Tax Cuts.......income......record setting

[JustRalph]

Glad the Economy is so far in the dump..........the Government set a new record for Tax receipts in one day. I am sure the Dems will find a way or a formula that will shoot this down.........wait ten minutes.........

http://www.easybourse.com/Website/dynamic/News.php?NewsID=58170&lang=fra&NewsRubrique=2


US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion
Tuesday September 19th, 2006 / 0h04

WASHINGTON -(Dow Jones)- The U.S. government recorded record-high overall and corporate tax receipts on Sept. 15, which was a quarterly deadline for tax payments, the Treasury said Monday.
Total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year, the Treasury said.
Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year.
Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy."
"In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year," Quarles said in a statement.

[JPinMaryland]

No need to print more money then?

[Bala]

Just when everyone thought the U.S. trade deficit couldn’t possibly get any worse, the Commerce Department has announced that the July deficit was the biggest in history.

And just when the markets were adjusting to that first shock, the government announced still another whopper yesterday — the second worst quarterly trade deficit in history.

These numbers are downright ugly. In fact, we’re on pace to hit a trade deficit of $776 billion for the year. That would be the fifth record-smashing year in a row!

A lot of people are attributing this torrent of red ink to sky-high energy prices. Sure, we buy a lot of foreign oil — for example, $28.5 billion in July. But oil isn’t the whole story.

Get this: We spent almost as much on Chinese-made shoes, clothes, toys, stereos, and TVs as we did on OPEC oil! Imports from China rose to a record-high $24.6 billion in July.

What this means: China is making money hand over fist. And in just the first seven months of the year, China had a total trade surplus of $94.6 billion. Heck, in August alone, its surplus was $18.8 billion, a staggering 32.7% more than the same month last year.

By the end of the year, China will easily smash last year’s record intake of $100 billion in U.S. currency, raking in as much as $150 billion. That’s a huge wad of new dough pouring into China.

_________________
Outsource congress.

[Bala]

How Washington’s Enron-Style Accounting Makes
The Great Corporate Scandals of This Decade
Look Like Little White Lies by Comparison

Much like major auditing firms review the books of a GM or IBM, the U.S. Government Accountability Office (GAO) audits the books of Uncle Sam, including its departments and agencies. http://www.gao.gov/

But in its latest year-end media advisory (http://www.gao.gov/consolidatedfinreport121505.pdf#search=%22GAO%20bu dget%2), the GAO plainly states that

“For the ninth straight year, the U.S. Government Accountability Office (GAO) is unable to provide an opinion as to whether the consolidated financial statements of the U.S. government are presented fairly, in all material respects, in conformity with generally accepted accounting principles.”

In other words, the same government that is aggressively pursuing corporations for bad accounting is the most guilty of similar practices.

In an earlier report to Congress (http://www.gao.gov/cghome/nytoped.pdf#search=%22David%20M%20Walker%20defici) , GAO Director and U.S. Comptroller General David M. Walker bluntly explained it this way:

“The current system of federal financial reporting provides an unrealistic and even misleading picture of the government’s overall performance and financial condition ... A key lesson from Enron, WorldCom and other business failures is that our free-market system depends on public confidence in the accuracy of ... financial information.”

But, unfortunately, Washington has so far failed to learn that lesson.In several departments of the executive branch, especially Defense, balance sheets don’t balance and taxpayer money disappears. So beyond the deficit manipulations that we know about, there could be many others that are unknown, even to the federal auditors.

This is easily one of the greatest scandals of our time, and yet it’s rarely discussed and often forgotten. http://www.gao.gov/

_________________
Outsource congress.

[Suff]

We're going to require more.

[JustRalph]

boy, that didn't take long..............

you guys scream for more corporate taxes.......and records are set........

you say that tax cuts don't stimulate the economy.......and records are set

the Stock market is near a record high.............. records are set........


but,,,,,,,, it is never enough............ :ThmbDown:

[46zilzal]

yes the rich keep getting richer by sending work elsewhere.

[ljb]

boy, that didn't take long..............

you guys scream for more corporate taxes.......and records are set........

you say that tax cuts don't stimulate the economy.......and records are set

the Stock market is near a record high.............. records are set........


but,,,,,,,, it is never enough............ :ThmbDown:

JR,
Read the other notes in this thread. The records being set are like Saddam's wmds, fake.
Is there an icon for WAKE UP ?

[46zilzal]

because fat cat corporations and banking institutions are doing very well, it means nothing to the overall picture. NADA

[PaceAdvantage]

Yup, everything is fake, until a democrat is in the White House. Then everything that was ONCE FAKE, will become REAL again (including low unemployment figures....those will COUNT once again).

Since the Gov't has been fudging its books for 9 years (according to Bala's post), I guess we can blame this on Clinton cause it started during his tenure...lol Of course, if a Dem wins the White House in '08, then we won't hear another word about questionable Gov't accounting practices...not from the 4 horsemen anyway.....

Why do we bother debating anything on off-topic? When you present facts, they are discounted as lies. You can't freakin' win, so why bother?

[46zilzal]

it's all selective reporting NO MATTER which party reports it. They ALL claim it's the best during their "leadership."

[kenwoodallpromos]

More money to go around just means more picking and choosing what and who to trash and spin!

[Tom]

Why do we bother debating anything on off-topic? When you present facts, they are discounted as lies. You can't freakin' win, so why bother?

I put so many on my "iggy" list this week I am only reading half the posts I sued to.

It occurred to me that I was getting more orange juice from rocks than intellegent replies in Off Topics. The motiff here is for many to just keep repeating lies and keep bouncing lies to the tops of threads.

The best way to deal with them, as YOU suggested a few years ago, is to just ignore them and let them post unanswered crap until they get tired and go away.

So I refuse to converse with the riff raff you let in here! :lol:

[NoDayJob]

I put so many on my "iggy" list this week I am only reading half the posts I sued to.

It occurred to me that I was getting more orange juice from rocks than intellegent replies in Off Topics. The motiff here is for many to just keep repeating lies and keep bouncing lies to the tops of threads.

The best way to deal with them, as YOU suggested a few years ago, is to just ignore them and let them post unanswered crap until they get tired and go away.

So I refuse to converse with the riff raff you let in here! :lol:

================================================== ========

:lol: Then you wouldn't be able to hold the all time posting record. :lol:

[Bala]

Here is your tax cuts at work:

The VA is $3 billion in the hole this year because they forgot there was a war going on in Iraq when they submitted their budget.
http://news.yahoo.com/s/ap/20060920/ap_on_go_ot/veterans;_ylt=ApkjhCmNzFg3SBrWYD7PONEDW7oF;_ylu=X3 oDMTA2Z2szazkxBHNlYwN0bQ--


The incompetence confounds the mind! First there was a shortage of vests. Then a shortage of iron plating for hummvies. Now this. Our veterans get screwed every time.

__________________________
Damn it - outsource congress - that dome of monkeys.

[boxcar]

yes the rich keep getting richer by sending work elsewhere.

Yup, and look at all the poor people "over there" who are benefiting by the "rich" doing this. I thought you Libs championed the causes of the poor, downtrodden, underprivileged, underclass, undereducated and underpaid, and all that good stuf -- most especially in Third World countries where all these jobs are helping to bring America down several notches in order to level the economic playing field. After all, isn't America too rich and too powerful? And doesn't this largely contribute to our foreign policies, and why America is the blame for all the world's woes?

Guess this is just another example of liberals talking out of both sides of your mouth. This you guys excel in doing!

Boxcar