Two weeks ago we penned "As US Debt Hits New Record, Fiscal 2012 Tax Revenues Are 10% Higher Than Debt Issuance" which unfortunately was very wrong: we completely forgot that tax revenues in the US are a two way street particularly from January through the end of tax season on April 15, when income and employment tax withholdings are offset by tax refunds as consumer claim what was rightfully overcollected by the government.
From the way President Obama and Democrats talk about taxes in America, you’d get the idea that our problem is that we aren’t taxed enough. Yet, according to the CBO, tax revenues are on pace to hit an all-time record this year. The...
Corporate America and Wall Street are engaging in a form of horse trading - tax cuts for jobs. There is one small problem: temporary tax cuts rarely result in new jobs and always result in less tax revenue.