What Laffer Curve? Plunging Corporate Tax Receipts Means Rate Cut Was Funded On Uncle Sam’s Credit Card

The US Treasury says that they saw a 31% drop in corporate tax revenue last year. This is almost twice the decline that official budget forecasters had estimated. Receipts were projected to rebound this year, but so far they have only continue to fall. They are down by almost 9% this year, or $11 billion