Liberal Forum

Blackvegetable » 24 minutes ago » wrote: ↑

24 minutes ago

During a global plague.

That's MONETARY policy...the province of the Federal Reserve.

that would be Biden.

There will be no link for this, right, No Blood?

How did Grifty do that?

Stupid white cretins like you are the bane of this nation.

• In fiscal year 2022, federal tax revenues reached a record-high of $4.9 trillion – $1.6 trillion or 48 percent higher than when the Trump tax cuts were passed and $884 billion higher than CBO’s projections for 2022. 
  • Corporate tax revenues reached a record-high of $425 billion – $128 billion or 43 percent higher than when the Trump tax cuts were passed and $72 billion higher than CBO’s projections for 2022.
  • Individual tax revenues reached a record-high of $2.6 trillion – over $1 trillion or 66 percent higher than when the Trump tax cuts were passed and $642 billion higher than CBO’s projections for 2022.
  • On average, revenues increased $205 billion per year over CBO’s projections.
• In the first two years after passage of the Trump tax cuts, GDP growth was a full percentage point higher than CBO’s pre-TCJA forecast. 
  • According to the White House Office of Management and Budget, every additional one percent of sustained GDP growth will result in $600 billion in new revenues over 5 years and $2.8 trillion over 10 years.
• Following passage of the Trump tax cuts… 
  • Real median household income rose by $5,000 – a bigger increase in just two years than in the prior eight years combined.
  • Wages increased 4.9 percent, the fastest two-year growth in real wages in 20 years.
  • The poverty rate and unemployment rate reached their lowest levels in 50 years, with all-time lows in unemployment among African American and Hispanic workers, and those without a high-school degree.
  • The bottom 20 percent of earners saw their federal tax rate fall to its lowest level in 40 years.
  • Americans earning under $100,000 received an average tax cut of 16 percent.
  • The share of taxes paid by the Top 1% of households increased while the tax burden paid by lower income earners decreased.
• Allowing the Trump tax cuts to expires will mean higher taxes on working families and businesses, including… 
  • A family of four earning $75,000 will owe an additional $1,500 in taxes.
  • A family of five with two earners making around $100,000 will owe an additional nearly $7,500 in taxes.
  • The Child Tax Credit will be slashed in half from $2,000 down to $1,000.
  • The guaranteed deduction that 90 percent of taxpayers use to simplify their tax filing will be slashed in half.
  • The 20 percent deduction that helps small businesses compete with larger corporations goes away leaving small businesses facing a 43.4 percent tax rate.
• There have been no changes to CBO’s methodology to address other miscalculations… 
  • For fiscal year 2023, CBO under projected the budget deficit by $1 trillion.
  • The green tax provisions in the Inflation Reduction Act (IRA) were originally estimated to cost $400 billion through FY 2031. This has since been revised up by two-thirds, to about $660 billion through FY 2031 or $790 billion through FY 2033

“Show me the man and I’ll find you the crime” LAVRENTIY BERIA