This is off topic, but I thought it might be interesting to anyone following the debate about income tax rates. The graph shows that income tax revenues rose about 50% following the full implementation of the Bush tax cuts in 2003. While associations do not prove cause and effect the data show that it is possible to lower taxes and have increased federal revenue. In 2007 income tax receipts were the highest in the nation’s history. These data are useful in assessing whether our federal deficit is the result of too little income or too much spending. Make up your own mind.
Back on target, my review of the repeat telecast of Don Pasquale from the Met will be posted shortly.
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