Posted on July 8, 2006
Surprising Jump in Tax Revenues Curbs U.S. Deficit
WASHINGTON, July 8 — An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.
This must be because Taranto is on vacation, and therefore unable to taunt them a second time in his own, personal… idiom. But the only way that anyone could really be surprised by the notion that reducing taxation is the surest way to stimulate taxable activity are those who either 1) haven’t listened to a word any conservative economist has ever said, or 2) believes unshamefacedly that anyone who espouses such beliefs is actually shilling for the rich.
The top ten percent of whom, by the way, paid almost 65% of the nation’s individual contribution to the fisc in 2006. The bastards.