Tuesday, September 19, 2006

The tax cuts didn't work!

Somebody tell President Bush!

From this news story:

The U.S. government recorded record-high overall and corporate tax receipts on Sept. 15, which was a quarterly deadline for tax payments, the Treasury said Monday.
Total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year, the Treasury said.
Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year.
Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy."
"In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year," Quarles said in a statement.

 

Wait, that can't be right, can it?  Tax receipts increased 20%?  The tax cuts were supposed to be "for the rich" according to the Democrats.  And corporate (which is rich people, right?) tax receipts went up?

So, this means two things, each with the same result:

1.  The Democrats were wrong.  The tax cuts were not for the rich.  They are paying more taxes!  They need to march over to the White House and inform the president that he failed at cutting taxes for the rich.  So he must need to cut more!

2.  President Bush was right when he said that cutting taxes would end up netting the government more tax revenue.  So he must need to cut more!

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