The Biden Economy

[finnbow]

Originally Posted by whell

Well at least we can agree that Krugman is stupid.

Still waiting for you to show me the $2 trillion dollar reduction in Federal revenue between 2017 - 2021.

One must estimate what revenue would have been before one can estimate the impact. Also, the tax cuts will be diminishing revenues thru 2025, not 2021.

https://www.cnbc.com/amp/2019/12/05/...ts-report.html

U.S. tax revenue as a proportion of GDP dropped the most out of any country in the Organisation for Economic Co-operation and Development in 2018, according to a report released Thursday.

That's largely due to the $1.5 trillion GOP tax cut President Donald Trump signed into law in 2017.

And there is more:

Corporate tax revenues fell 31% in the first year after the cut was passed. Overall tax revenues have declined as a share of the economy in each of the two years since the tax cut took effect.

https://www.npr.org/2019/12/20/78954...-gops-promises