The CBO reported yesterday with little coverage by the media, that the U.S. has set a new world record for tax revenue collected. Under the Bush Tax Cuts the U.S. collected a record 2.45 Trillion dollars in taxes last year. This was down from the original estimates of 2.9 trillion dollars as a result of the ongoing economic situation and high unemployment.
The 2.7 trillion is the most tax money ever collected by any country in the world at any time in history, and according to the CBO can be attributed directly to the Bush Tax Cuts.
I myself consider the above information more proof that lower taxes means more money for everyone including the government.
But we still have Obama saying “We don’t have a spending problem. We have a revenue problem.”
Exactly how can he say that when the government just collected more tax money than has ever been collected before, in this or any other country, in the history of the world. Just more proof that the man in the White House has no clue on how the U.S. economy works, or that he dosen't cares about anything but his own agenda of “fundamentally changing America.” into a socialistic society, with a third world economy.