US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion [title changed] (1 Viewer)

[Stinger]

US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion Tuesday September 19th, 2006 / 0h04 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. Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year. Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy." "In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year," Quarles said in a statement.

http://www.easybourse.com/Website/dynamic/News.php?NewsID=58170&lang=fra&NewsRubrique=2

Guess the libs just hate it. With revenues pouring in takes away another issue they hoped to run on.

 

[ProudAmerican]

Re: Tax reciepts WOW

Good news.

Does this mean the tax cuts actually worked?

 

[faithful_servant]

Re: Tax reciepts WOW

Good news.

Does this mean the tax cuts actually worked?

No, PA, it means that the false military regime ecomony created by PNAC and the bin Laden family is almost at the point of collasping. All of this growth and tax reciepts are nothing more than an illusion of prosperity. Just ask Michael Moore, I'm sure that his next movie will show just how wrong the neo-cons are. :spin: :spin: :spin:

 

[PeteEU]

Re: Tax reciepts WOW

Yea wow, its a great soundbyte. Just like "unemployement is low" or "the insurgency is in its last throws".

Where are the facts and figures? There is nothing in the article that remotely explains why. "The US economy is going great" is not an answer, because an economy can be going great and yet tax revenue can be flat because of poor management or changed tax laws or other factors. Heck it could even be the IRS counting things differently.

What I mean the tax revenue can easily be the IRS hitting down hard (or actually doing thier jobs) as it can be an after effect of a booming economy or a tax cut.

Personally I think its a combination of various factors that give this this increase and its not unheard off. I dont doubt that tax revenues are up by any means, but I do question why its up and especially if someone starts to claim one factor only.. like a tax cut, or booming economy or Bush has done voodoo.

 

[Navy Pride]

Re: Tax reciepts WOW

It has proven over and over again that tax cuts stimulate the economy and increase revenues more then tax increases..........

Now we need to see the tax cuts made permanent.........

 

[Navy Pride]

Re: Tax reciepts WOW

duplicate post

 

[Stinger]

Re: Tax reciepts WOW

Yea wow, its a great soundbyte.

Like I said, liberals just can't stand it.

Just like "unemployement is low"

Exceptionally low, I live in one of the poorest states in the Union and we are at 3.5%. Why, because the economy is extremely good, companies are being created, jobs are being created and the government is staying out of the way.

Where are the facts and figures?

I gave them to you with a cite, if you want more go find it yourself. They remain unrefutted.

There is nothing in the article that remotely explains why.

Yes it does, you just don't like it.

"The US economy is going great" is not an answer,

That along with people being able to keep more of thier money and invest it back into the economy.

because an economy can be going great and yet tax revenue can be flat because of poor management or changed tax laws or other factors. Heck it could even be the IRS counting things differently.

What I mean ...................

Is that you can't stand it and are going to now try and make up reasons why it couldn't possible be because of what it really is.

Personally I think its a combination of various factors that give this this increase and its not unheard off.

Of course you do, accepting the reality that the economy is great and tax revenues are booming is not polticially tasteful for you.

I dont doubt that tax revenues are up by any means,

Well DUH it's be kinda hard to.

but I do question why its up and especially if someone starts to claim one factor only.. like a tax cut, or booming economy or Bush has done voodoo.

No you just don't accept the clear reasons because they are not poltically good for you.

 

[ProudAmerican]

Re: Tax reciepts WOW

stinger,

you and I have dissagreed on the seperation of church and state issue (or lack thereof)

but other than that, you rock.

You do a much better job of refuting liberal nonsense than I ever could.

nice job and kudos.

 

[Stinger]

Re: Tax reciepts WOW

stinger,

you and I have dissagreed on the seperation of church and state issue (or lack thereof)

but other than that, you rock.

You do a much better job of refuting liberal nonsense than I ever could.

nice job and kudos.

Applying logic to facts does wonders doesn't it.

 

[Iriemon]

Re: Tax reciepts WOW

Guess the libs just hate it. With revenues pouring in takes away another issue they hoped to run on.

LOL -- not quite.

With all this *WOW* news on revenues, our conservative government must be borrowing a *lot* less money, right?

Total debt: http://www.publicdebt.treas.gov/opd/opdpenny.htm

09/30/2005 $7,933 billion
09/30/2004 $7,379 billion

Debt increase FY05: $554 billion.

