90 Miles From Tyranny

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Saturday, October 20, 2018

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Friday, October 19, 2018

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Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts

Taxes: Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal year 2018, as the economy grew faster and created more jobs than expected.

The Treasury Department reported this week that individual income tax collections for FY 2018 totaled $1.7 trillion. That's up $14 billion from fiscal 2017, and an all-time high. And that's despite the fact that individual income tax rates got a significant cut this year as part of President Donald Trump's tax reform plan.
Income Taxes After Trump Tax Cuts

True, the first three months of the fiscal year were before the tax cuts kicked in. But if you limit the accounting to this calendar year, individual income tax revenues are up by 5% through September.

Other major sources of revenue climbed as well, as the overall economy revived. FICA tax collections rose by more than 3%. Excise taxes jumped 13%.

The only category that was down? Corporate income taxes, which dropped by 31%.

Overall, federal revenues came in slightly higher in FY 2018 — up 0.5%.

Spending, on the other hand, was $127 billion higher in fiscal 2018. As a result, deficits for 2018 climbed $113 billion.

Let's compare these results with Obama's last full fiscal year in office, 2016.

Individual income tax revenues went up by a mere 0.3%, Treasury data show. Fiscal 2016 also saw a 13% drop in corporate income taxes. FICA tax collections climbed by less than 1%. Excise tax collections dropped almost 3%.

Overall revenues increased by 0.5% — about the same as this year. The deficit? It climbed by $148 billion.

So, in other words, the government did better on revenues and deficits in the year after Trump's tax cuts went into effect than it did in Obama's last year in office.

Trump Tax Cuts To Blame For Deficit?

To this, critics say, yes, but revenues would have climbed faster had it not been for the tax cuts, because the economy was booming in 2018, unlike in 2016.

Not necessarily.

Yes, the economy was booming in fiscal 2018. But it probably wouldn't have been booming without the tax cuts. Had Trump not succeeded in getting his pro-growth tax cuts across the finish line, it's possible we'd have seen a year like Obama's last one. A sluggish economy, barely increasing federal revenues, and a large increase in deficits.

Does that mean Trump's tax cuts are fully "paying for themselves"? We wouldn't make that argument. But the faster economic growth is clearly offsetting at least some of their costs — which is precisely what...

It is Time To Ban This Death Cult From Operating In The United States..


Fabricating Hate Crimes Is a Byproduct of Victimhood Ideology on College Campuses

Anna Ayers, a student government leader at Ohio University, reported finding threatening messages in the drawer of her desk a few weeks ago.

Ayers, an LGBT student, said the three notes were “hateful, harassing,” according to The Post Athens, a student-run news outlet, and made specific attacks on her sexual identity.

“Senate will never be the same for me,” Ayers told The Post of the notes, the first of which she said appeared Sept. 27 in her desk at the Student Senate. “The friendships will continue to grow, and our successes will always evoke pride, but the memory of my time in senate and at OU will be marred by this experience. We will all have a memory of a time when this body failed one of its own.”

The incident caused a stir on campus. The problem was, that stir was based on a lie.

Police quickly concluded that no hate crime had taken place, and that Ayers actually had written the notes to herself.

The authorities charged Ayers with a misdemeanor, to which she pleaded not guilty. She is no longer a student at the university.

Incidents like this have become a strikingly common trend inthe past few years, especially on college campuses.

While most alleged hate crimes on campus go unsolved, it is hard to ignore the fact that so many hoaxes have occurred.

A variety of motivations may prompt a student to make up a hate crime, but one thing is for certain: The overwhelmingly dominant ideology on college campuses celebrates victimhood, even above achievement, and achievement itself is worthless without victimhood.

If one doesn’t maintain some kind of victimhood status, your opinion is worth less, your accomplishments are dismissed, and your success is written off as the product of privilege.

It’s no wonder Sen. Elizabeth Warren, D-Mass., continues to maintain that she has Native American heritage—which Harvard Law School once openly celebrated—despite the thinnest of evidence that she has any connection to the Cherokee tribe.

For students seeking attention and accolades from peers on a modern college campus, it may make sense to create the false impression that you have become the victim of a hate crime or some other kind of oppression.

This is especially true given how quickly the stories are exploited for...

NANCY PELOSI TOLD TO GET OUT BY CUBAN AMERICANS IN MIAMI