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US Deficit Up 77%, Tax Cuts Not Working, But is it Donald Trump's Fault!?


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The New York Times
SOURCE: https://www.ccn.com/us-deficit-up-77-tax-cuts-not-working-but-is-it-donald-trumps-fault
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Summary

Interestingly given that it was marketed as a significant benefit for individuals, revenue from tax cuts was only down 3%. One area where people definitely saw a benefit was the bump in earnings and subsequent bounce in the stock market (although a number are now well off their highs.) Revenues increasing from tariffs (some $25 billion) were up, but it’s hard to get excited about these as they are just an additional tax on US taxpayers as the tariffs don’t hit foreign entities but rather US importers which result in a cost of living increase.Where did Trump's tax cuts go? Kevin Swift, President of the NABE and Chief economist, spoke to the Fiscal Times, and outlined his findings that the tax reduction has not done its job,A large majority of respondents—84%—indicate that one year after its passage, the 2017 Tax Cuts and Jobs Act has not caused their firms to change hiring or investment plans,So where did the money go? As a trader, I want to push against consensus opinions on economic outcomes but I’m feeling overwhelmed.Trump had made bold claims about GDP, and the tax cut was a way to make those claims a reality.

As said here by Francois Aur?