Tax breaks--

[DOGS THAT BARK]

You would think that with all these "reported" tax breaks for wealthy by Dems that our tax revenue would go down???

Wonder what opinion they will use to trump these facts?
++++++++++++++++++++++++++++++++

US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion
Tuesday September 19th, 2006 / 0h04


WASHINGTON -(Dow Jones)- The U.S. government recorded record-high overall and corporate tax receipts on Sept. 15, which was a quarterly deadline for tax payments, the Treasury said Monday.
Total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year, the Treasury said.
Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year.
Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy."
"In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year," Quarles said in a statement.
-By Benton Ives-Halperin, Dow Jones Newswires; 202-862-9255; Benton.Ives-Halperin@dowjones.com

 

[djv]

Are they trying to say our Companies like Exonn are making record profit's off us. So they have to pay more taxes. Witch would mean were paying more also for there products?

 

[StevieD]

Don't forget those defense contractors are doing pretty good too!

 

[redsfann]

I know I had a hand in this, as my 3rd quarter estimated tax payment was the largest I have ever made in the 7.5 years I've been self-employed.
Bad news is that I'm self-employed in the bad credit/collections field and I turn down more work now than I ever have since I've been in this business.

 

[The Sponge]

Don't forget those defense contractors are doing pretty good too!

Stevie becareful saying something like this. These guys get a free pass around here. You might be called un american or something like that. A ceo from one of those security companies over in Iraq made 20 million last year.

 

[BobbyBlueChip]

Don't forget those defense contractors are doing pretty good too!

It's actually the subsidized defense contractors paying all the tax payments.

Do you think that you'd run a deficit with increased spending and not have an increase in tax revenue?

 

[DOGS THAT BARK]

Would makes sense Bobby if not for fact biggest defence expense came during start of war and year that followed--under your assumption tax revenue would have been higher then?

--in addition I thought it was just a few weeks ago the left was whining about all tax breaks oil co and defence contrators were getting?

You all need to decide which is correct the flip or the flop?

Bottom line that can't be disputed we have more tax revenues be more of more profits and income and that is AFTER a tax cut--of course haven't heard much barking on that issue of late and neither employment and other economic figures

 

[BobbyBlueChip]

Would makes sense Bobby if not for fact biggest defence expense came during start of war and year that followed--under your assumption tax revenue would have been higher then?

Federal outlays keep increasing per the US Treasury. It doesn't exactly make sense, but freedom's on the march and only two countries are converted so far

http://www.ustreas.gov/topics/accounting-and-budget/

--in addition I thought it was just a few weeks ago the left was whining about all tax breaks oil co and defence contrators were getting?

You all need to decide which is correct the flip or the flop?

They do - nothing's changed

Bottom line that can't be disputed we have more tax revenues be more of more profits and income and that is AFTER a tax cut--of course haven't heard much barking on that issue of late and neither employment and other economic figures

No - Can't dispute the fact that we have more revenue coming in. But the only reason that we have more revenue coming in is because we're spending more - it has nothing to do with the tax cut. We give a dollar to our friends - $.40 comes back in the form of tax and the Bushies talk about "record tax reciepts"

Stay the course, dogs!

 

[DOGS THAT BARK]

You know my stance has always been tax cut has little to do with economy--however it sure does reflect bad on those that claimed it was bad thing for economy.

all in all-- considering they took office in recession and colossall adverse events that have taken place during his terms--I think current economic conditions are remarkable to say the least.

If gas prices continue down and hold till Nov--I believe Dems exuberant optomism will be in for rude awaking if elections #1&2 motives in voting remain war on terror and economy.Just my opinion.

GOP has had some very fortunate bounces of events that appear to be luck--but who knows.

another issue that will help--

House bill to require voter ID
By Charles Hurt
THE WASHINGTON TIMES
September 21, 2006


The House yesterday passed legislation that would require voters to show a valid photo identification in federal elections over the overwhelming objections of Democrats who compared the bill to segregation-era measures aimed at disenfranchising Southern blacks.
The Federal Election Integrity Act was approved on a nearly party-line 228-196 vote. Republicans backed the bill 224-3, with three nonvoters; Democrats opposed it 192-4, with five nonvoters. They were joined in opposition by the House's one independent member.

 

[StevieD]

Dogs,

Have you checked the deficit lately?

 

[Jabberwocky]

http://www.brillig.com/debt_clock/

yeah, the economy is kicking ass...all it takes is $8 trillion dollars in bad checks.

 

[DOGS THAT BARK]

Oh- I see-- no answer to economy so we shift to deficeit.

I'll climb on with you on deficeit to extent I believe the Medicare boost was a flagrant-unnecessary-escalating expense.

 

[Chadman]

Isn't the deficit the bottom line in measuring where our economy stands? Aren't we operating fiscally in tremendous deficits right now, inclusive of what our economy is doing? I know what you are saying Wayne, but the economic situation now can be spun in many ways. Bottom line...the current administration continues to operate in unheard of deficits, with no end in sight, until they decide to make some changes in how this country is operating.

