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#1 User is offline   MTP Reggie 

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Posted 15 February 2019 - 08:42 AM

$1,665,484,000,000: Feds Collect Record Individual Income Taxes in Calendar 2018--as Debt Climbed $1,481,349,159,596.80
By Terence P. Jeffrey | February 13, 2019 | 4:31 PM EST
CNS News

<More Surprise Here>

(CNSNews.com) - The federal government collected a record $1,665,484,000,000 in individual income taxes in calendar year 2018, according to the Monthly Treasury Statements for the year, which the Treasury finished publishing today with the belated release of the December statement.

Calendar year 2018 was the first full tax year after President Donald Trump signed the Tax Cuts and Jobs Act on Dec. 22, 2017.

The previous calendar-year record for federal individual income tax revenues was in 2017, when the Treasury collected $1,656,171,550,000 in individual income taxes (in constant December 2018 dollars).

The real federal individual income tax revenues collected in calendar 2018 were $9,312,450,000 more than the real individual income tax revenues collected in calendar year 2017.

At the same time the Treasury was collecting record individual income taxes, the federal debt was climbing from $20,492,746,546,193.75 at the close of 2017 to $21,974,095,705,790.55 at the close of 2018. That was a one-year increase of $1,481,349,159,596.80.

Even as inflation-adjusted individual income taxes increased from calendar year 2017 to calendar year 2018, total federal tax collections declined.

In calendar 2017, total federal tax collections in constant December 2018 dollars were $3,407,503,740,000. In calendar year 2018, they were $3,330,470,000,000—a decline of $77,033,740,000 from 2017.

Corporation income tax collections declined significantly from calendar year 2017 to calendar year 2018. In calendar 2017, the Treasury collected $290,978,980,000 in corporation income taxes (in constant December 2018 dollars). In calendar 2018, the Treasury collected $195,790,000,000 in corporation income taxes—a drop of $95,188,980,000.

That was a decline in corporation income tax revenue of 32.7 percent.

(snip)

<More Surprise Here>
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#2 User is offline   oki 

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Posted 15 February 2019 - 10:20 AM

But but but but but but Orange man bad, cutting taxes bad, we will have charts and graphs telling us all about how if there weren't tax cuts more money would have been collected. Either way, Tax cuts didn't reduce collections one damn bit. Collections only need to grow enough to keep pace with inflation.


Oki
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#3 User is offline   First Sarge 

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Posted 15 February 2019 - 12:04 PM

wasn't this the whole basis of Wyn's razor?
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#4 User is offline   AntonToo 

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Posted 15 February 2019 - 01:32 PM

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.
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#5 User is offline   Howsithangin 

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Posted 15 February 2019 - 02:45 PM

don't care. starve the beast
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#6 User is offline   RedSoloCup 

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Posted 15 February 2019 - 02:50 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.


:yawn:

Nobody cares

View PostHowsithangin, on 15 February 2019 - 02:45 PM, said:

don't care. starve the beast


:exactly:
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#7 User is offline   stick 

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Posted 15 February 2019 - 03:29 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.


I see. But both of those are Trump years so... 🤷🏼‍♂️
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#8 User is online   erp 

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Posted 15 February 2019 - 04:18 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.

You must hold yourself in very high regards. Otherwise, you would have posted a link to your findings.


And "singnificanty down" sounds like a great name for a rock band. Not sure what it means. But cool name bro. :thumbsup:
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#9 User is offline   Rock N' Roll Right Winger 

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Posted 15 February 2019 - 04:45 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.

It's time for reality alright because you just made all of that shidt up. :yes:
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#10 User is offline   First Sarge 

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Posted 15 February 2019 - 04:52 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Time for reality:

In December revenues are AGAIN, down significantly compared to same period last year:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

Thats an unadjusted reduction of 13 billion in revenue...but of course the real shortfall is ~25 Billion after you minimally adjust for expected inflation and baseline economic growth by just 4%.


Same applies for year-on-year comparison, but you must also exclude April because in April 2018 people settled 2017 year taxes at 2017 pre-taxcut rates.

When you do that due dilligence you see that revenues are are very singnificanty down.

NO surprizes, or magic free lunches here.


Can you make it a graph, I need my unsupported info given to me in a graph format.
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#11 User is offline   AntonToo 

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Posted 15 February 2019 - 05:49 PM

View Posterp, on 15 February 2019 - 04:18 PM, said:

You must hold yourself in very high regards. Otherwise, you would have posted a link to your findings.


And "singnificanty down" sounds like a great name for a rock band. Not sure what it means. But cool name bro. :thumbsup:


Link to December Treasury statement is directly in the OP article.

https://www.fiscal.t...ts/current.html
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#12 User is online   zurg 

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Posted 15 February 2019 - 08:56 PM

View PostAntonToo, on 15 February 2019 - 01:32 PM, said:

Dec 2017 (FY20) 326 Billion
Dec 2018 (FY19) 313 Billion

What are you trying to say here....? (Look carefully.)
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#13 User is offline   AntonToo 

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Posted 16 February 2019 - 11:02 PM

View Postzurg, on 15 February 2019 - 08:56 PM, said:

What are you trying to say here....? (Look carefully.)


Zurg what is wrong with you?

In how many ways do I need to explain to you that according to incoming data the revenues are way down for you to understand thats what I'm trying to say?
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#14 User is online   zurg 

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Posted 16 February 2019 - 11:58 PM

View PostAntonToo, on 16 February 2019 - 11:02 PM, said:

Zurg what is wrong with you?

In how many ways do I need to explain to you that according to incoming data the revenues are way down for you to understand thats what I'm trying to say?

Check your dates and get back to me if you figure out the confusion.

I’m not expecting a miracle.
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#15 User is offline   Censport 

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Posted 17 February 2019 - 12:17 AM

View PostRock N, on 15 February 2019 - 04:45 PM, said:

It's time for reality alright because you just made all of that shidt up. :yes:

Again?
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#16 User is offline   grimreefer 

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Posted 17 February 2019 - 02:47 AM

View Postzurg, on 16 February 2019 - 11:58 PM, said:

Check your dates and get back to me if you figure out the confusion.

I’m not expecting a miracle.

:whistling:
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#17 User is offline   RedSoloCup 

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Posted 17 February 2019 - 08:32 AM

View PostRock N, on 15 February 2019 - 04:45 PM, said:

It's time for reality alright because you just made all of that shidt up. :yes:


:exactly: Standard m.o for a retarded leftist
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#18 User is offline   stick 

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Posted 17 February 2019 - 11:33 AM

View PostAntonToo, on 16 February 2019 - 11:02 PM, said:

Zurg what is wrong with you?

In how many ways do I need to explain to you that according to incoming data the revenues are way down for you to understand thats what I'm trying to say?


Question: what is FY20 and how is it relevant in your “explanation”?
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#19 User is online   erp 

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Posted 17 February 2019 - 11:59 AM

View PostAntonToo, on 15 February 2019 - 05:49 PM, said:

Link to December Treasury statement is directly in the OP article.

https://www.fiscal.t...ts/current.html

You do realize your mistake, right?
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#20 User is offline   AntonToo 

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Posted 18 February 2019 - 12:45 AM

View Poststick, on 17 February 2019 - 11:33 AM, said:

Question: what is FY20 and how is it relevant in your “explanation”?


https://pbs.twimg.com/profile_images/998481413476265984/uR4Qbn5c_400x400.jpg

It's not, because FY20 did not yet begin. OBVIOUSLY, Dec 2017 was in FY18 and I simply mis-typed.


No one here can refute that revenues are down form what they ought to be, and I guess all that is left is pointless talking back about spelling and typos.
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