February 7, 2006

Treasury says extending tax cuts would cost blns

From Reuters via Yahoo! News:

Key White House tax proposals would cost the U.S. government tens of billions of dollars in lost revenue, the Treasury Department said on Monday, although the administration says they will help boost revenues in the long run.

Making permanent expiring tax breaks for dividends and capital gains, which expire at the end of 2008, would cost the government $7.74 billion in 2008 and $37.02 billion in 2009, Treasury said in its "Blue Book" description of revenue proposals in President Bush's fiscal 2007 budget.


Separate White House economic forecasts issued with the budget proposal project revenues climbing to $2.42 trillion in fiscal 2007 from $2.29 trillion in the current fiscal year that ends September 30. Revenues would continue to rise, to $2.6 trillion in fiscal 2008, and $2.71 trillion in fiscal 2009.


Oh I get it, the tax cuts will help revenues, they're getting more specific than just saying "tax cuts help the economy", now we're getting some truth out of them. Tax cuts help revenues, but what, or WHO do revenues help? I wonder what CEOs do with extra revenue, lemme just take a wild fucking guess: Ummmm, keep it for themselves? Well maybe not all of it, but still, the government is in debt, the government needs the money, and I know that the country is literally run by the corporations, which means that more revenues for corporations technically means more money for the government, BUT its also true that the corporations that actually run this country don't protect the common man the way our government is supposed to.

So you know what I say to "more revenues"? SCREW THAT! Cut back on the war, cut back on NASA and bring taxes back up on the wealthy. The result: a government out of debt with money to be spent on education, and THAT will help AMERICA in the long run.

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