I agree there are lots of factors, but it's hard to put a lot of blame
on revenues when revenue growth actually INCREASED after the cuts. You can never truly know what revenues would have been without the tax cuts, but I'm pretty sure the $200 billion cost per year that has been claimed is not correct. In order to believe that revenues would have been higher by $200 billion per year without the tax cuts, you'd have to believe that the base case was:
2016.....1%
2017.....1%
2018.....6%
2019.....10%
That strains credulity
I think the obvious answer on the deficit is that it increased because spending increased by 8% in 2019.
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In response to this post by 111Balz)
Posted: 10/11/2019 at 08:43AM