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Tax Revenues Projected to Hit All-Time High in 2013

DevinDenver Wrote: Mar 05, 2013 2:22 PM
So if a business has customers that are willing to pay say $10 for their product, but due to taxes and regulations must now charge $11 (in an already unstable economy), you don't think there will be an impact? And, do you not think a business KNOWS this?

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...