09/19/2006 $8,497 billion
09/30/2005 $7,933 billion

Debt increase FY06 (so far): $564 billion.

Ooops!

But now here comes the posts telling us how this is just fine because we are fighting wars, Katrina, 9-11, and whatever other excuses you'll come up with.

 

[Stinger]

Re: Tax reciepts WOW

LOL -- not quite.

With all this *WOW* news on revenues, our conservative government must be borrowing a *lot* less money, right?

:rofl whoever told you that? You just can't stand it can you.

But now here comes the posts telling us how this is just fine because we are fighting wars, Katrina, 9-11, and whatever other excuses you'll come up with.

Hook line and sinker Iremon, you fell right into it. You just can't stand it so you have to desperately try and change the subject.

This is about revenues, not expenditures, not Katrina, not the war.

 

[Iriemon]

Re: Tax reciepts WOW

:rofl whoever told you that? You just can't stand it can you.

Hook line and sinker Iremon, you fell right into it. You just can't stand it so you have to desperately try and change the subject.

This is about revenues, not expenditures, not Katrina, not the war.

You were trying to get me to show that the Govt borrowing even more money this year than it did last year? Yep, I fell for it.

Who cares what revenues are? It's great they are going up, and after 6 years it's long past due. But revenues alone are not a problem. Revenues could be $5 billion or $5 trillion, and that wouldn't necessarily be a problem. The problem is that this Administration cannot control its debt addiction. It has added almost $3 trillion more debt that is the problem. And that is because this administration is borrowing 1/2 a trillion every year because revenues are less than expenditures.

Saying that because revenues went up "in takes away another issue" is a complete strawman. Show me a report that says that the government is borrowing $100 billion less than the year before and I'll happily acknowledge progress. Although that would still be a long way from "progress" from 2000, when the debt was actually going down, not up.

 

[Stinger]

Re: Tax reciepts WOW

You were trying to get me to show that the Govt borrowing even more money this year than it did last year?

That's a blatant lie on your part I did nothing of the sort. If you are going to post here at least do so honestly.

You just can't stand it can you.

 

[Iriemon]

Re: Tax reciepts WOW

That's a blatant lie on your part I did nothing of the sort. If you are going to post here at least do so honestly.

You just can't stand it can you.

A "blatant lie," Slinger? You just said my post was "Hook line and sinker Iremon, you fell right into it."

I took your statement "hook line and sinker" -- generally a referral to fishing -- to mean you saying you baited me in to making the response. If I misunderstood your meaning, sorry, which is why I asked in a question form and did not make a statement. A "blatant lie"? LOL! Someone pee in your conflakes this morning?

 

[Stinger]

Re: Tax reciepts WOW

Originally Posted by Iriemon
You were trying to get me to show that the Govt borrowing even more money this year than it did last year?

A "blatant lie," Slinger? You just said my post was "Hook line and sinker Iremon, you fell right into it."

Yep. Proving you just can't stand it. Revenues are up and up dramatically.

 

[Iriemon]

Re: Tax reciepts WOW

Originally Posted by Iriemon
You were trying to get me to show that the Govt borrowing even more money this year than it did last year?

Yep. Proving you just can't stand it. Revenues are up and up dramatically.

Pee would make the cornflakes taste bitter. It would put me in a foul mood also.

 

[Donkey1499]

Re: Tax reciepts WOW

This IS good news. I can see though that a couple liberals are kicking and screaming on here tho. Hmmm.... Need a diaper change? lol

I saw some debate on here about the federal deficit. From this report it looks good now, but may rise in a decade... only time will tell

http://www.foxnews.com/story/0,2933,208922,00.html

 

[Iriemon]

Re: Tax reciepts WOW

This IS good news. I can see though that a couple liberals are kicking and screaming on here tho. Hmmm.... Need a diaper change? lol

I saw some debate on here about the federal deficit. From this report it looks good now, but may rise in a decade... only time will tell

http://www.foxnews.com/story/0,2933,208922,00.html

Total US Govt debt:

09/19/2006 $8,497 billion
09/30/2005 $7,932 billion
Increase: $565 billion

Source: US Treasury Dept. http://www.publicdebt.treas.gov/opd/opdpenny.htm

Government borrowing is again exceeding $1/2 trillion this year, it will be the 4th straight year in a row.

