It’s almost like math and science work and liberal redistribution is nonsense, ain’t it? Almost exactly like that, in fact, as Hot Air’s Jazz Shaw was astute enough to point out this week.
The tax cuts last year, which you may remember were somehow both devastating to the economy and also insignificant “crumbs” depending on which minute of the day you happened to be asking a Democrat about them, did both of the the things that Trump and the Republicans promised. That’s right: BOTH.
For one thing, they put money in the pocket of regular folks like you and me. Walking around money. Both because of lower taxes, and in the form of increased wages, one-time or recurring bonuses, and lots of other perks.
For the other, they resulted in HUMONGOUS TAX REVENUE TO THE GOVERNMENT. Remember how it was going to cripple us and take money out of the budget to give to the rich fatcats in big business?
Wrong again, socialists.
Well, guess what? Just 47 weeks after Trump put his flamboyant signature on the bill, it’s all happening.
Unemployment is at an historic low. Employment is at an all-time high. Wagers are growing after years of stagnation.
And now from all that increased economic activity, the federal government has just reported historic record tax revenues in October, the first month of the new fiscal year, of $252,692,000,000.
That’s more than $11.4 billion above revenue for October of last year, which was the previous record tax revenue for an October.
And it did this by collecting more than $3 billion less in personal income taxes, thanks to the tax cuts.
CLICK HERE TO VISIT HOT AIR AND READ THE NUMBERS AND DATA.
Go ahead, it opens a new tab, I’ll be here when you get back.
That was great right? I love the smell of being right in the morning. Or evening, as the case may be.