tax receipts hit record high

[DOGS THAT BARK]

http://news.yahoo.com/s/nm/20070425/us_nm/usa_treasury_taxes_dc_1

WASHINGTON (Reuters) - U.S. tax receipts from individuals hit a record one-day high of $48.7 billion on April 24, a Treasury Department official said on Wednesday.

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The previous record was $36.4 billion, set on April 25, 2006, said Jennifer Zuccarelli, a Treasury spokeswoman.
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Dow busts 13,000 and then some--another historic event

Liberals to their minions--This is worst economy since great depresion

 

[Chadman]

A few more headlines, since we're sharing, and these are from your favorite site...

? Euro Hits All-Time High Against Dollar...

? FORD says April auto industry sales 'terrible'...

? GROWTH WEAKEST IN 4 YEARS

And maybe some have seen the headlines across all forms of media this week about the worst housing sales since the Great Depression, gas prices to hit $4/gallon - which will make prices rise for all products for consumers across the board.

Just keeping it "real" as the cats like to say.

I did notice the profits for Exxon-Mobile were pretty robust again...guess business is good for some, right?

 

[s_dooley24]

? FORD says April auto industry sales 'terrible'...

The US auto industry has been dying for years. It will never happen because of political fallout and protectionism, but the best thing for GM and Ford would be to merge with Toyota and Honda.

 

[smurphy]

Chadman, you forgot about home sales having biggest drop in 18 years.

That said, I have no complaints about the economy. There always stats to show something on either side.

Tax receipts have as much to do with population growth as the economy. More people = more money. But DTB, I'm confused - how can we continue to bring in more tax revenue when the % of people without tax liability keeps going up ....as you constantly like to show? Which angle exactly are working on there?

 

[The Sponge]

Tax receipts have as much to do with population growth as the economy. More people = more money.

This is why his post is so ridiculous. Campaigning in 04 the Bush team pounded down our throats on how home ownership was at an all time high. They forgot to mention that it happens every year and every president could claim this. More people=More buying houses.

 

[AR182]

More people=More buying houses.

i think a fair barometer is the % of the population that are buying houses.

does anybody know that ?

 

[smurphy]

i think a fair barometer is the % of the population that are buying houses.

does anybody know that ?

that may have been at record levels a couple years ago, but i don't know. right after ww2 was still probably higher.

but we are now beginning to get the reprecussions of too many people buying houses they could never actually afford. the lenders are in trouble and foreclosures probably reaching their own record levels.

 

[AR182]

that may have been at record levels a couple years ago, but i don't know. right after ww2 was still probably higher.

but we are now beginning to get the reprecussions of too many people buying houses they could never actually afford. the lenders are in trouble and foreclosures probably reaching their own record levels.

the buying after ww2 is the reason why long island became so popular..at that time it was out in the burbs & prices were cheap....whoever bought then made a killing if the held on to it for about 20 years when there was a mass exodus out of nyc.

i had a friend in the late 1990's (friendship went sour over a re deal) who was a re agent in scottsdale who told me that i would be amazed of the high number of people who over-extended themselves to move into a particular neighborhood. he said you would go into these high priced homes to see these people using a bridge table & chairs as a dining room set & sleeping on cots...it's a,azing how short sighted these people are...

 

[DOGS THAT BARK]

Won't argue the point on population Smurph--and agree it should increase constantly--

However think it is great considering your fellow Dems contention of worst exconmy since depression and how the tax cut would be mortal blow to tax revenue/economy--errors of huge proportion on both counts--then throw in 911 natural disaters ect--I find it quite unbelievable that we are setting new marks daily--however am not over exuberant as school of hard knocks has taught me things can turn on a dime--am adjusting stop losses weekly and unless catastrophe strikes in after hours and market tanks at open bell--they won't be getting back over 10% of accumulated gains--will ride the upside and try and limit the down.

 

[smurphy]

Dogs - I totally agree that making a statement like that "worst economy since depression" was ridiculous. We probably have the greatest gap between rich and poor since the depression, but that's only because there is so much obscene wealth now. It's not like anybody's really being held back from their potential - even at the lowest levels. If it were like the 30's, then people would be stuck at minimum wage levels and thankful for that job, but there's plenty of work now and plenty of opportunity to move ahead.

 

[djv]

Hey taxes went up. So collection did to. Bush did few any favors. You need large income very large to have made out good.
Anyone watching much of banking industry take it in the shorts by playing games with there lending practices. Why so house buying could continue. Now we all will pay for that. Housing down now in all but 8 states. Last number I saw was 19% over all. Over 35% in Michigan. The other shoe soon to follow if we don't keep giving drug and Oil companies more then they deserve.
Time for the fair tax to be voted in.

 

[DOGS THAT BARK]

There is no doubt housing could not keep up pace it was on--
A: They are tighting loan qualifications--which the creative financing was ridulous B: Don't imagine many that could qualify under these "easy" qualification terms didn't jump when they had the chance.

As I said before I believe administrations get too much credit for economical conditions--but if tax cut did by chance help--believe it was corporate tax breaks that helped more than individual.
The trickle down down effect is much more evident--in expansion-more jobs ect--

Will be curious to see if corporate tax revenues also increased--as above #'s were on individual tax receipts and only part of story.