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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (124979)7/13/2005 10:26:48 AM
From: carranza2  Read Replies (1) of 793926
 
THE 25 PERCENT SOLUTION [JPod]
Hey, the federal deficit just went down by 25 percent. The New York Times even noticed. It's difficult living during the worst economy since Herbert Hoover, ain't it?
Posted at 10:02 AM


RE: the 25% solution.

What a load of dangerous BS. I hate it when the extent of the budget deficit is misrepresented.

We are seeing the temporary, one-time effecs of the tax on cash being repatriated by corporations at an extremely favorable rate. Enormous amounts of cash are coming in and the discounted tax is being paid, thereby increasing tax revenue, but it's a one time deal. Once the tax holiday is over, we're back at square one, with the budget deficit back into its huge amounts.

Even with the tax holiday, the deficit is enormous.

Plus, the extent of the deficit is being misrepresented. See this:

calculatedrisk.blogspot.com

Read this with respect to the deficits. Long but very good.

iie.com
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