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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (614778)	6/6/2011 11:00:08 PM
From: TimF	Read Replies (1) \| Respond to of 1578444

Your data supports my points. The revenue went down with the recessions. It went down by a a larger percentage then the economic decline (largely but not exclusively because much of our revenue comes from progressive income taxes). It went down sharply with the next recession started, without additional cuts in rates, and before any major temporary credits went in to effect I never said it rapidly went up with recovery, or even didn't continue to decline in the early states of a slow recovery. I also never said that the tax cuts signed in to law by Bush did not decrease federal revenue. To an extent the aim of tax cuts is to decrease federal revenue (really to leave more in the hands of the people who earn the money, but in direct terms, and often even including the indirect effects, reduces government revenue) More than 22% growth during the same time period...now I would expect some growth because income ceilings are also being raised during this time period, but not 22%+ You had the income ceilings lifted, and you also had economic growth over the period as a whole (despite the fact that it included 2 recessions). Also payroll taxes are not as subject to decline with recessions as progressive income taxes. Tax regimes like the US income tax, that get much of their revenue from those with the highest income, are particularly susceptible to decline during recessions. Payroll taxes are less susceptible.