It is just spin.

Bush's tax package was passed three years ago and tax revenues have dropped in each of the three subsequent years. Tax revenues are at the lowest levels in 40 years.

The unexpected surge wasn't due to increased payroll taxes from higher wages--which is what the tax cuts were intended to stimulate. The tax increase was due to one-time events such as the expiration of certain investment tax breaks. Also, last year was a good year on Wall Street and low interest rates kept home sales vigorous. Taxes collected on bonus checks and real estate sales increased--this won't be the case in 2005.

Also, the Bush tax package passed last year created a huge tax break for multinational corporations. This will surely have a negative impact on tax revenues and increase the deficit next year.

Originally posted by lmgnyc
It is just spin.

Yep.
The original poster is so easily duped or is working for the state.

If I project the price of a car at $60,000 and then tell you I can save you
$10,000 and the car will cost you only $50,000. Do you actually believe that
the car really cost $60,000 in the first place?

Wake up and smell the rot!

Also with these "federal tax cuts", taxes in every city, of every county, of every state have gone UP.



[edit on 14-7-2005 by Legalizer]

How come those 'projections' are suddenly supposed to be so believable and accurate now?