Opinion: The media blame deficits on tax reform, but the facts show the main culprit is spending
You wouldn’t know it from the press coverage, but there’s some modest good news about the federal budget. The deficit is rising, but not as much as feared because tax revenues are increasing due to faster economic growth.
The Congressional Budget Office reports in its April budget review that revenues rose 2% to $2.041 trillion in the first seven months of fiscal 2019 from a year ago. Payroll tax revenue rose 4.7% due in part to rising employment and wages.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pot bust: California dramatically cuts marijuana tax revenue projectionsThe Newsom administration is sharply scaling back what California expects to collect in cannabis tax revenue through June 2020.
Read more »
Tax revenue from legal pot sales falls short of projections in CaliforniaProponents of legal weed have promised windfall tax revenue, but in California, the green hasn't delivered as much green as hoped.
Read more »
Jumia's stock drops after losses widen, revenue rises less than expectedShares of Jumia Technologies AG dropped 7.3% in premarket trade Monday, after the Africa-based e-commerce company reported its first results as a public...
Read more »
New York Times' stock rallies after profit, revenue rise above expectationsShares of New York Times Co. rose 1.2% in premarket trade Wednesday, after the media company reported first-quarter earnings and revenue that rose above...
Read more »
TurboTax and H&R Block are sued for allegedly keeping Americans from filing taxes for freeL.A. City Atty. Mike Feuer is going after Intuit and Block, accusing them of concealing free tax services from their customers. More from columnist hiltzikm here:
Read more »
Treasury secretary ignores law, keeps Trump's tax returns hiddenThe debate over Trump's tax returns has been fought out in the realm of norms and expectations. As the administration ignores federal law, it's different now.
Read more »
Tampon Tax: California’s budget tweak is not enough—the practice should be banned nationwide | OpinionThe tax on menstrual hygiene products is state-sanctioned discrimination that needs to be eradicated. Full stop. Period.
Read more »
Opinion | Stunning new revelations underscore urgency of getting Trump’s tax returnsIs he fighting like mad to keep them secret only for the most petty and vain reasons? Or is it even worse than that?
Read more »
Opinion | Some math problems for Donald Trump’s tax returnsTwo trains are on their way to Atlantic City. One of them keeps going without stopping at a Trump property. Are you bankrupt?
Read more »
Opinion | Here's why Facebook's tax breaks are thoroughly undeservedGiving companies tax breaks never brings an economic renaissance. Unemployment doesn’t decrease, incomes don’t go up and growth doesn’t improve.
Read more »