Only a true pro-debt pass the buck Republican would say "it looks good."

 

[faithful_servant]

Re: Tax reciepts WOW

LOL -- not quite.

With all this *WOW* news on revenues, our conservative government must be borrowing a *lot* less money, right?

Total debt: http://www.publicdebt.treas.gov/opd/opdpenny.htm

09/30/2005 $7,933 billion
09/30/2004 $7,379 billion

Debt increase FY05: $554 billion.

09/19/2006 $8,497 billion
09/30/2005 $7,933 billion

Debt increase FY06 (so far): $564 billion.

Ooops!

But now here comes the posts telling us how this is just fine because we are fighting wars, Katrina, 9-11, and whatever other excuses you'll come up with.

What's your point, irie? I don't know of a single conservative on this boards that wouldn't love to take every single congresscritter and the President to the wood shed over spending. Now, the topic of thread is tax receipts being up, try to keep up.

 

[Donkey1499]

Re: Tax reciepts WOW

Total US Govt debt:

09/19/2006 $8,497 billion
09/30/2005 $7,932 billion
Increase: $565 billion

Source: US Treasury Dept. http://www.publicdebt.treas.gov/opd/opdpenny.htm

Government borrowing is again exceeding $1/2 trillion this year, it will be the 4th straight year in a row.

Only a true pro-debt pass the buck Republican would say "it looks good."

Where's all the money going?

 

[Iriemon]

Re: Tax reciepts WOW

What's your point, irie? I don't know of a single conservative on this boards that wouldn't love to take every single congresscritter and the President to the wood shed over spending. Now, the topic of thread is tax receipts being up, try to keep up.

Receipts are up! Yippee!

 

[Iriemon]

Re: Tax reciepts WOW

Where's all the money going?

Does it really make a difference? The problem is that these pass the buckers running our Govt borrow $1/2 trillion more every single year.

 

[Donkey1499]

Re: Tax reciepts WOW

Does it really make a difference? The problem is that these pass the buckers running our Govt borrow $1/2 trillion more every single year.

I bet the dems did the same damn thing. They're politicians, dude. It's what they do. They can't resist being corrupt. Especially liberals and RINOs...:mrgreen:

 

[Iriemon]

Re: Tax reciepts WOW

Originally Posted by Iriemon
Does it really make a difference? The problem is that these pass the buckers running our Govt borrow $1/2 trillion more every single year.

I bet the dems did the same damn thing. They're politicians, dude. It's what they do. They can't resist being corrupt. Especially liberals and RINOs...:mrgreen:

Actually, the Dems didn't do the same damn thing. The last time Dems had the Congress and the WH in '93, the deficits were $340 billion, and they did something about it and passed a major tax increase which bumped the top rates from 31% to 39%. They got spanked for that bit of political courage, and lost Congress in 94.

These are historic budget deficit/surplus figures from the Congressional Budget Office

http://cbo.gov/budget/historical.pdf Table 1.

year deficit(-)/surplus

1979 -38.7
1980 -72.7
1981 -73.9 <- Reagan
1982 -120.0
1983 -208.0
1984 -185.6
1985 -221.7
1986 -237.9
1987 -169.3
1988 -194.0
1989 -205.2 <- Bush
1990 -277.8
1991 -321.5
1992 -340.5
1993 -300.4 <- Clinton
1994 -258.9
1995 -226.4
1996 -174.1
1997 -103.3
1998 -30.0
1999 1.9
2000 86.6
2001 -33.3 <- Bush
2002 -317.5
2003 -536.1
2004 -567.4
2005 -493.6

 

[TurtleDude]

Re: Tax reciepts WOW

Actually, the Dems didn't do the same damn thing. The last time Dems had the Congress and the WH in '93, the deficits were $340 billion, and they did something about it and passed a major tax increase which bumped the top rates from 31% to 39%. The got spank for that bit of political courage, and lost Congress in 94.

Its really not courageous to jack up the taxes on the top 5%. that is why dems like a graduated tax-they can slam "the rich" to slake the envy of their minions without increasing the taxes on most of their voters. Courageous would be telling everyone that if taxes go up EVERYONE pays more (and that is the way it should be-that prevents a majority constantly voting themselves the wealth of the productive minority)

what cost the dems congress was the fact Clinton promised a middle class tax cut that didn't happen (it was a tax hike) and the moronic gun ban