MasterChief
07-23-2006, 10:58 PM
:) Continuing to ignore history, liberals have once again been proven wrong with their assertions that across-the-board tax cuts expand the deficit and mostly benefit the “rich.”
Since President Bush’s 2003 tax cuts, the U.S. economy has expanded 20 percent or $2.2 trillion, creating more than 5 million jobs. Hourly compensation has increased 3.9 percent in the last year.
In the first nine months of fiscal 2006, economic growth has increased tax revenues $206 billion, or 13 percent. That is the second-highest growth rate for tax revenue for that nine-month period in the last 25 years, exceeded only in 2005 when revenues grew 15 percent for the entire year.
Individual tax payments are up 14.1 percent this year, and nonwithheld payments (capital gains, etc.) are up 20 percent. Corporate tax receipts have nearly tripled since 2003.
Since the top 50 percent of earners pay around 96 percent of the federal income taxes, the rich are obviously paying much more in taxes. So if the Democrats in the Senate really want to reach their goal of further soaking the rich, they should actually support making President Bush’s tax cuts permanent and support further tax cuts.
Since President Bush’s 2003 tax cuts, the U.S. economy has expanded 20 percent or $2.2 trillion, creating more than 5 million jobs. Hourly compensation has increased 3.9 percent in the last year.
In the first nine months of fiscal 2006, economic growth has increased tax revenues $206 billion, or 13 percent. That is the second-highest growth rate for tax revenue for that nine-month period in the last 25 years, exceeded only in 2005 when revenues grew 15 percent for the entire year.
Individual tax payments are up 14.1 percent this year, and nonwithheld payments (capital gains, etc.) are up 20 percent. Corporate tax receipts have nearly tripled since 2003.
Since the top 50 percent of earners pay around 96 percent of the federal income taxes, the rich are obviously paying much more in taxes. So if the Democrats in the Senate really want to reach their goal of further soaking the rich, they should actually support making President Bush’s tax cuts permanent and support further tax cuts.