 18% to keep the debt from rising.

18% cut in spending will be a catastrophe and cause huge problems along the lines of the UK, Italy, Greece, etc.

Cutting taxes is insane, it has no effect on how much a country produces. The days when it did were back in the 60/70s. Because most of what people bought was built in the US. Today what you buy apart from food, shelter and some fuel comes from outside the US.

Migration also has a negative effect on taxes. You bring in people to keep wages down, you get less tax. Plus you put someone on welfare. Double Whammy. We see that in the EU.

The big winners are the 1%, they have cut their out goings and raised profits. The people have to pay the debts.

[12clicks]

It's because Republicans are dumb and they keep pushing the failed logic of less taxes equals more taxes.

It's never once worked and they know it and don't care. Republican lawmakers won't be the ones getting fucked so they don't care.

Dumb trailer park republicans will keep losing their jobs and be paid less and less but they will just blame Hillary.

here amongst the intelligent, we know that lower tax rates has resulted in more revenue each time it was tried. Why does the bottom continually trot out this lie? Your fellow bottom doesn't need a reason to be envious of your betters and the intelligent won't believe it because they know better.

[directfiesta]

here amongst the intelligent, we know that lower tax rates has resulted in more revenue each time it was tried. Why does the bottom continually trot out this lie? Your fellow bottom doesn't need a reason to be envious of your betters and the intelligent won't believe it because they know better.

very convincing, mainly your backup data and link ....

[BaldBastard]

Its been looked at here in Australia a few times and the modelling always comes out the same.. NO

Would the benefits of lower company tax trickle down to you?

The gorilla on the floor here is many big employing companies are foreign owned, lower taxes just means more profit to parent company.

Lowering your wages to peanuts and removing regulations wont increase your sales to China America, they have as much cheap and contaminated shit as they can handle now. Produce quality and natural products and the Chinese can't get enough of them. that's how other countries are doing it anyways.

Rolling back farming and water regulations in the USA is the big scary! One mishap and you can kiss your China agricultural trade byebyes

[Barry-xlovecam]

Taxing profit or wages is bad -- very regressive.

Exempt food, rents and property purchases, medicine, books and education tuition. Make a VAT on everything else to replace all income tax.
20% maybe.

Make a financial transfer tax on all equity and debenture transactions.
Make a real estate sales tax (federal)
Make a capital escape tax on all capital transfered out of the country.
This rate could be 2% or less.

Let the remittance rate be 98% with the collecting sources being compensated with the remaining 2%.

Put most of the tax accountants and attorneys out of business -- they are just major drags on the economy.

No more personal or corporate income tax. Repeal the 16 Amendment -- enact a new constitutional amendment enabling this tax schema --done.

This will most likely never happen ...

[Paul Markham]

here amongst the intelligent, we know that lower tax rates has resulted in more revenue each time it was tried. Why does the bottom continually trot out this lie? Your fellow bottom doesn't need a reason to be envious of your betters and the intelligent won't believe it because they know better.

So if we dropped it to zero, we would raise more still.

[brassmonkey]

op is this a smoke signal to all that shit brewing in the uk?

[NatalieK]

op is this a smoke signal to all that shit brewing in the uk?

I read the UK are spending hundreds of millions on some f-35 from the US, all are meant to be flawed.

They overheat, bomb bay doors need to be opened & many other faults in the design...

F-35: U.K.'s Fighter Jets Won't Function Fully but Their Cost Has Almost Doubled: Report

PressTV-UK losing millions on flawed F-35 fighter jets

I read if a pilot jumps out, he will probably die

they´re ordering 30 I think, it´s too fill the new ship & each will cost 100million, so that´s like 3 or 4 billion

Ministry of Defence facing 'hundreds of millions in hidden costs' for new fighter jets

[noshit]

Seems Trump´s first years in office are going to come with a big shortfall because of mistakes in projecting military healthcare & a shortfall in tax collections.

With a huge amount of nearly $250million than first estimated!

U.S. deficits to jump $248 billion over next two years due to tax shortfall | Reuters

Maybe he´ll have to put the wall on hold

The European Union is: 7.2% of the World Population. 23.8% of the World?s GDP.
... and 58% of the World?s Welfare Spending

Nolts, all of ya. And stay the fuck over there

.