” While President Obama claimed repeatedly during both the fiscal cliff and the sequestration debate that America’s problem lay just as much on the tax revenue side as it did on the government spending side, new statistics show what a lie that is. According to the Congressional Budget Office, federal tax revenue will hit $2.7 trillion in 2013, the highest number ever.
Liberals will hang their hat on the fact that tax revenue totals 16.9 percent of GDP this year, as opposed to 18.5 percent in 2007, but that is because people earn less taxable income during recessions.”
- Fed. Government has more tax revenue than ever before in history (bellalu0.wordpress.com)
- Tax revenue to hit record this year. So is spending ‘the problem’? (csmonitor.com)
- Analysis: Cuts unlikely to deliver promised U.S. budget savings (reuters.com)
- Renaissance or collapse? The choice is ours (triblive.com)
- Wealthy’s Tax Bill Will Hit 30-Year High in 2013 (cnbc.com)