CRN Politics

By Barry Secrest

We've seen a great deal of howling from both conservative deficit hawks & Liberal tax and spend authoritarians concerning the Trump tax cut and our still-burgeoning deficit that seems to be rising no matter who's in office, at the time.

So what gives? And, why are so many of us "hardcore conservatives" not as concerned about our $20 Trillion debt?

Simple, we actually have a plan for rapid growth under Trump in place rather than a plan for a mismanaged decline, as under Obama, to put it succinctly.

The economy is on fire and the US Military is being re-funded.

Also, we have what's called the Laffer Curve, finally at work:

So, what is the Laffer Curve?

Simple, it's that graphic point where lowered taxes meets an intersect which exists just before tax avoidance starts taking place and, a sweet spot for revenue collections, if you will.

Not only that, instead of the government confiscating taxes & holdings from both citizens and businesses (that, in many cases, neither can scarcely afford to pay) now, we have a considerable amount of funds being retained & spent by both the populace and the business sector.

This means, in essence, that instead of Big Gov squandering massive amounts of money with corporate kleptocrats and crony capitalists (also known as corporatism) the money's being held for both economic and business expansion by the citizenry & the private sector.

It's true stimulus-ism on steroids!

So, what's the verdict so far?

Big Money, Big Money, Big Money!

Through January, as a result of Trump's tax cut, as signed into law in December, the government's already collected a record amount of taxes, and we're only getting started.

According to a report from CNS News:

The record total federal taxes the Treasury has collected in the first four months of this fiscal year have included: 

• $606,726,000,000 in individual income taxes
• $75,533,000,000 in corporation income taxes;
• $371,931,000,000 in Social Security and other payroll taxes
• $27,738,000,000 in excise taxes
• $7,550,000,000 in estate and gift taxes
• $12,634,000,000 in customs duties; and $32,637,000,000 in miscellaneous other receipts.

 Also, instead of companies sitting barely above idle along with the looking-for-work couch potatoes, now, we have companies working overtime just to keep up, which means that America's quickly becoming uber-productive, which then means more tax revenue from companies and individuals instead of growing payouts for unemployment and welfare benefits.

Which by the way, then means a far greater & growing domestic product, which ultimately boils down to this president's impetus to grow America out of its monolithic debt rather than cutting the value of the dollar and constantly adding more treasury bonds in feeble attempts at appeasing treasury bond interest payouts.

Oh, there are still problems, don't get me wrong, but, the cup is quickly becoming more half-full every day rather than more half-empty.

The rest of the story from CNS News:

"CNSNews  The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.  

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.  

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for the fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator). 

The Treasury not only collected record taxes in the month of January itself but has now collected record tax revenues for the first four months of a fiscal year (October through January). 

So far in fiscal 2018, the federal government has collected a record $1,130,550,000,000 in total taxes"...

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