I guess tax cuts do work!

www.easybourse.com...

WASHINGTON -(Dow Jones)- 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.

This is awesome! Shrinking the deficit while cutting taxes!

Bush and the Republicans need to start screaming this all over the place! Can't expect the media to do it!

alot of that new record comes from the oil companies and their sky high profits and the unfortunate side effect of those tax cuts. the alternative minimum tax.

so, yeah, he cut taxes but he didn't on the personal level and thanks to his war in the middle east and some unfortunate weather and other circumstances, the price of oil is picking up the slack in the rest of the corporate tax paying economy. Wait until the fourth quarter when retail sales suck and oil is down and the fourth quarter figures are much lower. then you can blow your horn.

Originally posted by Crakeur
alot of that new record comes from the oil companies and their sky high profits and the unfortunate side effect of those tax cuts. the alternative minimum tax.

so, yeah, he cut taxes but he didn't on the personal level and thanks to his war in the middle east and some unfortunate weather and other circumstances, the price of oil is picking up the slack in the rest of the corporate tax paying economy. Wait until the fourth quarter when retail sales suck and oil is down and the fourth quarter figures are much lower. then you can blow your horn.

This is the most arrogant response ever, so the oil companies whose profits comprise maybe a percent (1%) of the total profits of the businesses in the United States somehow have increased the over-all tax intake by government by millions of dollars?

The price of oil had NOTHING to do with this tax season's increase...unless you can come-up with a real argument.

Well, the economy is certainly doing as well as it ever has. The thing that has hurt the Bush presidency, unlike his father, is not the economy. What has hurt the present Bush is his rigid fixation on Iraq... Right or wrong, that is what it boils down to.

Originally posted by FreiMaurer
The price of oil had NOTHING to do with this tax season's increase...unless you can come-up with a real argument.

when a company earns money, they pay taxes on the profits. If the companies earn more, the taxes, in theory, should be higher. The gov't toyed with the idea of a windfall tax like they had in the 80's but it never amounted to much but still, record profits will raise the amount of tax dollars brought into the coffers.

I love how time and again tax cuts have always boosted the economy and the only credit anyone who cuts them gets is: "theyre only helping rich people" and "as soon as we have power we'll kill these cuts and tax the rich!"

Does that work on anyone? Besides high school dropouts and welfare queens I mean.

Hell, Im riding the poverty line but because my employer has less of a burden we hired 2 more people and we all got raises! It boggles the mind.

Tax cuts are GOOD FOR EVERYBODY!

Yea things are great. Personal savings have grown -1% and are now at the lowest they've been since the Great Depression. In that same period, personal unsecured debt has tripled. Yup, things are as rosey as they could possible be.

The economy is crap and the deficit is only getting larger so i don't understand where this guy is coming from.

Our debt is only half of our GDP so its no big deal for a family making 100K to owe about 50K. We can afford it. Its not good but its not the end of the world.
www.optimist123.com...

I totally agree that our savings hitting a record low not seen since the depression is sad and abhorable but thats not the nations fault. Its that fault of every American whod rather have a plasma TV or a new car than own a home, long term investments or even stick money away for retirement. This is both the fault of the short-sighted individual and the swollen government. One expects Social Security Insurance to take care of them and the other, as long as it can increase taxation, is more than willing to promise it. A promise it never should have made in the frst place because it cant keep it. I, as I am sure others who live frugally, have just what they need and save at least 20% of their income, do not expect any help from anybody. Government included.

Theres absolutely no reason people cant save money. Im riding the poverty line, am going to school, live on my own, have a car, and can still afford to put away at the very least 20% of my wages.

My secret?

Dont knock anybody up, dont have any addictions or "habits, " pay for everything with cash, and believe it or not, it is possible to get buy without cable TV, internet access, a flat panel TV, an Xbox360, a PS3, or any other unecessary toy people go into everyday to own.

Rent to Own places, loan shark lenders, and solicitous credit card companies arent to blame. Stupid people with no self control are.

Just what Ive observed living where I do. Its amazing in a ghett-esque area when your neighbor comes home with a new BMW he obviously cant afford yet his diet is offensive and his home is crumbling to the foundation. Its economic natural selection. Thats all.

ThisGuy... You know, you've got the answer. You have single-handedly exposed the solution to all our economic woes and I applaud you. Now, if only we could get more people to follow your lead...

Of course if they did, the economy would come to a virtual halt, tax revenues would evaporate and then these tax-breaks would be a non-issue. Can you imagine what would happen to the economy if even the Christmas shopping splurge didn't happen? All that jewelry, all those iPods and plasma TV's are what fuels this economy. That was the whole REASON Bush made the tax cuts to begin with --- to get people spending.

There's no question in my mind that we've all gone overboard on our standard of living and have created screwed-up priorities. But the solution ain't quite as simple as some people would like to have you believe.

What about the economy is crap in particular? Here in Houston, the economy has never been better, business is booming and hiring rates are at an all time high.