Saturday, August 12, 2006

More proof tax cuts work:

This week the Treasury Department released its latest figures on income tax receipts for the government.

Through July of 2006 individual income-tax receipts totaled $866.56 billion up from $756.13 billion last year.

Corporate income taxes totaled $261.25 billion up from $205.9 billion last year.

So despite the “tax-cuts for the rich” the government is actually taking in more money. Funny how that works? Cut taxes and the government makes more. Could it be that the American public actually is more productive and efficient at spending their own money than the U.S. government, leading to a higher realized gain in the form of GDP?

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