The Treasury Department reported that federal revenues reached $2.12 trillion ($2,120,000,000,0000) for the first ten months of fiscal year 2007. In both current and inflation-adjusted dollars, that puts the federal government on course for the most revenue it’s ever collected in a year.
Indeed, it’s the most revenue any government in the history of the world has ever collected. And yet it’s not enough to satisfy the voracious appetites of the spenders in Congress and the administration. Spending was $2.27 trillion for the same ten months.
It seems that the deficit problem in Washington is not a result of insufficient tax revenue but rather the inexorable growth of spending on everything from earmarks to entitlements to war.
How can the democrats be clammoring for more taxes? When is enough enough?
http://www.cato-at-liberty.org/2007/08/1...
2007-08-14 05:51:34 · 10 answers · asked by Anonymous in Politics & Government ➔ Politics
Rick46, hate to tell you this but Bush cannot spend money without congressional approval. He has been lax on vetoing spending, but congress is to blame for the actual spending.
2007-08-14 06:17:01 · update #1
Damn those Bush Tax Cuts! They are providing too much tax revenue.
You are completely correct. Tax revenue is not the problem. Outrageous spending on all fronts is.
2007-08-14 05:58:52 · answer #1 · answered by Uncle Pennybags 7 · 2⤊ 0⤋
The Dems don't understand economics and the macroeconomic impacts of tax policy. When tax rates go down, revenue goes up because with more money staying in the private sector, employment levels rise creating more taxpayers.
When tax rates are increased, more money is pumped into the public sector which is inefficient and wasteful. Employment levels decrease, fewer new businesses are created. Fewer taxpayers have to pay more to prop up government revenues. It's very simple really. Too bad more people don't understand this. It's amazing how the Dems like to keep the misinformation flowing.
2007-08-14 13:01:06 · answer #2 · answered by S C 4 · 2⤊ 0⤋
Liberals either never took Economics 101 or they were too stoned to pass it. Bush's tax cuts are responsible for increased economic activity which result in more tax revenues. The Democrats only think about taxes from a standpoint of punishing achievers, as part of their buying votes through class warfare, which creates economic dis-incentives which produce overall lower tax revenues.
Too bad a liberal won't ever pick up and read the book,
"Basic Economics" by Thomas Sowell. Why? Truth hurts.
2007-08-14 13:01:36 · answer #3 · answered by Anonymous · 2⤊ 0⤋
I've been saying this for years. The same could be said of the 80's when revenues exploded but still couldn't keep up with the ever increasing spending of Congress.
2007-08-14 12:56:15 · answer #4 · answered by Brian 7 · 3⤊ 0⤋
Raising revenue through taxation is like a contagious disease! The Bush administration is no exception, and the democrats if elected will not be so!
2007-08-14 12:57:03 · answer #5 · answered by Sami V 7 · 1⤊ 2⤋
Clinton
2007-08-14 12:55:08 · answer #6 · answered by Anonymous · 1⤊ 1⤋
The only answer to that question that you will ever hear from a democratically controlled congress is ........ MORE!
2007-08-14 12:57:54 · answer #7 · answered by Anonymous · 3⤊ 0⤋
Conservatives are saying ENOUGH now! And we are being attacked for it by those who want not just our money but our life's blood as well....
2007-08-14 13:01:18 · answer #8 · answered by Erinyes 6 · 1⤊ 0⤋
Bush and the republicans want to lower taxes, the liberal dems want to raise taxes. If you think our taxes are bad, go to Sweden......
2007-08-14 12:58:34 · answer #9 · answered by SWT 6 · 1⤊ 2⤋
I don't know about taxer, but he has been the biggest spender in history.
2007-08-14 13:09:13 · answer #10 · answered by Anonymous · 1⤊ 1⤋