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To: MulhollandDrive who wrote (17948)	2/28/2004 1:52:13 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

Check this out though: CBO historical budget data- individual income receipts and corp taxes, by year. 2000 1,004.5 207.3 2001 994.3 151.1 2002 858.3 148.0 2003 793.7 131.8 cbo.gov 2001 and 2002 was a recession. But the fact that 03 shows receipts still declining in what is supposed to be a "booming economy" (according to supply side economists) means incomes are still declining, rather dramatically. Corporate taxes are still declining, but we know from S&P that corps are more profitable now than in the past. The problem is that various tax loopholes (including moving offshore) means less revenues.

To: MulhollandDrive who wrote (17948)	3/3/2004 1:40:46 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

Here it comes...... (this is a wierd article because they are talking about tax cuts and refunds, however the gist of it is that people are paying less taxes than "predicted" by this treasury team- DOH) Early tax returns subject of economic-policy debate Susan Herring, an economist at UBS, said the IRS's numbers make it appear that the Treasury Department's forecast might be overstated. Still, she said many upper-class taxpayers, who don't typically receive refunds and don't usually file early, will get big checks this year because of the tax-code changes. Those changes are also expected to lower the amount that taxpayers who owe money with their returns must shell out by approximately $13 billion, from $85 billion to $72.5 billion. Referring to the Treasury Department's monthly treasury statements, EPI's Max Sawicky said that compared to last year more money is being collected in some months and in others the proceeds are down. "If taxes were driving the economy, every month the treasury would collect more," Sawicky added. (which is what happened in the 90s when we clearly had a robust economy) biz.yahoo.com