RSSRich Pay More Than “Fair Share” - Deficit Shrinking
J.J. Jackson* | June 17, 2006
In case you were wondering, those making over $200,000 per year pay 46.6% of income taxes in the United States which is an increase under President Bush from about 40%. Tax cuts for the rich bad? Ha! And the deficit is falling too.
Bush May Meet Vow To Halve The Deficit Three Years EarlyBY JED GRAHAM
Posted 6/12/2006
Aided by surging tax receipts, President Bush may make good on his pledge to cut the deficit in half in 2006 ? three years early.
Tax revenues are running $176 billion, or 12.9%, over last year, the Treasury Department said Monday. The Congressional Budget Office said receipts have risen faster over the first eight months of fiscal ‘06 than in any other such period over the past 25 years ? except for last year’s 15.5% jump.
The 2006 deficit through May was $227 billion, down from $273 billion at this time last year. Spending is up $130 billion, or 7.9%.
Gee, that means if it wasn’t for $130 billion in additional spending by D’s and R’s it would be what? About $97 Billion? WOW! Any chance we can get Congress to return all that money spent on vote buying pet project earmarks and welfare programs?
 |
(Book)
Authors:Walter E. Williams
Manufacturer:Hoover Institution Press Released:April, 1999 |
 |
(Book)
Authors:Walter E. Williams, Hoover Institution Press
Manufacturer:Hoover Institution Press Released:July, 1995 |
Contributor's website: http://www.libertyreborn.com
*Content posted by a user may not be completely written by that user. Content from another source is cited in either block quotes, with quotes or with a link to the original material. Content from other sites is posted for commentary and news purposes under fair use. Each user is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or it's owner.
Comments
Leave a Reply
By posting a comment you agree to abide by the rules of this site.
Loading ...
-
Recommended Reading:
-
