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To: Go Gordon

That’d be great. I knew this article was BS but, looking up all the numbers and trying to figure out everything he left out or misrepresented was just mind boggling. I knew if I posted the article here, I’d get lots of info ;)


20 posted on 08/07/2011 2:09:51 PM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: MsLady
As promised, here are the numbers that I got from the Fed's website (numbers in billions - Year - Income tax revenue - Total revenues). Remember, the final tax cuts were passed in 2003 and took about a year to be fully implemented and have an affect on spending.

Last three years under Clinton

1998 - 1,017 - 1,721
1999 - 1,064 - 1,827
2000 - 1,211 - 2,025

Eight years under Bush

2001 - 1,145 - 1,991
2002 - 1,006 - 1,853
2003 - 925 - 1,782
2004 - 998 - 1,880
2005 - 1,205 - 2,153
2006 - 1,398 - 2,407
2007 - 1,533 - 2,568
2008 - 1,450 - 2,524

First two years under Obama

2009 - 1,053 - 2,105
2010 - 1,154 - 2,173

What I was amazed at was the difference in revenues between the Clinton years and after the Bush tax cuts. The media always says the Bush tax cuts reversed the "Clinton Surplus". In reality, the revenues were larger under Bush. Unfortunately, he had to deal with 911, the Iraq war, and he the congress implemented homeland security and put prescription drug benefits into medicare which made goverment spending skyrocket more than the increased revenues.

68 posted on 08/09/2011 4:53:38 AM PDT by Go Gordon (He's so bad, even the people from Kenya insist Obama was born in the USA)
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