It does not matter how good the economy is, if you are spending more than you are taking in, for whatever the reasons may be. If you want to take credit for the positive economic numbers, as you put it, then pull out of Iraq so it actually means something. Until then, it means very little, even if it is positive in some parts of the economy.

If I win a few bets, get a raise, and cut some expenses - but decide to buy a new car that costs more than my newfound incomes/net, then I am still falling behind. I have to live with my choice to buy that car which puts me further in the hole. No matter how much I crow about winning the bets, my raise, and cutting my kids allowance (family entitlement program), I am running a deficit, and I will have to make that up somehow.

 

[Nick Douglas]

DTB, you are almost always gonna win on raw economic figures with conservatives in office. And you are right to criticize those who claimed that tax cuts wouldn't help the economy.

I have two socialist/liberal counterpoints:

--> Inflation appears to be skyrocketing. I have no hard economic data but when I look at the prices of homes, cars, etc. I see it.

--> Raw economic data does not address problems in the middle and lower classes. TerryRay posted some links a while back that showed that the income/tax burden of the top 5% has skyrocketed in comparison to the bottom 50%. I would argue that your raw economic figures are driven by the top earners and that the overall picture for the middle and lower classes has not improved.

All of that having been said, I'll agree with your general point that Bush has made good moves to get the economy pumping. I just think that most of that improvement comes from hard working people who are usually going to make money whether the economy booms or not.

As far the elections go, it is time for certain Democrats to get a strategy other than bashing Bush and Iraq. I'd like to see more candidates like Jim Webb in Virginia who actually offer ideas when they counter their Republican opponents.

 

[smurphy]

You know my stance has always been tax cut has little to do with economy--however it sure does reflect bad on those that claimed it was bad thing for economy.
.

Nobody ever said it was "bad for the economy". The main criticism is that it's bad for the budget and potentially very very bad for the long-term debt and deficit.

It was a great move by Bush because he looks good in the short run. By the time the chickens of those cuts come home to roost, he'll be long gone from the White House.

Basically, he took for today and the expensive of tomorrow. And that has become the American way.

 

[DOGS THAT BARK]

Isn't the deficit the bottom line in measuring where our economy stands?

I don't think so especially in the present--however if something not done will inevitable get you in the future.

I would much rather have economy with low unemployment-inflation-interst rates ect with deficeit than no deficeit-high unemployment-interest rates inflation and in recession /depression.

I will agree if deficeit is not held in check all the bad things above will be inevitable at some point in time--but most are debt as a nation has been in times of war and considering our GDP it not as gloomy as projected.Here is one article on subject.
Thought the graphs in it (if correct) tell the tale.
++++++++++++++++

The total public debt is largely a legacy of war, economic recession, and inflation. It represents the accumulated deficits in the Government's budgets over the years. The United States first got into debt in 1790 when it assumed the Revolutionary war debts of the Continental Congress. At the end of 1790, the gross public debt was approximately $75 million. For a brief period in the mid-1830's the public debt was virtually zero. At the start of World War I in 1916, the public debt was $1 billion. It then rose to a peak of $26 billion in 1919 to finance the war. The debt declined for the next decade. During the Great Depression of the 1930's, however, the debt increased from $16 billion to $42 billion. During the Second World War the public debt rose sharply to a peak of $279 billion in 1946. From its postwar low in 1949, the outstanding public debt grew gradually for nearly the next two decades. Then, beginning at the time of the Vietnam War in the mid-1960's, the rate of the debt's increase accelerated sharply.


http://www.marktaw.com/culture_and_media/TheNationalDebt.html

+++++++++++++++++++++++++++++++

 

[djv]

I'm still waiting for tax break. Government keeps more of my cash then ever before. In fact I wonder how many even understand whats happening to them.

 

[The Sponge]

Im not a guy that likes to bring up the past but since i have to read it every freakin day how about this stat. Under Clinton the market was up 226 percent when he left. Under this loser its up 9 percent. i mean cmon guys. this guy gets a million jobs the replub throw a party. Clinto had over 20 million jobs under a budget that not one republican voted for. not one. facts are facts guys. take the blinders off.

 

[StevieD]

About those tax breaks,

AP - Stocks fell for a second straight session Friday amid continued pessimism about the health of the economy. Wall Street was caught off guard Thursday by a report from the Federal Reserve Bank of Philadelphia that showed regional manufacturing activity fell to a negative reading for the first time since April 2003.

 

[s_dooley24]

About those tax breaks,

AP - Stocks fell for a second straight session Friday amid continued pessimism about the health of the economy. Wall Street was caught off guard Thursday by a report from the Federal Reserve Bank of Philadelphia that showed regional manufacturing activity fell to a negative reading for the first time since April 2003.

Another opinion...

What We Think the Dow Is Worth Today

http://news.morningstar.com/article/article.asp?id=174110&pgid=wwhome1a