In response to:

Tax Revenues Projected to Hit All-Time High in 2013

DevinDenver Wrote: Mar 05, 2013 2:02 PM
Al, do YOU have any clue what you are babbling about? Do YOU for one minute believe that if we give your boy an additional $500 billion in revenue he would pay one penny down on the deficit? If so, then I also bet you believe Al Gore won the election. Can you not see the evidence staring you in the face that we have a SPENDING PROBLEM? Our revenues have averaged about 18.5% of GDP but our spending has average 21%. YOU could make the case that we need to raise revenue to the 21% level - but how do you propose to do that? What consequences would there be? Is it even possible? How about we reduce spending to the 18% level and balance the budget? (That presumes we have a budget).

The Congressional Budget Office anticipates that federal tax receipts will hit an all-time high of $2.7 trillion this fiscal year, yet the annual deficit will still clock in between $800 and $900 billion.  We have a spending problem:

An impasse over the shape of the federal budget keeps boiling down to this basic plotline: Democrats say the solution to high deficits must include more tax revenue, while Republicans say the fundamental problem is spending. Failure to reach a middle ground has prompted automatic spending cuts known as the “sequester” to go into effect. This wasn’t...