http://au.biz.yahoo.com/080512/2/1qlzn.html The US government posted a $US159.3 billion ($A169.52 billion) surplus in April, helped by the mid-month deadline for individuals meeting 2007 tax obligations, but it was down from the prior year's surplus, the Treasury Department reported on Monday. In April 2007, the surplus was $US177.7 billion ($A189.1 billion). In the first seven months of fiscal 2008, which ends on September 30, the government's budget deficit swelled by 88.4 per cent to $US152.2 billion ($A161.97 billion), from $US80.8 billion ($A85.98 billion) in the first seven months of fiscal 2007. The latest figures point to growing strain on the budget, which is poised to face a deeper deficit as payments under an economic stimulus program agreed by Congress and the Bush administration get into full swing. The Congressional Budget Office forecast in March that the fiscal 2008 deficit likely will hit $US396 billion ($A421.41 billion). Defence spending keeps climbing as the administration seeks more funds for wars in Iraq and Afghanistan. In the first seven months of fiscal 2008, Defence Department spending rose by about $US34 billion ($A36.18 billion) from the comparable period in fiscal 2007 to $US341.1 billion ($A362.99 billion). In April alone, receipts primarily from taxes totalled a record $US403.8 billion ($A429.71 billion), up from $US383.6 billion ($A408.22 billion) in April 2007. But outlays also set a record at $US244.5 billion ($A260.19 billion), compared with $US205.9 billion ($A219.11 billion) in April last year. Outlays are due to swell in coming months as tax rebates of up to $US600 ($A638.50) for individuals and $US1,200 ($A1,277) for married couples that are part of the administration's economic stimulus plan start flowing in earnest. The program, intended to give the flagging economy a boost, got started at the end of April and the Treasury Department said that $US3.4 billion ($A3.62 billion) had been issued. The stimulus package is suppose to pump about $US152 billion ($A161.75 billion) into consumers' hands to try to keep the consumption-driven economy from stalling.
I know you being facetious, however there’s some logic to more. Basically implement the flat tax. How it works boggles the minds of many they called it voodoo economics under Reagan but it worked then also. People spend what they get for the most part some is put away but most people live pay day to payday. When people are taxed less they simply spend more. Things they buy raises production and the machine is kicked into over drive. The government still gets the sales tax and increased tax by volume of product moved even if at a lower percentage fate. If you raise taxes you will initially get more revenue. But over a 4 year term the machine slowly starts to slow down. It’s a rubber band effect not initially noticed.
dying dollar The part that stood out for me was the fact that the Aussie dollar and the US dollar have now reached parity. With a weak economy, a weak dollar helps bring in trade, but I'm not sure it's good for the long haul.
It's funny, too... It was George Bush Sr. that first coined that term during the Republican Primaries of the 1980 election, in reference to Reagan's plan. It's just ironic that after Reagan won the bid, he chose Bush as his running mate, after all the mudslinging that had preceded his nomination. (Really, Reagan chose Bush as his running mate because he could cover all of the political bases that Reagan was new to. Bush Sr. had a great deal of experience in foreign relations, and as long as Reagan could keep up with the fantastic speeches, and his *SUCCESSFUL* tax cut program, you had a winning team for most of the 80's. Just wait and see. We'll see it again this year with the Democrats. Obama will win the Nomination, Hillary will be his running mate (learning a bit from the Monica ordeal, and knowing to not waste a drop on the dress she's wearing after she sucks him off under the desk) -- and after they're elected, the Clintons will put a hit out on Obama, propelling Hillary back in charge of the White House again. I have a gut feeling, folks. Place your bets.
There was actually a rumor that McCain was goi g to ask the Hildabeast to be his running mate. Remind one of the movie Citizen McCain? Interesting point on Reagan I had forgot about their mudslinging in the race for the nomination.
National Sales Tax Everyone that spends money pays a tax, those that do not spend any money pay no taxes. No loopholes, no IRS, that saves 444 million a year, no tax attorneys, hurray! No taxes on payroll, no taxes on savings accounts, everyone comes out ahead, and the illegal businesses, e.g., drug sellers, pay taxes, too. A lot according to their lifestyles. More money coming in and less money going out to collect taxes.
I was too young to remember (or even care, for that matter) - there's a series on the History Channel about Bush Sr. - it was interesting to see all the old footage of Reagan in there.
Ican remember back to Carter. I thought the media made to big of a deal about his daughter and felt sorry for him. He seemed awfull whimpy though thats for sure. I remember the Iran hostage crisis and thinking WTH arn't we more powerfull than to have to put up with this. Seems I rember reasoning that the hostages having been warned of the risks of going to Iran decided to anyways for a fat paycheck. They kind of pissed me off a little like they were part to blame. I remember Regan taking office and the morning zoo talk show on the radio playing "I'm Going Back to ObiDabi" (oddly not to be found on Yahoo or Google Search )and the Mickey Mouse posters people would stick on their car windows riding down the freeway. Mickey Mouse giving the Bird and the caption that said "Hey Iran" Yep JC n Fitch The Flat Tax is the way to go. And can be optimumized easially.
