Monday, August 13, 2007
Bush: The Biggest Taxer in World History
The Treasury Department reported Friday that federal revenues reached $2.12 trillion ($2,120,000,000,0000) for the first ten months of fiscal year 2007. In both current and inflation-adjusted dollars, that puts the federal government on course for the most revenue it’s ever collected in a year. Indeed, it’s the most revenue any government in the history of the world has ever collected. And yet it’s not enough to satisfy the voracious appetites of the spenders in Congress and the administration. Spending was $2.27 trillion for the same ten months.
It seems that the deficit problem in Washington is not a result of insufficient tax revenue but rather the inexorable growth of spending on everything from earmarks to entitlements to war....