Comments on: Fed tax revenue at all time high

By: SayUncle

SayUncle — Tue, 19 Jun 2007 20:25:37 +0000

Once you correct for inflation

chart says it’s adjusted for that.

By: tgirsch

tgirsch — Tue, 19 Jun 2007 20:22:35 +0000

Madrocketscientist beat me to it. The “record revenues” are highly misleading, because they’re in current dollars, rather than constant dollars. Once you correct for inflation or normalize against GDP, the picture isn’t nearly so rosy.

By: Manish

Manish — Mon, 18 Jun 2007 17:26:33 +0000

If libertarian/conservatives believe in small government and choking the government of revenue, it would follow that they should support ever higher taxes as that would reduce the revenue going to government by this logic.

By: Madrocketscientist

Madrocketscientist — Mon, 18 Jun 2007 16:57:05 +0000

A good read about the rising revenues

http://www.factcheck.org/taxes/supply-side_spin.html

By: Bruce

Bruce — Mon, 18 Jun 2007 15:56:57 +0000

FACT: Democrats hate real economic growth with the passion of a thousand suns.

Just think if the GOP-congress had actually acted like conservatives and cut spending. We’d have money coming out of our buttholes.

By: Sebastian-PGP

Sebastian-PGP — Mon, 18 Jun 2007 13:10:02 +0000

Heh .

The only real tax cut is a spending cut. And we haven’t had many of those lately…like since about 1890.

By: SayUncle

SayUncle — Mon, 18 Jun 2007 12:53:07 +0000

But there’s correlation! and we know that proves everything!!!!

By: Sebastian-PGP

Sebastian-PGP — Mon, 18 Jun 2007 12:50:31 +0000

Interesting; but even Ben Bernanke and Alan Greenspan will tell you that they don’t believe the “tax cuts pay for themselves” mantra (very few mainstream economists do).

There are lots of factors that influence tax revenue, not the least of which was a gigunda housing boom in the last decade that put a lot of money in a LOT of people’s pockets.