^ That is why dems are starting to panic that their big blue wave is going to be nothing more than a ripple by the time midterms come around. Even with the media on your side it’s hard to sell your lies of “the tax cut for the rich” when people keep seeing their significantly higher take home pay in their checks. Nancy Pelosi is the gift that keeps on giving too. Her calling the money average American’s considering a sizable amount crumbs, repeatedly, is a campaign manager’s wet dream. As much as I hate her and feel she is just a horrible person to her core I hope her district never stops voting her back in because she’s such a great fundraiser and turnout driver for the right.
In the month of January, which reflects some of the changes from the GOP’s $1.5 trillion tax cut bill, the U.S. Department of the Treasury collected just over $361 billion (approx. $361,038,000,000) in total tax revenues, a record for the month of January.
While the feds collected $361 billion, they managed to spend about $49 billion less: $312 billion (approx. $311,802,000,000). That $49 billion surplus helped chip away at the deficit from the previous months of fiscal year 2018, which now stands at almost $176 billion ($175,718,000,000) for this fiscal year.
The total tax revenues collected in the first four months of FY2018 (approx. $1,130,550,000,000) are the most ever collected in the same period. The FY2018 revenues include $603 billion in individual income taxes, $372 billion in Social Security and other payroll taxes, $76 billion in corporate income taxes, and $81 billion in other taxes and duties. In January alone, the Treasury collected $212 billion in individual income taxes, $113 billion in Social Security and payroll taxes, $13 billion in corporate income taxes, and $23 billion in other taxes and duties.
Hmmm
where is this from and how can you have the first 3 months of FY 2018 in mid-Feb?
Shapiro
The federal budget FY2018 is from October 1, 2017, through September 30, 2018
Here’s the pdf of the treasury report
https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0118.pdf
Where is the extra revenue generated from? I would have to guess a big chunk of that is from corporations repatriating funds and paying the 15% taxes on it. There’s ~$2.6 Trillion in overseas cash stashes that can now come back with the 15% tax, so ~$390 Billion. [Reuters]
It’s probably just a nice kickstart from the tax bill but I’m not seeing any signs of this being something that will keep happening.
I feel like I’ve heard this before…
Sent from my SAMSUNG-SM-G935A using Tapatalk
Feel free to add some of your thoughts on it. I’m merely asking the question to understand it.
If Trump enacts the reciprocal taxes he is discussing it will make up a significant portion or perhaps more than the expected reduction in personal and corporate taxes.
He would in effect be externalizing the tax burden onto importers. Ultimately of course those taxes find their way to American buyers in the form of cost increases but they are collected at import.
Given that everyone is going to have more money it would simply be a consumption tax that renders American made goods more competitive by increasing the prices of imported goods.
This creates further bullishness on US jobs at the expense of foreign jobs.
It is exactly what every other country, including and especially Canada, uses the US for.
*edit.
i should add, this all comes at considerable expense to foreign nations. Canadian news outlets are really trying to minimize the outlook, however, business leaders in Canada, especially C-suite guys at energy companies, are now regularly on the Canadian business news advising of the massive exposure Canada has. We just has a terrible jobs report as well.
Trudeau is being criticized by these energy leaders for having too much of a ‘social’ agenda rather than a pro-business agenda. Our tax haven status vs. the Us has been removed and many large companies with US and Canadian operations are already publicly stating they are ending investment in Canada and sending it all to the US.
The media is also ‘framing’ the news so as not to create panic up here. when the jobs report came out the BNN title said… “DON’T PANIC”…
That makes sense. Good response, @bing :tup: People could argue that it may do too much and alienate foreign markets but I don’t really see that to be the case. Other markets rely on the US way too much for that to happen.
I wonder how much lost tax revenue from the individual and corporate rates going down will be made up for on import taxes. This may be some good reading for tomorrow but if anyone knows about it, post it up.
i am being speculative and paraphrasing based on my own understanding of how markets work.
What i struggle to rationalize is how the Left / Democrats have branded themselves more social but have essentially driven and espoused policy that sells access to the American economy to foreign nations or uses the American economy as a tool for spreading US influence abroad. We’ll give you access to our market if you do X, Y and Z.
To be honest, there is quite a bit of merit to that in the cases of South Korea and Japan over the last 50+ years.
I think what makes the current environment so divisive, by way of a pulling back of the application of the theory i have just mentioned, is that these foreign nations seem to have developed a sense of entitlement to the US economy that conservatives are annoyed with.
