Tuesday, July 11, 2006

Which Way Did It Go?

This seems like big news, doesn't it? Like me, you may wonder why it's not the top story in every paper and the lead in every TV newscast. Could it be that not everyone wants to publish a story that seems to validate a Bush administration economic policy? Read:

On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. The rising tide in tax payments has been building for months, but the increased scale is surprising even seasoned budget analysts and making it easier for both the administration and Congress to finesse the big run-up in spending over the past year.

Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.

The main reason is a big spike in corporate tax receipts, which have nearly tripled since 2003, as well as what appears to be a big increase in individual taxes on stock market profits and executive bonuses.

(my emphasis)

Wha? But I thought tax cuts for corporations and the rich would "explode" the deficit to gigantic proportions.


Anonymous said...

The idiot Dems do not understand 101 Economics and what the result is by cutting taxes. Chump ass bitches....

Anonymous said...

"Chump ass sniveling, whining, pussy-ass bitches!"