Tax Cuts.
The Wall St Journal has an interesting article on the surging federal government tax receipts in today's paper. I looked carefully throughout the Bee and found no mention of any comments on the numbers. Were the numbers omitted or just held back for a future article? I realize that the Democrats hate good news on the economy but this news benefits both parties.
The Treasury's tax receipts jumped 13.5% in April from the year's earlier number of 315 Billion dollars. It is now expected the budget deficit will be significantly below the previous projection. Corporate income tax receipts are up $40 billion or almost 30% so far this year, well above the CBO's projected 9% increase. California is expecting a $7.5 billion surplus despite our Democratic reps like Pelosi, Feinstein and Boxer who are still screaming about "tax-cuts for the rich."
Liberal think tanks will of course Poh Poh the findings but they are never happy anyway. They have never heard about the Phillips Curve or read Samuelson's book on the JFK Tax cuts of the 1960's. Regards, Gary Marsella
Gary E. Marsella