If first quarter tax revenues are any indication, Trumponomics is operating much like Reaganomics and producing the same kind of results: lower taxes and deregulation resulting in more economic growth and, thus, more tax revenues.
In the first quarter after the Republican-passed, Donald Trump-signed reform bill — which will save taxpayers and corporations $1.5 trillion in taxes over ten years — tax revenues actually increased by $18 billion (5.2%) over the previous year, resulting in the government running a $51-billion surplus.
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