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I blame the Bush tax cuts
Via Bros. Judd:Government Hits One-Day Tax Revenue High After totaling it all up, the Treasury Department announced Thursday that it had collected $61 billion on Wednesday. That surpassed the old one-day record of $56 billion set on Dec. 15, 2000. The bulk of the revenue — $49 billion — came from corporate tax payments, also a one-day record for such receipts. The old mark was $46 billion set last Dec. 15. Wednesday's date, June 15, and Dec. 15 are both deadlines for corporations to make quarterly tax payments. The government's coffers have been swelling this year as tax receipts from both individuals and corporations have been on the rise, reflecting an improving economy. Because of those increases, this year's federal deficit is expected to fall to around $350 billion, down from the $413 billion record in dollar terms set in 2004. Posted by: anonymous2u 2005-06-17 |
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