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Tax Revenues Quotes
The Congressional Budget Office has been embarrassed repeatedly by making projections based on the assumption that tax revenues and tax rates move in the same direction.
When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans.
Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen's compensation, health care benefits, welfare, you name it.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years.
Fewer people working means permanently lower tax revenues.
The unhappy irony is that, while 'Glee' is hitting the heights, school arts funding is being slashed across the country due to the steep recession and declining tax revenues.
Rather than undermining the Palestinian Authority, it is in Israel's interests to strengthen it by... continuing to transfer Palestinian tax revenues and pursuing other avenues of cooperation.
The stagflation of the 1970s blessed us with damaging wage and price controls and the utterly counterintuitive supply-side notion - famously drawn on a napkin - that cutting taxes would lead to higher tax revenues.
Of course, tax revenues have ended up being substantially higher than they were at the time these dire projections were made, and we are very close now to having a balanced budget. All that has been very helpful.
Federal gas tax revenues that are paid into the trust fund by highway users should be used for programs that benefit highway users.
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