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host · 10-15-2007, 07:03 AM

ace....you and I had this same discussion exactly a year ago, and I obviously did not get through to you:
http://www.tfproject.org/tfp/showthr...&highlight=mew

...you're posting the same opinion now...it flies in the face of the facts....Bush's tax policies transferred the revenue that formerly mitigated a higher deficit, back into the pockets of those who formerly paid the the highest progressive tax rate...the wealthiest ten percent who already owned 70 percent of all assets in the US....and another year of data is in....it supports my argument:

2000 ....US is deficit free....candidate Bush is campaigning to return "the budget surplus" to the taxpayers:

<a href="http://72.14.209.104/search?q=cache:LK4mcAFfc4cJ:www.cbo.gov/budget/historical.pdf+2005+revenue+tax+revenue&hl=en&gl=us&ct=clnk&cd=7#2">CBO Data html</a>

From: Page 3..."Revenues by Major Source, 1962 to 2006"

Individual Income Tax revenue - 2000 ----- 2003 ----- 2006

........(in billions of $'s) ......... 1,004.5 .. 793.7 .. 1,043.9

Corporate Income Tax Revenue

........(in billions of $'s) ............ 207.3 ... 131.8 ... 353.9

Social Insurance Tax Revenue

........(in billions of $'s) ............ 652.9 ... 713.0 ... 837.8

From: Page 4... "Revenues by Major Source, 1962 to 2006"

(Percentage of gross domestic product)
Individual Income taxes... 2000= 10.3 percent 2003= 7.3 percent 2006= 8.0 percent

From: Page 11.. "Surpluses, Deficits, Debt, and Related Series, 1962 to 2006"

Budget Deficit or Surplus:

........(in billions of $'s) - 2000 ----- 2003 ----- 2006

.................................. +236.0 ... -378.0 ... -248.0

ace, in 2000, Social Security (SSI) taxes collected were $652.9 billion, and the $236 billion "surplus in 2000, was that money...the surplus in SSI taxes vs. payments to recipients.
In 2006, SSI taxes collected were $837.8 billion.... Bush's budget ran a deficit of $248 billion, plus....all of the SSI surplus of 2006. The amount of that 2006 SSI surplus was part of the $500 billion US Treasury Debt increase of 2006...it is carried on the books as "debt held by the public".

<h3>Personal Income tax revenue, when adjusted for inflation, has actually decreased since 2000...and the 2006 deficit was advertised to be $248 billion....only because the entire 2006 SSI surplus was borrowed and spent, but.... not counted as part of the 2006 deficit, and because of a temporary, windfall increase in corporate income tax revenue, which is probably over, after 2007.</h3>

Bush and the republican congress...for six years, transferred the tax burden from the top ten percent, to a massively increased debt burden to the other 90 percent, who own just 30 percent of the country's total wealth. Real populists...these "folks" you advocate for....ace!

10-15-2007, 07:03 AM	#8 (permalink)
host Banned	ace....you and I had this same discussion exactly a year ago, and I obviously did not get through to you: http://www.tfproject.org/tfp/showthr...&highlight=mew ...you're posting the same opinion now...it flies in the face of the facts....Bush's tax policies transferred the revenue that formerly mitigated a higher deficit, back into the pockets of those who formerly paid the the highest progressive tax rate...the wealthiest ten percent who already owned 70 percent of all assets in the US....and another year of data is in....it supports my argument: 2000 ....US is deficit free....candidate Bush is campaigning to return "the budget surplus" to the taxpayers: <a href="http://72.14.209.104/search?q=cache:LK4mcAFfc4cJ:www.cbo.gov/budget/historical.pdf+2005+revenue+tax+revenue&hl=en&gl=us&ct=clnk&cd=7#2">CBO Data html</a> From: Page 3..."Revenues by Major Source, 1962 to 2006" Individual Income Tax revenue - 2000 ----- 2003 ----- 2006 ........(in billions of $'s) ......... 1,004.5 .. 793.7 .. 1,043.9 Corporate Income Tax Revenue ........(in billions of $'s) ............ 207.3 ... 131.8 ... 353.9 Social Insurance Tax Revenue ........(in billions of $'s) ............ 652.9 ... 713.0 ... 837.8 From: Page 4... "Revenues by Major Source, 1962 to 2006" (Percentage of gross domestic product) Individual Income taxes... 2000= 10.3 percent 2003= 7.3 percent 2006= 8.0 percent From: Page 11.. "Surpluses, Deficits, Debt, and Related Series, 1962 to 2006" Budget Deficit or Surplus: ........(in billions of $'s) - 2000 ----- 2003 ----- 2006 .................................. +236.0 ... -378.0 ... -248.0 ace, in 2000, Social Security (SSI) taxes collected were $652.9 billion, and the $236 billion "surplus in 2000, was that money...the surplus in SSI taxes vs. payments to recipients. In 2006, SSI taxes collected were $837.8 billion.... Bush's budget ran a deficit of $248 billion, plus....all of the SSI surplus of 2006. The amount of that 2006 SSI surplus was part of the $500 billion US Treasury Debt increase of 2006...it is carried on the books as "debt held by the public". <h3>Personal Income tax revenue, when adjusted for inflation, has actually decreased since 2000...and the 2006 deficit was advertised to be $248 billion....only because the entire 2006 SSI surplus was borrowed and spent, but.... not counted as part of the 2006 deficit, and because of a temporary, windfall increase in corporate income tax revenue, which is probably over, after 2007.</h3> Bush and the republican congress...for six years, transferred the tax burden from the top ten percent, to a massively increased debt burden to the other 90 percent, who own just 30 percent of the country's total wealth. Real populists...these "folks" you advocate for....ace!