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[Charles West]

Use a differen
These are results for how much tax revenue starved by trump's tax cuts
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AI Overview


Estimates from the Congressional Budget Office (CBO) and other organizations project that the individual tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA) and additional proposals by Donald Trump could reduce federal revenue by more than $5 trillion over the next decade
. The specific amount depends on which temporary provisions are extended and how additional tax and spending changes are implemented.
Budgetary impact over the next decade (2025–2034)
Because most individual tax cuts from the TCJA are set to expire at the end of 2025, the revenue impact over the next decade depends heavily on whether they are extended.

• Cost of extending the TCJA: The Tax Foundation projects that making the expiring TCJA provisions—covering individual, estate, and some business taxes—permanent would reduce federal revenue by $4.5 trillion from 2025 to 2034. This would increase the national deficit by $5.4 trillion over the same period when accounting for higher interest costs on the debt.
• Cost of a new tax plan: Proposed legislation signed in July 2025, known as the "One Big Beautiful Bill Act," would make the 2017 tax cuts permanent and enact other tax changes. The Tax Foundation estimates this law will reduce federal revenue by $5 trillion over the next decade. The Congressional Budget Office estimates it will increase the deficit by $4.1 trillion, including interest costs.

Shortfall compared to earlier projections
The tax cuts have caused revenues to fall significantly below projections made before the TCJA was passed.

• Pre-TCJA vs. actual revenue: The Center for American Progress found that federal revenues in 2023 were 1.5 percentage points lower as a share of GDP than projections made prior to the tax cuts. This equates to a difference of over $800 billion annually, despite a richer economy and similar employment rates.
• No evidence of paying for itself: An analysis by the University of Chicago Booth School of Business concluded that the TCJA's revenue losses were not offset by increased economic growth. While the tax cuts did boost investment, they were not enough to make up for the substantial corporate tax revenue losses.
• Historic revenue lows: Federal revenues measured as a percentage of GDP are at historically low levels, given the current strength of the economy and high employment rates. This contrasts with pre-TCJA trends, where revenues consistently exceeded 19% of GDP during times of low unemployment.

Factors complicating revenue analysis
t term for it then. The facts are there.

Go to Treasury.org and look at the historical record, not at predictions of what could happen prior to passage.

 

[Mike Ault]

What an idiot statement to make. Compare the income of this nation to that of the Obama and Bush years for example. Taxes have doubled since 2009. It's wasteful spending that is the problem.
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AI Overview

It is highly unlikely that your total taxes have doubled since 2009. While tax revenues have increased significantly in nominal dollars, this is largely due to economic growth and inflation rather than a general doubling of individual tax rates

. The average federal tax rate, for example, was at a historical low around 2009.

Here is a breakdown of how different tax categories have changed since 2009.

Federal individual income taxes
The total amount of individual income tax revenue collected has increased since 2009, but the structure has not doubled overall.

• Income tax rates: The highest federal individual income tax rate fluctuated in the years after 2009. It rose from 35% in 2012 to 39.6% from 2013 to 2017, but was then reduced to 37% by the Tax Cuts and Jobs Act of 2017.
• Tax brackets: Since 2009, the income thresholds for all tax brackets have been adjusted upwards to account for inflation, preventing "bracket creep" where taxpayers are pushed into higher brackets by cost-of-living pay increases.
• Effective tax rates: During the recession in 2009, the average effective federal tax rate hit a historical low, and has remained relatively low since then.

Federal corporate income taxes
Corporate taxes have fallen significantly since 2009, both in terms of the statutory rate and as a percentage of the overall economy.

• The flat corporate tax rate was slashed from 35% to 21% by the 2017 tax law.
• Since 2009, revenue from the federal corporate income tax has averaged just 1.2% of GDP, the lowest in American postwar history.

 

[Charles West]

The amount of corporate taxes collected by the Treasury is good news, as corporate taxes are paid by consumers, known as a passthrough tax.

 

[cashcatz]

The amount of corporate taxes collected by the Treasury is good news, as corporate taxes are paid by consumers, known as a passthrough tax.

Exactly, I've tried to explain for years that corporations don't pay taxes, their customers do.

 

[glenn walker]

The United States should file a Sovereign Bankruptcy and default on all foreign debts and start over with a clean balance sheet. Then triple military defence to eliminate anyone who complains. We don't or won't need foreign money and our Major Corporations do it all the time. The New World Order has to be debt free.

 

[Charles West]

Exactly, I've tried to explain for years that corporations don't pay taxes, their customers do.

Tell that to the low-information lefties consumed by class-envy. They don't realize they are frigging themselves by demanding high corporate taxes in their never-ending virtue-signaling quest for righteousness.

 

[glenn walker]

Don't declare it just file a Sovereign Bankruptcy and clean the slate. It's all just zeros that don't matter anyway.

 

[Mike Ault]

The United States should file a Sovereign Bankruptcy and default on all foreign debts and start over with a clean balance sheet. Then triple military defence to eliminate anyone who complains. We don't or won't need foreign money and our Major Corporations do it all the time. The New World Order has to be debt free.

I don't know if this idea is worth a damn or not, but I like it....

 

[glenn walker]

I don't know if this idea is worth a damn or not, but I like it....

Fannie and Freddie essentially filed bankruptcy on the American tax payors and that's okay but it's bad to wipe out foreign Nations debt ? Our biggest corporations have been doing it for hundred years and nobody cared if Mom and Pops stocks and bonds became worthless. As long as your military is big enough you can tell everyone to go F off and their not doing squat. No debt we don't need foreigners trade but they will come back because they need us. Also implement a Sovereign Dividend check of thousands every 6 months to everyone over 18 with no qualifications.

 

[Tom D]

The states are prohibited from doing a bankruptcy. But at some point their underfunded pensions will leave no money for anything else. Probable true for the Fed government employees, they are retirement underfunded. The is a ticking economic atomic bomb. Blowing up bigley.