Tax revenue to hit record this year. So is spending 'the problem'? ( We will see if economy tanks)

csmonitor.com ^ | March 4, 2013 | By Mark Trumbull, Staff writer

[Ernest_at_the_Beach]

Tax revenue could hit $2.7 trillion, according to the Congressional Budget Office. Conservatives say this means spending cuts are the solution, but the budget numbers tell a more complicated story.

An impasse over the shape of the federal budget keeps boiling down to this basic plotline: Democrats say the solution to high deficits must include more tax revenue, while Republicans say the fundamental problem is spending.

Failure to reach a middle ground has prompted automatic spending cuts known as the “sequester” to go into effect. This wasn’t Plan A, or even Plan B, for either side.

As the politicians look for a way forward, conservative lawmakers say that new budget projections make their case for them. Federal tax revenue is forecast to hit a record $2.7 trillion this year, according to the Congressional Budget Office (CBO).

[Ernest_at_the_Beach]

H/T to the Drudge Report for this.

[Ernest_at_the_Beach]

TAX REVENUE TO HIT RECORD THIS YEAR

[RedHeeler]

What’s H/T, buddy?

[Ernest_at_the_Beach]

Hat Tip,...recognizing where you saw a link to the story.

[BfloGuy]

The number’s not adjusted for inflation. Meaningless. The Democrats use the same trick to claim that Reagan signed the largest tax increase in history.

[TurboZamboni]

"...but the budget numbers tell a more complicated story."

maybe John F'n Kerry or Krugmann can give us serfs a nuanced explanation.