"Total Receipts: Up by 4 Percent in Fiscal Year 2019

Individual income and payroll (social insurance) taxes together rose by $107 billion (or 4 percent).

Corporate income taxes increased by $25 billion (or 12 percent).

It is clear that Trump's tax cuts, in conjunction with regulatory decreases, have yielded much greater economic growth than expected, which yielded higher revenue than the CBO and others projected. This also happened with President George W. Bush's limited, and President Ronald Reagan's across-the-board, tax cuts.

The deficit is up because both parties spend too much, not because corporations and individuals are taxed too little. Higher revenues can never cause an increase in a deficit. The only thing that can cause the deficit to rise is the government's insatiable appetite."


So let's recap, shall we? Individual revenue up 4%, despite individual tax rates and withholdings going down. Gee, I wonder how that could possibly happen. Corporate revenue up 12%! (Have to admit I didn't even see that coming considering the hefty cut in those rates) Projections from the "experts", not surprisingly weren't worth a chit. (not that this will stop the dishonest folks from claiming this added $1.5T to our debt of course) And our deficit still ballooned to $984B for FY19.

And that's before touching on all those tariffs China is paying. (sorry, couldn't Resist that last dig)