Trickle Down

[SaturdayGT 719]

   So apparently the new tax cuts are what many consider as trickle down economics. Trickle down always made sense to me, but many say it never worked or that it raised the national debt through the roof. Then I hear it was the democratic congress that jacked up spending to raise the debt. There has been many arguments  back and forth on how it helped or hurt our economy.  I figured that we could keep track of a few things year to year, or month to month, or however, to see how things truly pan out with this. +

 

 

 

2017 TOTAL TAX REVENUE

https://www.usgovernmentrevenue.com/total_2017USrt_19rs1n

Total Government Revenue in the United States   Fiscal Year 2017
	Federal Direct Revenue	$3.3 trillion
	State Direct Revenue	$1.6 trillion
	Local Direct Revenue	$1.3 trillion
	Total Revenue	$6.2 trillion

 

**The United States federal government's fiscal year is the 12-month period ending on 30 September of that year, having begun on 1 Octoberof the previous calendar year.**

 

 

 

GOVERNMENT SPENDING IN 2017

https://www.usgovernmentspending.com/total_2017USrt_19rs5n

Total Government Spending in the United States   Fiscal Year 2017
	Federal Gross Spending	$4.0 trillion
	Intergovernmental	$-0.7 trillion
	State Direct Spending	$1.8 trillion
	Local Direct Spending	$1.9 trillion
	Total Spending	$6.9 trillion

 

 

 

 

CURRENT NATIONAL DEBT

 

Federal Debt Clock

Today’s Federal Debt is $20,492,874,492,282.58.

The amount is the gross outstanding debt issued by the United States Department of the Treasury since 1790 and reported here.

But, it doesn’t include state and local debt.

And, it doesn’t include so-called “agency debt.”

And, it doesn’t include the so-called unfunded liabilities of entitlement programs like Social Security and Medicare.

Federal Debt per person is about $62,804.

 

 

CURRENT GDP

https://www.bea.gov/newsreleases/glance.htm

Gross Domestic Product (GDP)

Current Numbers

• 3rd quarter 2017: 3.2 percent
• 2nd quarter 2017: 3.1 percent

 

 

EMPLOYMENT

Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

 

 

MEDIAN HOUSEHOLD INCOME

https://census.gov/library/visualizations/2017/comm/income-map.html

 

 

 

   Ok, Im not an economic Guru with this stuff, but those are a few things that are worth keeping an eye on with the new taxes.  Maybe theres a better, simpler way to keep up with this, and if Im overlooking any other factors, just post them and keep track of that as well!

 

 

[HVAU 673]

I think the determination between trickle down, tax and spend, various supply side and demand side theories need to be explored first.

The stimulus spending in the recession is a different model than trickle down, which explicitly cuts government revenue by reducing corporate and wealthy-tax payers tax rates.  The underlying principle being that those entities will re-invest in the economy.  The stimulus spending, unless I'm mistaken, did not occur with a reduction in government revenue, unless Federal Reserve monetary policy and the downward pressure on interest rates is considered, which is probably also worth a look.

There are many smart folks here that will elaborate.

[HVAU 673]

Also, a lot of arguments against this tax cut center around current economic conditions.  Due to the low Fed rates and slow growth many corporations/investors are reportedly sitting on cash reserves.  Now that those rates and slow pace of growth have resulted in a healthy economy with lower unemployment, many economists have intimated that such sweeping tax policy shifts aren't needed and will only further the income equality gap (there are articles available that indicate that is precisely what happened under the Bush tax cuts-http://money.cnn.com/2012/01/03/news/economy/income_inequality/index.htm ).  Investors may have more incentive to invest in foreign/emerging markets than in the US.

[Proud Tiger 4,261]

SaturdayGT....good post and suggestions but I'm afraid trying to track such data may be a waste of time in today's political world. Hell will freeze over before either Dems or GOPers will change their minds about things in the long term. Facts be damned. Just like Obamacare.