So many ill-informed naysayers were very quick to pounce on President Donald Trump when the stock market took a dip recently that it was almost humorous to watch. Until we return the gold standard, such things will always happen. Aside from that truth, however, this was the same whiny chorus of leftists who have been attacking Mr. Trump since he first declared his run. Well, if he is as incompetent as his enemies say that he is, it is not showing in terms of federal taxes!
This past January, the federal government “ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today,” CNS News tells us today. Mr. Trump signed his tax plan in December and already, quicker than hummingbird wings, a month later results are already being seen. Many Dem’s shall rue the day that they ever questioned America’s leader.
CNS also states that “the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.”
Before anyone gets overly exuberant, however, we must remember that Senator Rand Paul did not keep everyone in D.C. up until one in the morning with his recent display for nothing. We are sadly reminded that America is”still running a deficit of approximately $175,718,000,000 for fiscal year 2018.” This is due to the fact that Uncle Sam began “the month with a deficit of approximately $224,955,000,000.”
We are also informed that the Treasury did not only scoop record taxes last month, “but has now collected record tax revenues for the first four months of a fiscal year (October through January).”
Again, while all of this may sound great (and is wonderful compared to what Obama or Bush gave to us), “the federal government is still running a cumulative deficit in this fiscal year of $175,718,000,000.”
The U.S. has lost over 90% of the dollar purchasing power since we departed the gold standard. Also, gold or not, we are spending and spending without producing very much. NAFTA has a lot to do with this problem.
Outsourcing has made America less needed on the world stage and, in time, our fiat money backed by air will be forgotten for other world currencies if we are not careful.
We must remember that Mr. Trump is using this existing flawed system and that he has never promised to reinsert us onto the gold standard ( much to the sorrow of wiser libertarians). As such, he is doing very well and it can be imagined that his policies (which trust the market instead of the government) are going to do quite well. Or, at least as well as we can with money that is not backed by anything but a printing press.
This means that there will be a lot of confused Democrats when it comes to explaining just why everyone is doing so well.