More good news! Income tax revenues are up 9% this year

Are you tired of winning yet?

After all the moaning about how the Trump tax cuts couldn’t possibly pay for themselves via increased revenue, it seems that the moaners may be wrong.

Investor’s Business Daily

Supply-Side Economics: Democrats scoffed at Republicans who said the Trump tax cuts would at least partially pay for themselves through higher economic growth. But it looks like the GOP had it right all along, as revenues climb.

The latest monthly budget report from the nonpartisan Congressional Budget Office finds that revenues from federal income taxes were $76 billion higher in the first half of this year, compared with the first half of 2017. That’s a 9% jump, even though the lower income tax withholding schedules went into effect in February.

The CBO says the gain “largely reflects increases in wages and salaries.”

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