Tax Cut Truth: Government Revenue Surges Despite Expectations, Spending is the Real Issue

New Report Debunks Tax Cut Myth: Government Revenue Surpasses Projections

Tax Cuts Didn’t Cause Deficit: Spending is the Real Problem, Say Experts

According to WashingTonExaminer, a new report from the Heritage Foundation says that the federal government‘s tax revenues are growing faster than expected. This means that the 2017 tax cuts didn’t cause a big decrease in revenue, as some people thought. Instead, it’s the government’s spending that’s causing the problem.

The report looked at how much money the government expects to make over the next 10 years. Without the tax cuts, they thought it would be $40.7 trillion. After the tax cuts, they thought it would be $39.6 trillion. But now, with more recent numbers, they think it will be $41.3 trillion! That’s $1.7 trillion more than they thought.

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Tax Cut Truth: Government Revenue Surges Despite Expectations, Spending is the Real Issue (PHOTO: GOOGLE)

Corporate Tax Revenues Boom: A Surprising Windfall for the Government’s Budget

The report also shows that corporate taxes are higher than expected. In fact, corporate taxes will be $569 billion this year, which is more than double what they were two years ago. This means that the government has more money coming in than they thought. So, instead of raising taxes, we need to look at why the government is spending so much money and fix that problem instead.

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