So how is the
government side of tax collections doing?
Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases. The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion.
Gee, the Republican cuts to business taxes have reduced business tax paymenst by almost one third and the expected drop in business tax revenues is double what was expected? On top of that the business tax revenues are continuing to fall when Republicans projected that they would rise? Plus taxpayers are now paying $93 billion more in taxes while businesses are paying $91 billion less? All of this while corporate profits are sky high and business taxes are the lowest they've been in over 50 years? And all of this great news is only going to add $400 billion to the national debt? I bet conservative voters are really happy that their party is coming up with all of these great ideas for America and our economy.
What Brownback did to the economy of Kansas is nothing compared to what this shit is going to do to the economy of our country. Three people in the United States now have more wealth than the combined total wealth of the bottom 50% and Republicans still think that isn't enough for those three people.
Knowing all of this and reading the bootlickers in this thread who are happy with the tax cuts is really something to see. I live in a small conservative town in Oregon. We just had three measures that we voted on that are quite telling. The first was a lodging tax for the unincorporated areas of the country... it passed. The second measure was an advisory issue asking if the people of the county would be willing to establish a 1.5%-2% sales tax, which went down in flames 83% against, 17% for. The third measure was another advisory question asking if the people of the county would want to establish a tax on marijuana growers, which passed 63% for and 37% against. Luckily state law prohibits counties from doing that but five counties in the state (all conservative) are pushing Salem to allow them to do so. Never mind the county already collects a sales tax on every purchase, now they want to tax the product before we can buy it and get taxed again. IOW, my conservative neighbors sure as hell don't want any new taxes on themselves but are more than happy to impose taxes on others to benefit themselves.
Conservatives like taxes, they just want everyone but themselves to pay them. Cheap, skinflint pricks who would cut off their noses to spite their faces, which is what they did in electing the assholes who passed this tax bill.