Uh Oh ... Tax Revenues Are Up.

[Turfgrass]

A few weeks ago you were hearing a lot of wailing and gnashing of teeth from Democrats and some Republicans in Washington about the size of the projected budget deficit. Democrats almost exclusively blamed this deficit on the Bush tax cuts and stood in line to say that these tax cuts should be turned around.

Funny ... you haven't heard a lot about this budget deficit lately, have you? Do you know why? It's because the projected budget deficit is actually shrinking, not growing. When the budget deficit grows that's bad news for the President and, therefore, good enough news to put on the TV newscasts and the front pages of the major newspapers. But, when that projected deficit shrinks it's actually good news for the President, and good news is news that's not fit to print or broadcast for many "journalists" out there.

Now ... just why have the projected deficits been shrinking? No, it's not because government is scaling back its spending. It's because the Imperial Federal Government is experiencing a sharp increase in tax revenues. That's right, an increase! It's no small increase in federal tax revenues either. Try this figure ---- $85 Billion. That's with a "B." The current estimate of tax revenues to the federal government is $85,000,000,000 higher right now than it was one month ago. The left and the Democrats have been warning that the Bush tax cuts would lead to lower tax revenues, the fiscal conservatives have been saying just the opposite. Well ... guess who wins this one. Hint: It's not the left.

Once again .. just as with both the Kennedy and Reagan tax cuts, we're seeing an increase in government revenues. Don't you Democrats just hate it?

 

[DOGS THAT BARK]

employment figures improving---market booming--- but I think they are currently fighting too much among themselves to notice
-----I think soon they may be left with only their redistribution of wealth angle and hope they can pass bill allowing illegal immigrants to vote and somehow entice minorities,homeless ect to vote via cash and transportation to polls

 

[BobbyBlueChip]

So Clinton isn't the reason for boom of the 90's, but Bush is the reason for the "boom" that we have now. Haven't heard any figures that tax revenues have increased, but I'll assume you have a source that's legit.

It's pathetic when a "decreasing projected budget deficit" is cause for good news.

 

[DOGS THAT BARK]

Bobby I was not for Bush tax cuts and do not believe any pres or party has more than 20% input on eco conditions. I would attribute the market and economy surge to continuous low inflation and interest rates--Not any political enity---but that is just my opinion.

 

[BobbyBlueChip]

Totally agree re: political impact on economy. The thing about recessions is that you come out of them and it?s frightening to think that most people will vote based on the status of their 401(k). The lack of inflation has a lot to do with us taking it on the chin with trade deficits with the East which will have a more disastrous effect long-term on the economy then double-digit inflation would have. Borrowings at 4% and the only thing being built here is houses instead of plants or office buildings. But that?s a discussion for a day when I don?t have so much work to do.

 

[homedog]

Sounds like they need to cut taxes again.