Tax Revenue Jumps
Tax Revenues Jump - Liberal Heads Explode - Wizbang
Look closely at this one; the numbers do not gel. The article claims the gains that relate to corporate tax payments, imply more of a gain than is born out in the Daily Treasury Statement, DTS.
The National debt hovers at 8.316t. The statutory limit was upped to 8.9t. A year ago the National Debt figure was 7.784t. The increase of 532 billion since last year remains significant, 6.8%.
This fiscal year to date collection of tax equals 1.6t. This time last year the ytd collection reached 1.456t. The year over gain of 148 billion amounts to a 10% increase in receipts. While this is certainly good news and reflects significant increased liquidity, the National Debt as compared to a year ago has not gone down yet.
The article's argument that lower tax burden on small business pays greater tax returns is a good one. Unfortunately, the counter to this good spin comes from ignorant legislators' support of the cartels, monopolies and even multinational at the expense of small business --- where even greater growth, technology, employment and productivity could have emerged. The growth rate in China and India far out strip our own --- not tolerable for the long run. Technology is our long suite, but we are pissing it away.
It is good to see the glass half-full, but we have killed the infrastructure that should be driving information, science, education, energy and innovation. For example: GM killed the EV1, Motion Pictures and the Recording Industry killed fair use, the Telephone Cartel killed bandwidth for the Internet, the Oil Companies killed alternative energy and Congress or the Administration killed scientific research and were responsible for valorizing all of the above special interests.
We have a critical personnel shortage for the needed academics and engineers to carry us forward. The glass is half-empty.
Look closely at this one; the numbers do not gel. The article claims the gains that relate to corporate tax payments, imply more of a gain than is born out in the Daily Treasury Statement, DTS.
The National debt hovers at 8.316t. The statutory limit was upped to 8.9t. A year ago the National Debt figure was 7.784t. The increase of 532 billion since last year remains significant, 6.8%.
This fiscal year to date collection of tax equals 1.6t. This time last year the ytd collection reached 1.456t. The year over gain of 148 billion amounts to a 10% increase in receipts. While this is certainly good news and reflects significant increased liquidity, the National Debt as compared to a year ago has not gone down yet.
The article's argument that lower tax burden on small business pays greater tax returns is a good one. Unfortunately, the counter to this good spin comes from ignorant legislators' support of the cartels, monopolies and even multinational at the expense of small business --- where even greater growth, technology, employment and productivity could have emerged. The growth rate in China and India far out strip our own --- not tolerable for the long run. Technology is our long suite, but we are pissing it away.
It is good to see the glass half-full, but we have killed the infrastructure that should be driving information, science, education, energy and innovation. For example: GM killed the EV1, Motion Pictures and the Recording Industry killed fair use, the Telephone Cartel killed bandwidth for the Internet, the Oil Companies killed alternative energy and Congress or the Administration killed scientific research and were responsible for valorizing all of the above special interests.
We have a critical personnel shortage for the needed academics and engineers to carry us forward. The glass is half-empty.
posted by Clancy Hughes | 7/09/2006 04:38:00 PM
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