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It's Now Happening - Budget Deficit
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Redwingtom Offline
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Post: #11
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:32 PM)Attackcoog Wrote:  
(02-08-2018 11:09 AM)Redwingtom Wrote:  Number had been decreasing for quite awhile. It's now currently increasing.

Muh tax cuts increase revenue...

http://www.usdebtclock.org/

Ehh. One big component is the repatriation of overseas money. Its not like the overseas revenue returning to the US has begun to hit. Thats going to be more of a lump sum thing that hits after April 15th. So, lets see how things look in a few months. My guess is thats certainly goin to make a difference this year and will be a smaller factor going forward. The real key is if ignites more economic growth which would increase regular revenue coming into the treasury.

Not sure what April 15th has to do with anything. Any money brought back now would not be a part of 2017 taxes filed in April.

And FWIW - If the tax cut turns this around and starts increasing revenues and reducing the deficit, I'll gladly thank trump and say I was wrong.
02-08-2018 12:38 PM
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Bull_Is_Back Online
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Post: #12
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:28 PM)Redwingtom Wrote:  
(02-08-2018 11:18 AM)Bull_Is_Back Wrote:  Tell me... What's the revenue clock on that page saying?

It says the government is taking in revenue. That's income taxes, payroll taxes, corporate tax, duties and excise taxes.

Do you need this explained further?

So is revenue going up since the tax cut? I'm curious... Are there two multiple parts to debt or not?
02-08-2018 12:40 PM
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GrayBeard Offline
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Post: #13
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:38 PM)Redwingtom Wrote:  
(02-08-2018 12:32 PM)Attackcoog Wrote:  
(02-08-2018 11:09 AM)Redwingtom Wrote:  Number had been decreasing for quite awhile. It's now currently increasing.

Muh tax cuts increase revenue...

http://www.usdebtclock.org/

Ehh. One big component is the repatriation of overseas money. Its not like the overseas revenue returning to the US has begun to hit. Thats going to be more of a lump sum thing that hits after April 15th. So, lets see how things look in a few months. My guess is thats certainly goin to make a difference this year and will be a smaller factor going forward. The real key is if ignites more economic growth which would increase regular revenue coming into the treasury.

Not sure what April 15th has to do with anything. Any money brought back now would not be a part of 2017 taxes filed in April.

And FWIW - If the tax cut turns this around and starts increasing revenues and reducing the deficit, I'll gladly thank trump and say I was wrong.

Were you against Obama's deficit spending?

By the way, I have little faith that the Republican's in power in congress have any idea of how to reduce the deficit. I just want to enjoy my $$$ before the end comes.
02-08-2018 12:40 PM
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Kaplony Offline
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Post: #14
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:40 PM)GrayBeard Wrote:  By the way, I have little faith that the Republican's in power in congress have any idea of how to reduce the deficit. I just want to enjoy my $$$ before the end comes.

Exactly!


If given the choice between increasing the national debt and keeping my own money and increasing the national debt and the government acquiring my money by armed robbery I prefer to keep my own money.
02-08-2018 12:44 PM
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Redwingtom Offline
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Post: #15
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:40 PM)Bull_Is_Back Wrote:  
(02-08-2018 12:28 PM)Redwingtom Wrote:  
(02-08-2018 11:18 AM)Bull_Is_Back Wrote:  Tell me... What's the revenue clock on that page saying?

It says the government is taking in revenue. That's income taxes, payroll taxes, corporate tax, duties and excise taxes.

Do you need this explained further?

So is revenue going up since the tax cut? I'm curious... Are there two multiple parts to debt or not?

That's not what that says. It's just the money we are collecting. I assume since the start of the year, but not positive about that. The percentage is the increase in revenue since 2000.

You need to also look at the expenses to see they are outpacing revenues...hence the deficit. (4.038 expenses less 3.355 revenues = 683 deficit)
02-08-2018 12:45 PM
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Redwingtom Offline
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Post: #16
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:40 PM)GrayBeard Wrote:  
(02-08-2018 12:38 PM)Redwingtom Wrote:  
(02-08-2018 12:32 PM)Attackcoog Wrote:  
(02-08-2018 11:09 AM)Redwingtom Wrote:  Number had been decreasing for quite awhile. It's now currently increasing.

Muh tax cuts increase revenue...

http://www.usdebtclock.org/

Ehh. One big component is the repatriation of overseas money. Its not like the overseas revenue returning to the US has begun to hit. Thats going to be more of a lump sum thing that hits after April 15th. So, lets see how things look in a few months. My guess is thats certainly goin to make a difference this year and will be a smaller factor going forward. The real key is if ignites more economic growth which would increase regular revenue coming into the treasury.

Not sure what April 15th has to do with anything. Any money brought back now would not be a part of 2017 taxes filed in April.

And FWIW - If the tax cut turns this around and starts increasing revenues and reducing the deficit, I'll gladly thank trump and say I was wrong.

Were you against Obama's deficit spending?

By the way, I have little faith that the Republican's in power in congress have any idea of how to reduce the deficit. I just want to enjoy my $$$ before the end comes.

First and foremost, spending is basically congress' baby not the president. I've never really been against deficit spending...especially when Obama started as money was dirt cheap to borrow and we were on the verge of a great depression.

If it were up to me, I'd either force congress to stop spending and/or increase taxes to balance the budget.
02-08-2018 12:47 PM
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Post: #17
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:45 PM)Redwingtom Wrote:  You need to also look at the expenses to see they are outpacing revenues..

Thanks! You were just so quiet on those for the past eight years or so that I thought they were a non factor.
02-08-2018 01:18 PM
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Post: #18
RE: It's Now Happening - Budget Deficit
(02-08-2018 01:18 PM)Bull_Is_Back Wrote:  
(02-08-2018 12:45 PM)Redwingtom Wrote:  You need to also look at the expenses to see they are outpacing revenues..

Thanks! You were just so quiet on those for the past eight years or so that I thought they were a non factor.

[Image: burn.jpg]
02-08-2018 01:29 PM
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VA49er Offline
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Post: #19
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:31 PM)GrayBeard Wrote:  You do realize that people and businesses have to receive the impact of the tax cuts before they can then put that $ to work and drive more revenue don't you?

You don't expect it to be magic, do you?

It's been proven over and over some folks don't have a clue how economics works. This is just another case.
02-08-2018 01:45 PM
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Attackcoog Offline
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Post: #20
RE: It's Now Happening - Budget Deficit
(02-08-2018 12:38 PM)Redwingtom Wrote:  
(02-08-2018 12:32 PM)Attackcoog Wrote:  
(02-08-2018 11:09 AM)Redwingtom Wrote:  Number had been decreasing for quite awhile. It's now currently increasing.

Muh tax cuts increase revenue...

http://www.usdebtclock.org/

Ehh. One big component is the repatriation of overseas money. Its not like the overseas revenue returning to the US has begun to hit. Thats going to be more of a lump sum thing that hits after April 15th. So, lets see how things look in a few months. My guess is thats certainly goin to make a difference this year and will be a smaller factor going forward. The real key is if ignites more economic growth which would increase regular revenue coming into the treasury.

Not sure what April 15th has to do with anything. Any money brought back now would not be a part of 2017 taxes filed in April.

And FWIW - If the tax cut turns this around and starts increasing revenues and reducing the deficit, I'll gladly thank trump and say I was wrong.

My bad. Your correct. That money wouldn't show up in the treasury until 2018. So---basically it would be very difficult to accurately measure whats really happening with revenue in the first year of the Trump tax law at this point as some major revenue streams from the bill havent even come on line.
02-08-2018 01:50 PM
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