The same theory applies to the use of the US military force as World Police. It has enabled all other western nations to reduce spending on military efforts and use those funds to invest in social programs that the US doesnt have.
Then when all these other nations are critical of the US for not having universal health care and high levels of inequality the annoyed conservatives, through Trump, are now saying… yeah, fuck you… we pay for your universal healthcare with our drones and F18’s so maybe we’ll dial it back a bit (reciprocal import taxes and enforcing NATO spending) and you can suck a fat dick for 8 years and see how you like it.
Basically what will happen is that Canada and others will have to either cut services (decrease social programs, end subsidies to protected industries) or increase taxes or some combination thereof. Up here they are trying to enact a carbon tax because we need to keep increasing taxes on everyone to pay for our many social programs. But it looks like we are meeting some new resistance given what Trump is doing.
So yes, it hurts Canada (and me) but i am thoroughly impressed with Mr Trump’s ability to get it done. His imperfection is what makes him invincible to the many attacks. For example this Stormy Daniels thing. I honestly hope he railed the hell out of her on regular occasion and Melania just says yeah that was part of the deal and i’m fine with it. I think Leftists don’t realize that this would be a revolutionary thing for successful men to have that go mainstream.
Alienate foreign markets, lol. That’s a good one. You underestimate the power of the American consumer.
Might need to work on your reading comprehension, cupcake.
Well this sucks:
FBI Statement on the Shooting in Parkland, Florida
On January 5, 2018, a person close to Nikolas Cruz contacted the FBI’s Public Access Line (PAL) tipline to report concerns about him. The caller provided information about Cruz’s gun ownership, desire to kill people, erratic behavior, and disturbing social media posts, as well as the potential of him conducting a school shooting.
Under established protocols, the information provided by the caller should have been assessed as a potential threat to life. The information then should have been forwarded to the FBI Miami Field Office, where appropriate investigative steps would have been taken.
We have determined that these protocols were not followed for the information received by the PAL on January 5. The information was not provided to the Miami Field Office, and no further investigation was conducted at that time.
FBI Director Christopher Wray said:
“We are still investigating the facts. I am committed to getting to the bottom of what happened in this particular matter, as well as reviewing our processes for responding to information that we receive from the public. It’s up to all Americans to be vigilant, and when members of the public contact us with concerns, we must act properly and quickly.
“We have spoken with victims and families, and deeply regret the additional pain this causes all those affected by this horrific tragedy. All of the men and women of the FBI are dedicated to keeping the American people safe, and are relentlessly committed to improving all that we do and how we do it.”
Holy fuck. It was bad when the youtube comment went disregarded but at least you could say, “well, it could just be an internet troll”. This was someone close to him, detailing EXACTLY WHAT HE ENDED UP DOING.
Yup. Fucked up for sure. So multiple people “saw something and said something”, but then nothing happened. Great.
EDIT: Im still not sure how they couldnt find him after the youtube thing.
I don’t think it’s that they couldn’t find the youtube comment he made with a username THAT WAS HIS ACTUAL NAME, it’s that they get probably 1000’s of tips a day about random internet comments and they just don’t put a whole lot into a single line comment like, “I’m going to be a professional school shooter”. In hindsight it’s obviously upsetting but I’m not sure we could ever have enough law enforcement to investigate every reported internet post. This FBI press release isn’t about that though. They said, “Someone close to Cruz called and told them who he was, that he was unstable, that he wanted to kill people, that he had guns and that he might shoot up a school”. In terms of actionable intelligence that’s light years away from an internet comment and the more I think about these grieving families and how the FBI handles this the more I want to see the entire FBI burned to the ground and rebuilt from scratch.
It’s not like this is the first time they’ve dropped the ball either. [FONT=inherit][FONT=inherit]The Chelsea bomber? His own dad told the FBI his son was probably a terrorist, they did nothing. Boston marathon brothers? Russia told us they were terrorists. The FBI opened an investigation and said, “nah, they’re good”. A year later their names pop boarding a flight at JFK traveling to Dagestan, Russia, a known hotbed of terror activity. You’d think that might throw up some kind of giant flag considering the file on them? Nah, nothing done, allowed to return to the US with no issues and months later they bomb the marathon. Between all this and the crap coming out about the election just burn it all down and start over.[/FONT][/FONT]
13 Russian Nationals have been indicted for interference in the 2016 presidential election.
This is specified in the article:
“A 37-page indictment alleged that the Russians’ operations “included supporting the presidential campaign of then-candidate Donald J Trump … and disparaging Hillary Clinton,” his Democratic opponent.”
Man, these witch hunts sure are persistent.
