The Tax Cut Posted on 3/23/2018 at 12:29:30 by Will Croom 2
The latest budget figures from the Treasury Department demonstrate a concept we already knew but too many politicians continue ignore – we have a spending problem, not a revenue problem.
One would have expected gross revenue to plummet in February once the new tax rates were applied to withholdings for this year. By February everyone should have seen the effects of the tax cut and revenue to the Treasury should have shrunk noticeably. After all, on some measure this was the largest tax cut in history. Yet compared with February 2017, gross revenue was nearly unchanged. It actually ticked up very slightly by $1.36 billion. Replies: There have been no replies.