Federal Tax Revenues Set Record Through April

[Freewill]

Despite this record revenue, the federal government still ran a deficit of $306.411 billion in the first seven months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.

Federal Tax Revenues Set Record Through April | CNS News

Didn't I see a flying monkey make a post bragging about the Dow setting new records? Good that the liberals show their love for the 1 percent but the rest of us, we're screwed. Besides I doubt that the flying monkey realized that the stock market is on a bubble just like the housing bubble that the democrats created then bragged about, until they disavowed all knowledge of once it burst.

 

[PaintMyHouse]

306 bil in seven months? That's terrific considering. I didn't know we were tracking that well.

 

[NYcarbineer]

Record revenues AFTER the top rate was raised and AFTER the payroll tax cut expired and AFTER Obamacare?

Hmmm...weren't we assured the opposite would happen?

 

[The Rabbi]

I blame Bush for the increased revenue.

 

[Old Rocks]

Po' babies, the economy just keeps getting better. The only way to make it worse is to return the GOP to power.

 

[Missouri_Mike]

A surplus in April, Isn't there something special about that month? I'm thinking the number 15 for some crazy reason. Like the number 15 and April are some kind of crazy ass date when the government gets paid the most? Am I way off base here in thinking if the government can't actually exceed their expenses in the month of April that's a problem?

 

[OnePercenter]

A surplus in April, Isn't there something special about that month? I'm thinking the number 15 for some crazy reason. Like the number 15 and April are some kind of crazy ass date when the government gets paid the most? Am I way off base here in thinking if the government can't actually exceed their expenses in the month of April that's a problem?

And yet you continue to believe Ford didn't take bailout money.....pretty wimpy!

 

[Chris]

The federal deficit dropped at the fastest pace in history in the last few years.

Meanwhile, Republican governors in New Jersey and North Carolina are creating huge deficits.

 

[MeBelle]

The federal deficit dropped at the fastest pace in history in the last few years.

Meanwhile, Republican governors in New Jersey and North Carolina are creating huge deficits.

Hiya Chris! LTNS, where's your avi?

Anyhow, about North Carolina
RALEIGH (WTVD) -- Proposed pay raises for teachers and state employees could be threatened by a state budget shortfall.

A newly released analysis revealed a $445 million gap in state revenue. The outcome was based in part on this year's tax filings.

The General Assembly makes a budget for two years based on expected revenues. Those revenues were cut when state leaders cut state taxes last year.

Then, when leaders come back the second year of a budget, they have to make adjustments. That is what's happening now.

All of this comes at a time when teachers and state workers are expecting the state to pony up and offer pay raises.

Friday night, Gov. Pat McCrory called the outcome disappointing -- saying there's still almost $600 million in reserves to fill the hole, and to pay those raises.
State budget shortfall projected to be $445 million | abc11.com
So that's a maybe.

And New Jersey

N.J. Unfunded Pension Liabilities Widen to $47.2 Billion

New Jersey’s pension shortfall reached $53.9 billion in 2010 after a decade of expanded benefits and skipped payments.
*cough*Jon Corzine*cough*

The gap narrowed to $36.3 billion after Governor Chris Christie signed bills that boosted contributions from employees, raised the minimum retirement age for new workers and froze cost-of- living adjustments for retirees.

Christie, a Republican who took office in 2010, signed a law that year requiring the state to make one-seventh of its pension contribution in fiscal 2012 and then raise the payment each year until it reaches the full annual amount in 2018.
“The shortfall is far less than it would have been without pension reform,” Bob Grady, chairman of the State Investment Council, said yesterday by telephone. “It has long been projected that the funded ratio would decline over time in the near term before it turned back up.”
N.J. Unfunded Pension Liabilities Widen to $47.2 Billion - Bloomberg

Pretty cool, huh?
They've actually gave a plan to pay off the deficit!

 

[Toro]

I thought raising taxes didn't raise revenues.

 

[The Rabbi]

I thought raising taxes didn't raise revenues.

Not in the long run. It takes time for people to adjust their behavior. But notice GDP numbers have been falling. That is people rearranging things to account for higher tax rates. The surge of revenue will be short lived. Especially if we fall into another recession, which seems likely.

 

[Toro]

I thought raising taxes didn't raise revenues.

Not in the long run. It takes time for people to adjust their behavior. But notice GDP numbers have been falling. That is people rearranging things to account for higher tax rates. The surge of revenue will be short lived. Especially if we fall into another recession, which seems likely.

Tax revenues have gone up almost every year for 100 years regardless if tax rates went up or down.

And GDP didn't stagnate because of taxes.

 

[jknowgood]

Record revenues AFTER the top rate was raised and AFTER the payroll tax cut expired and AFTER Obamacare?

Hmmm...weren't we assured the opposite would happen?

Government bringing in record highs while americans bring home record lows. Only a liberal would be happy about that.

 

[NYcarbineer]

And in a related story:


Kansas tax revenues fall while other states see rise


"Kansas Gov. Sam Brownback was all smiles as he shook hands with Lt. Gov. Jeff Colyer after signing one of the largest tax cut bills in Kansas history in 2012.

“Firm financial footing.” “Signs of steady growth.” “We are seeing the Kansas economic engine running.”

But a new report out last week shows Kansas is losing revenue even as tax collections grew in most other states."

Read more here: Kansas tax revenues fall while other states see rise - KansasCity.com

Cutting taxes increases revenues?? lol

 

[OnePercenter]

I thought raising taxes didn't raise revenues.

Not in the long run. It takes time for people to adjust their behavior. But notice GDP numbers have been falling. That is people rearranging things to account for higher tax rates. The surge of revenue will be short lived. Especially if we fall into another recession, which seems likely.

Corporate America is making money from money rather than sale of products or services....$50 Trillion since 2009. Taxes have nothing to do with it. The US has one the lowest effective rates in the world.

 

[Nyvin]

And in a related story:


Kansas tax revenues fall while other states see rise


"Kansas Gov. Sam Brownback was all smiles as he shook hands with Lt. Gov. Jeff Colyer after signing one of the largest tax cut bills in Kansas history in 2012.

“Firm financial footing.” “Signs of steady growth.” “We are seeing the Kansas economic engine running.”

But a new report out last week shows Kansas is losing revenue even as tax collections grew in most other states."

Read more here: Kansas tax revenues fall while other states see rise - KansasCity.com

Cutting taxes increases revenues?? lol

Yeah, what's even worse is they didn't even cut taxes that help middle class/poor people, they cut income taxes, especially those at higher brackets...basically a free money give-away to rich people. Kinda reminds me of something someone named Bush did.

 

[Erand7899]

306 bil in seven months? That's terrific considering. I didn't know we were tracking that well.

It is amazing how much you do not know.

 

[PaintMyHouse]

306 bil in seven months? That's terrific considering. I didn't know we were tracking that well.

It is amazing how much you do not know.

It matters very little in this case so I don't keep tabs.

 

[The Rabbi]

I thought raising taxes didn't raise revenues.

Not in the long run. It takes time for people to adjust their behavior. But notice GDP numbers have been falling. That is people rearranging things to account for higher tax rates. The surge of revenue will be short lived. Especially if we fall into another recession, which seems likely.

Corporate America is making money from money rather than sale of products or services....$50 Trillion since 2009. Taxes have nothing to do with it. The US has one the lowest effective rates in the world.

You've already proven yourself an idiot, a poseur and an ignoramus.
How are they making money from money with interest rates effectively zero?
The US has the highest tax rate in the developed world.