Friday, March 4, 2011

US Tax Revenue Plummets in 2010

link here to article

David Cay Johnson discusses the data on falling tax revenue versus the imaginary world described by GOP politicians and some economists who continue to argue that we have a spending problem and not a revenue problem. The talking heads (All GOP) on the Sunday AM news shoes were consistent in keeping to their 2012 campaign strategy mantra of blaming our budget deficits on growth in spending. Some even continue to claim that tax cuts increase tax revenues via additional GDP. All of the recent evidence proves that this is not true but that does not seem to matter.

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