« BACK  |  PRINT

RS

FRONT PAGE CONTRIBUTOR

Tax revenues hit below the waterline this year.

By: Moe Lane (Diary)  |  August 4th, 2009 at 08:30 AM  | 

RESIZE: AAA

(Via Gateway Pundit) Get used to this graphic, because you’re going to be seeing it a lot:

PLUMMETING TAXES

These numbers, of course, reflect percentage changes in tax revenues, not the amount collected. For that highly depressing number we’ll go to Heritage:

federal-spending_10-580

…which by the way indicates that the gap between tax revenues and federal spending suddenly started to accelerate somewhere around 2007. Which is about the time that the Democrats got back Congress, oddly enough.

If you’re still in a mental state where you’re not motivated to do something about this insane financial free fall that the Democrats have signed us up for, I suggest that you read this AP report closely. Particularly the bits where it notes that the worst-case scenario on Social Security insolvency has the first crisis point hitting at 2013 now. Not as far away as it used to be, is it?

Moe Lane

PS: Remember this?

This is the problem with the Democratic party’s strategy of deciding that the Social Security crisis was best to be solved by the future; I happen to live there.

Crossposted to Moe Lane.

Tags: ,

COMMENTS

POSTING RULES  |  LOGIN TO COMMENT  |  REGISTER TODAY
  • fishbreath

    He wasn’t perfect, that’s for sure, but still.

    I guess you only realize how much you miss your friends, even if they’re a bit spendy, once they’re gone.

  • http://ssmag.wordpress.com athelas

    The immediate drop in tax revenues are indubitably due to the recession, not the changes in policy. The changes in policy will probably reduce economic growth and tax revenue, but that will take longer to show up.

  • http://moelane.com/ Moe Lane

    And thanks to their immediate endorsement of faith-based policies like Keynesian economics and global warming, we’ve been literally paying the price for their theological beliefs ever since.

  • evanm

    Moe didn’t attribute the drop in tax revenues to changes in policy. He attributed the deficits to them:

    …federal spending suddenly started to accelerate somewhere around 2007.

    That being said, I don’t think many people here will agree with you if you’re arguing that this recession and housing bubble weren’t caused by Democratic policies.

    Moe’s point, as I read it, is that all of O’s deficit projections were based on ridiculously rosy projections of economic growth. The gap between spending and revenues was entirely predictable from the outset, and the democrats are to blame for those, not the the recession.

  • johnt

    gee, what happened to all those long range, very long range,predictions we were getting from the experts, the ones that went out from twenty to thirty to fifty or more years?
    Not to worry, it’s so far away. Except it isn’t,.

    And Bush was supposed to be stupid ? Apart from evil what does that make the Democrats?

  • http://www.nighttwister.com NightTwister

    were after tax cuts were passed (by Reagan, and W).

    This just cannot be. It’s a Known Fact™ that you don’t get an increase in tax revenues after a tax cut for the wealthy!

  • yoyo

    Someone should get that last graph (Heritage’s) over to Al Gore and “Dr.” James Hanson. This is what a true “Hockey Stick” looks like. A Hockey Stick that Obama and Demoncrats are trying to Rahm up the Collective American As…..er, Buttocks.

    This TARP/Stimulus/Crap and Triad/Healthcare Debacle … It is like killing cockroaches with hand grenades. Yeah, you will kill the cockroach alright, but you sure aren’t going to be using kitchen any time soon.

  • louisiana

    your opinion, as well as other RSers, regarding Gerald Celente’s economic predictions. He paints a pretty scary scenerio for the future.

  • evanm

    This was sitting in my Twitter queue until you made it as well.

  • JadedByPolitics

    which is why they “floated” the idea of a middle class tax this past weekend.

  • izoneguy

    http://briefingroom.thehill.com/2009/08/04/gregg-were-going-to-be-like-a-banana-republic-in-10-years/

  • marshmom

    because they knew as soon as they passed “health care” reform they’d be killing off the old folks anyhow.

    How these people look themselves in the mirror everyday, I’ll never know.

  • persiflage

    before they ever “float” the idea of the government doing less things as a way to balance the budget to the expected revenue. And yet, my household has to do that all the time, every single month.

    Here’s my idea for a 2010/2012 political bumper sticker :

    REBOOT GOVERNMENT – RE-ELECT NOBODY

    You’re free to use the idea, if so inclined.