Here are actual facts about federal revenues, not wild guesses or projections. 

Federal tax revenues from individual income taxes, FY 2017: $1.6 trillion

Total Revenue: $3.3 trillion

Federal individual tax revenues, FY 2023: $2.18 trillion, up almost $600 billion per year in six years, or over 35%.

Total federal revenue: $4.44 trillion, up $1.1 trillion per year over 2017, or up 33%.

The tax rate cuts did not cost the government over $1.5 trillion, as the CBO projected when the rate cuts passed.  They generated substantial additional revenue for the government because of the dynamic nature of tax cuts, which allows people and businesses to save more, invest more, and spend more than they otherwise would be able to do if the government confiscated a greater share.  That clearly slows the economy. 

So how would leaving tax rates exactly the same cost the government one penny, let alone $4.6 trillion?  Why would anyone believe CBO numbers when previous projections were so far off?  That is like believing anything Tony Fauci says, or the media when they were so willing to lie about Russian collusion and the Hunter Biden laptop.

A political showdown is expected next year when former President Donald Trump's signature 2017 tax law lapses, and the 2024 presidential election will play a decisive role in how that agenda plays out, The Wall Street Journal reported.

The Tax Cuts and Jobs Act brought a major overhaul to U.S. tax code: The corporate tax rate was slashed to 21% from 35%, individual income tax rates were cut, and the standard deduction was increased.

Many of the household tax reforms included in the bill expire in 2025. If all the tax cuts expire, the vast majority of U.S. households would see their payments to the IRS increase. But if all the tax cuts are extended, as additional $4.6 trillion, including the cost of debt service, would be added to the national debt over the next decade, according to the Congressional Budget Office.

The moral of the story is this: never trust projections from supposed experts.  Always do your own research, and use your common sense. 

And do not trust the media, who are mostly people posing as journalists who generally just repeat what they are told without doing research or asking questions.  They could easily be replaced by a fax machine.  It would be much cheaper and just as valuable. 

Also, people should recognize that there is never enough power or money for Democrats.  Their goal seems to be to make as many people dependent on the government as they can instead of allowing capitalism to help people move up the economic ladder and achieve wealth. 

Ronald Reagan had a tremendous understanding of what Democrats want:

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

Image via Pixnio.