Democrats have been claiming for years that the Bush tax cuts “were for the rich”.
How is it then that those making over $200,000 now pay 46.6% of total income taxes, up from 40.5% before the tax cuts?
Some other tax news that demonstrates the Democrats political pandering has them, again, on the wrong side of the issue,
2006 tax receipts up 12.9%
According to the Office of Management and Budget, tax receipts have risen faster over the past 8 months of fiscal 2006 than in any other such period over the past 25 years – except for last year’s jump of 15.5%
Corporate income taxes are up 20% over a year ago.
The defecit shrunk by a whopping 16.8%
Next time you hear a Democrat asking “how are we going to pay for these tax cuts”, simply respond, “like we have every other time broad across the board income tax cuts have been implemented (by Republicans), with greater economic activity and growth, hence more tax receipts to the federal government.”