A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.
In its monthly accounting of the government's books, the Treasury Department said Wednesday that revenue for the month totaled $315.1 billion as Americans filed their tax returns by the April deadline. The gusher of tax revenue pushed total receipts up by 13.4 percent from April 2005.
It marked the largest one-month receipt total since the government collected $332 billion in revenue in April 2001, reflecting a boom in capital gains from stock investors lucky enough to cash out their investments before the bursting of the stock market bubble in early 2000.
Gee, tax CUTS result in INCREASED tax revenue? Who woulda thunk it? The same thing happened after the Reagan tax cuts. Reagan nearly doubled tax revenue by cutting taxes. But the Democrats in Congress spent $1.70 for every dollar Reagan raised. And they blame Reagan for the huge deficit, despite the fact that the President isn't constitutionally authorized to spend treasury money.
How many times does this have to work before the Democrats catch on? The answer is, the Democrats will never catch on. They're socialists.
2 comments:
The same thing happened in the Sixties when Kennedy cut taxes, didn't it?
It is important to remember the reason that the Left loves Taxes.
They do not Tax in order to bring in revenue, they Tax in order to manipulate Economic Behavior.
JFK was part of the old Democratic party, the DEAD Democratic party.
Taxing for any reason other than revenue is just flat-out immoral. How did these contemptable politicians get they idea that it's their duty to herd us like sheep? Most of them aren't morally fit to shine my boots.
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