My favorite part of this post is how he neglects to point out that under Bush we also have record spending.
IRS: Revenue Collections Hit Record in April
- Thread starter red states rule
- Start date
My favorite part of this post is how he neglects to point out that under Bush we also have record spending.
red states rule
New member
I agree - spending is over the top
If you look at the Dems budget - they increase both spending and taxes
Now is the time for more tax cuts and reduced spending
The Dem budget is irrelevent and you're trying to deflect the main issue which even you...an avid Bush apologist.... has to accept: The BUSH budget is fiscally irresponsible. The record tax receipts are a non issue and completely overshadowed by 1) Inflation 2) Bush's propensity to spend like a drunken sailor.
When the republicans learn the basic concepts like balancing a budget (see: Howard Dean of Vermont) I'll humor you're assinine cuts and pastes.
Topspin
Verified User
Grasshopper T I am the dem educator.
Inflation 2.5%
So far this year, tax revenues total $1.505 trillion, an increase of 11.2 percent over the same period last year. That figure includes $383.6 billion collected in April, the largest monthly tax collection on record.
This is a serious increase, dems should not stop educating on business and finance. The war got us in, most certainly not business accumen.
Class dissmissed
Inflation 2.5%
So far this year, tax revenues total $1.505 trillion, an increase of 11.2 percent over the same period last year. That figure includes $383.6 billion collected in April, the largest monthly tax collection on record.
This is a serious increase, dems should not stop educating on business and finance. The war got us in, most certainly not business accumen.
Class dissmissed
Grasshopper T I am the dem educator.
Inflation 2.5%
So far this year, tax revenues total $1.505 trillion, an increase of 11.2 percent over the same period last year. That figure includes $383.6 billion collected in April, the largest monthly tax collection on record.
This is a serious increase, dems should not stop educating on business and finance. The war got us in, most certainly not business accumen.
Class dissmissed
The problem I have with the premise of his assertions is that the tax cuts are driving the increase in tax collections. I don't believe that to be the case at all.
http://money.cnn.com/2005/11/03/pf/taxes/irs_audits/index.htm
A substantial increase in audits that are directly increasing revenue is what's driving this increase. From the article: "In addition, increased audits led to a 10 percent growth in "enforcement revenues," to $47.3 billion."
This increase has been going on for the last three tax cycles. Those individuals that have been audited are less likely to leave out the monies that were previously deducted or unreported. Saying an increase in tax receipts is due to tax reductions absent of anything else is dishonest at best.
47.3 Billion is less than 4% of the taxes collected, the increase could not substantially be considered to be only audit-collected fees. That was a "growth" to 47.3 Billion as well, this clearly indicates that a large portion of that was collected normally through audits and it increased up to 47.3 Billion. This isn't even close to making up for the amount that revenues have increased.
Yup. And there is the actual reason for record revenue. It isn't a zero-sum game in that direction either.
However, it certainly wasn't the audits that made the difference. The entire collection from audits is about 2.5% of revenue.
