Corporations and the wealthy contribute to the well-being
Looks as though the American economy is improving and the deficit is shrinking! Much to the chagrin of our resident doomsayer(s).
From TODAYonline:
The projected US budget deficit unexpectedly has shrunk by some 100 billion dollars, thanks to an increase in tax revenue from corporations and wealthy Americans, a US newspaper reported.
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The White House is on Tuesday to release figures showing the budget deficit to be about 100 billion dollars less than projected six months ago, the New York Times reported Sunday.
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An administration official contacted by AFP would not comment on the story Sunday.
Corporate tax receipts, as well as those from the affluent Americans, is expected to exceed last year's by some 250 billion dollars, the Times wrote.
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The daily reported that tax revenues rose about twice as quickly as budget officials in President George W. Bush's administration had anticipated. -- AFP (bold added)
Just in case you think that this is one right-leaning report among a bunch of reports of the actual impending economic doom, please note the related links, from no friends of the Bush Administration:
International Herald Tribune, France: Link
Hong Kong Standard: Link
Los Angeles Times: Link
CBS Marketwatch: Link