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aceventura3 · 06-13-2006, 01:29 PM

YTD through May '06 tax reciepts to the federal government are up 12.9% over last year. The '05 increase over '04 was 15.5%.

The '06 deficit through May was $227 billion, down from $273 billion during the same period last year, even with spending being up $130 billion or 7.9%.

CBO (Congressional Budget Office) projects a total '06 deficit of $300 billion or about 2.1% of GDP.

At one point the '04 deficit was forcast at $521 billion, the actual came in at $412 billion. It fell to $318 billion in '05.

Those making over $200k/yr now pay 46.6% of total income taxes. That is up from 40.5%.

Corporate tax collections are up 30% from last years pace.

Now we need Washington to get spending under control and find a solution to Social Security and Medicare.

I would love to get the "spin" on these developments from those who thought the tax cuts would hurt the country, hurt the poor, hurt the middle class, and pass on massive national financial burdens on to our children.

06-13-2006, 01:29 PM	#1 (permalink)
aceventura3 Junkie Location: Ventura County	Supply Side Economics Is Working. YTD through May '06 tax reciepts to the federal government are up 12.9% over last year. The '05 increase over '04 was 15.5%. The '06 deficit through May was $227 billion, down from $273 billion during the same period last year, even with spending being up $130 billion or 7.9%. CBO (Congressional Budget Office) projects a total '06 deficit of $300 billion or about 2.1% of GDP. At one point the '04 deficit was forcast at $521 billion, the actual came in at $412 billion. It fell to $318 billion in '05. Those making over $200k/yr now pay 46.6% of total income taxes. That is up from 40.5%. Corporate tax collections are up 30% from last years pace. Now we need Washington to get spending under control and find a solution to Social Security and Medicare. I would love to get the "spin" on these developments from those who thought the tax cuts would hurt the country, hurt the poor, hurt the middle class, and pass on massive national financial burdens on to our children. __________________ "Democracy is two wolves and a sheep voting on lunch." "It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion." "If you live among wolves you have to act like one." "A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."