US Budget Deficit is Shrinking

Discussion in 'Economy' started by red states rule, Jul 11, 2006.

  1. red states rule
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    red states rule Senior Member

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    Oh my the libs will hate this! With tax cuts, the US governemnt is taking in MORE money.

    So much money the budget deficit is shrinking.

    When will libs learn when you cut taxes on the producers - EVERYONE benefits.

    The US economy is booming and the left hates this good news.

    I do like how the liberal media says "unexpected" increase in tax revenue. Unexpected to whom? The libs?

    http://www.marketwatch.com/news/story/story.aspx?guid={D431CEFF-CBE7-45D1-B7BC-0EBAEDEC17B7}

    Unexpected tax revenue to shrink U.S. budget deficit

    By MarketWatch
    Last Update: 3:35 PM ET Jul 8, 2006


    NEW YORK (MarketWatch) -- An unexpected spike in revenue from corporate taxes, individual stock market profits and executive bonuses is curbing the projected budget deficit this year, according to a media report.
    The White House on Tuesday is expected to say that tax receipts are about $250 billion higher than they were a year ago, rising twice as fast as the administration forecast, the New York Times reported Saturday.
    As a result, the budget deficit will be about $100 billion less than the White House predicted six months ago, the paper said.
    The tax receipt windfall has been building for months, but its size and effect on the deficit surprised budget analysts, given the high costs for the war in Iraq and hurricane relief.
    Congressional analysts told the Times that the greater-than-expected tax receipts could cut the deficit to $300 billion this year from $318 billion a year ago.
    Corporate taxes that have nearly tripled since 2003, executive bonuses, and higher individual taxes on stock market profits are fueling the spike in tax revenue, the paper reported.
    The Congressional Budget Office said Friday that corporate tax receipts rose 26% for the nine months ending in June compared with the year-ago period.
     
  2. jillian
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    jillian Princess Supporting Member

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    http://www.brillig.com/debt_clock/

     
  3. red states rule
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    red states rule Senior Member

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    Even with higher spending, a war, and security issues - the deficit is shrinking as the US economy grows.

    Libs must be reaching for their meds as the good economic news keeps coming in
     
  4. theHawk
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    theHawk Registered Conservative

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    Deep down Libs know that tax cuts benefit the economy. They simply want to see income redistribution from anyone richer than them to themselves. They have absolutely no belief in the idea of people working hard to make their own money. In short, they are socialist assholes.
     
  5. Nuc
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    Nuc Senior Member

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    The American business climate is so amoral and unethical that the average person doesn't stand a chance of job security and every family must have two breadwinners just to make ends meet. Is this "conservative"? These tax cuts are a shell game to distract voters and citizens from the massive corporate welfare system in this country. I really don't care about getting a $300 tax cut when 30% of my income is going towards subsidising the oil companies and arms manufacturers.

    :gross2:
     
  6. theHawk
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    theHawk Registered Conservative

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    And I don't like 30% of my income going towards "Fighting AIDS in Africa". Hence why we need more tax cuts!
     
  7. Nuc
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    Nuc Senior Member

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    Good idea. Let's just have taxes to support objective needs such as roads. Cut all subsidies to all businesses. Privatize the military. Let people who like wars support it as if it's a religion. They can donate to various private mercenary groups (rather than having our taxes go to "contractor" mercenaries). Eliminate public schooling. Stop sending people to prison for social non-crimes such as pot and prostitution. If we cut out the bullshit we could probably get down to about a 5 or 10% tax rate.

    The other alternative would be to continue having high taxes but then provide people with Scandinavian style social support. That won't work here because Americans are nowhere near as civilized as Scandinavians. It's difficult to do it with a diverse population.

    Everything in between these two extremes is bogus as we can see with our high taxes, corrupt and stupid government, and poor services.
     
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  8. theHawk
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    theHawk Registered Conservative

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    I don't think Military should be privatized. Taxes should go to our physical protection first and foremost. That means a military to protect us from foreign threats and a justice system to protect us from the criminal element in our own society. All welfare for "poor people" as well as for subsidies to businesses should be cut.
     
  9. Hobbit
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    Hobbit Senior Member

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    That 'every family must have 2 breadwinners' thing isn't what people think. They harken back to the days when the dad worked and the mom stayed at home. That's less common, so people assume it's because everyone's underpaid, but that's simply not true. The average person now has a 3 bedroom dwelling, multiple televisions, probably a game console, a computer, internet access, cable, 2 cars, etc. etc. This is compared to what people used to have: a 2 bedroom dwelling, maybe one television with rabbit ears, and only 1 car.

    Now, I don't like subsidies, either. I think businesses should be allowed to succeed or fail based on their own merits, but I don't villify corporations...because they're not villians.

    As far as taxes, though, I say we return to constitution, which, until an ammendment was passed through vicious class warfare, declared income tax illegal. Somehow, we fought WWI with NO income tax, and I think we should return to that. It's an oppressive system that costs us hundreds of billions every year. And corporate income taxes are worse, as it just ends up being a tax on their customers.
     
  10. Nuc
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    Nuc Senior Member

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    Our military doesn't protect us from outside threats very often, nowadays they are prancing around butting their noses into other people's business. Where were the military planes on Sept. 11th? The military is mainly a vehicle for arms profiteering.

    Americans love war. They will pay for it as a form of entertainment just like they pay for other crappy forms of entertainment like rap, Hollywood, wrestling, NASCAR, etc. The main difference is if they pay for it as entertainment they will want a happy ending (i.e. victory) rather than the quicksand we are in now. That would be a good thing, no?
     

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