[Oldeconomybuyer]

[Marty62]

Can everyone say DEPRESSION.... see I knew you could.

[Iron Munro]

Tax Revenues Post Biggest Drop Since Depression

Tax Revenues Post Biggest Drop Since The Previous Depression

[E. Pluribus Unum]

We all know that government can never do with less, so the only thing to do is raise the income tax rate to 100%.

They can give back to you whatever they think you deserve.

[circumbendibus]

Bookmarked.

[Buckeye McFrog]

being liberal ideologues, Bam and Pelosi will react by raising taxes, which will invoke another downward spiral, leading the the pulling of that big electoral flush handle in Nov. 2010

[GOPJ]

And yet, according to Obama’s people, the housing market is recovering. Something doesn’t add up.

[ken21]

gosh, that’s a shame.

the state of california won’t be able to pay their over-paid

school, police, fire and prison unions

[Domandred]

Tax revenues down? Crap better raise taxes some more! That will fix it!

(/sarc)

[TexasRepublic]

It’s a counterrevolutionary conspiracy by the kulaks, Comrade. They are withholding taxes. The State must resolutely seize their property.

[MarkL]

Obama has admitted on more than one occasion that HE KNOWS that lowering taxes increases revenue to the treasury, while raising taxes will reduce revenues to the treasury, but raising taxes is "more fair."

Mark

[Condor51]

Tax Revenues Post Biggest Drop Since Depression

Hey no problem. 'We' just need a modern version of Smoot-Hawley. We can call this one .. Pelosi-Lee (for the two biggest dimwits in the House).

It will put HUGH tariffs, 60% or so, on allllllll foreign imports -- everything from Lead Pencils made in Taiwan to Japanese Steel and Musical Instruments made in China. 'On paper' it will raise tax revenue 10¹⁰ as this will put all Americans back to work and strengthen unions and raise wages.

Or... it will make this 'depression' last until 2050 and we'll all be living in boxes and killing each other for food. And we'll be begging countries like Botswana for relief from our National debt.

[Kellis91789]

I guess this guy has no clue what the term “limited government” really means:

**
“The numbers for 2009 are striking, head-snapping. But what really matters is what happens next,” said Gale, who previously taught economics at UCLA and was an adviser to President George H. W. Bush’s Council of Economic Advisers.

“If it’s just one year, then it’s a remarkable thing, but it’s totally manageable. If the economy doesn’t recover soon, it doesn’t matter what your social, economic and political agenda is. There’s not going to be any revenue to pay for it.”
**

It doesn’t require much revenue at all to pay for what the Constitution actually authorizes the Federal government to do. That, plus paying off the debt, could be done with 1/3 the current reduced revenue level.