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Tax Revenues Projected to Hit All-Time High in 2013

Mike4166 Wrote: Mar 05, 2013 10:42 AM
Gustav has arrived...
DontEatMyDog Wrote: Mar 05, 2013 10:48 AM
I often disagree with him, and he often annoys me, but he's not a crackwhore, at least in my opinion.

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...