The U.S. recorded record-high tax receipts on Sept. 15, 2006. Was this record a result of the Bush tax cuts or in-spite of the tax cuts? Should we keep the tax cuts?
September 19, 2006:
US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion
Today the US Treasury department said the U.S. government recorded record-high overall and corporate tax receipts on Friday Sept. 15, 2006. That was a quarterly deadline for estimated 2006 tax payments,
The Treasury reported total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year.
Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year.
Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy." Quarles continued in a statement, "In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year."
News Ignored by Mainstream Media
Why has the mainstream media ignored this news? Are they so anti President Bush that they cannot report any news that might mean he has been right about something?
Lets discuss this in the attached discussion forum:
Should we keep the tax cuts? Should they be modified or junked completely?
As of 9/18/06 the Total Return for "Kirk's Newsletter Explore Portfolio" since 12/31/98 is Up 211% while the S&P500 only up 20% & NASDAQ up 2.5% & Warren Buffett's Berkshire Hathaway up 37%!!!
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