5/08/2006

Tax Revenues WAY Up; Corporate Taxes Up Most

Because of my seasonal affliction preparing tax returns, I try to pay attention year round to what's going on. At TaxProf blog today, I came across this little nugget of information:

Tax revenues for the first four months of the year are up more than 10% over 2005. The Treasury Department took in almost $140 billion more than last year! Shame how Bush's tax cuts are starving the government and we can't affort to extend them isn't it? To top that off, corporate tax receipts are up 29%!!!! (Compared to 10% for individuals.) When you hear politicans lying (I mean talking) that we "can't afford" the tax cuts, remember this. The problem is NOT that the government is taking too little; it's that they're SPENDING TOO MUCH.

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