Thursday, May 10, 2007
Posted by: John Campbell at 3:00 PM

This week, the federal government reported record revenues in April. In fact, more tax money was deposited by the United States Treasury on April 24th, 2007 than on any other day since the founding of the Republic. Revenues for the fiscal year are now up 11.3 percent. That's after they were up 11.5 percent last year. And 14.6 percent the year before that. If I just add those up without compounding, that's a 37.4 percent in the last 3 years. That's pretty darn good. Way over the historical average. Did your salary go up that much in the last 3 years?

So why are the Democrats so determined to raise taxes? Is a 37 percent revenue increase in 3 years not enough? Do they want to increase spending by more than that? Of course they do. There's no other explanation. If we held spending to no increase for next year, the deficit would be gone in one year. There is simply no logical reason to increase taxes with revenue going up so much. But, the Democrat's will likely vote to raise taxes as soon as next week.

Clearly, whatever we send them of our money, it will never be enough.

Please find below a clip of a one minute speech I gave on the floor this morning relative to this topic. It was followed by applause from groups of people in the gallery. To my knowledge, I do not know any of these people and they had not clapped for any of the previous 12 speeches. The speaker immediately gaveled them down since you are not supposed to express opinions from the gallery.

To watch it click here.



View in ascending order View in descending order
Snooper writes: Thursday, May, 10, 2007 3:50 PM
That's a silly question!
It will give the Leftinistra more power over the dumbed-down nitwits that the Leftinistra think we are.

It will give them more access to OUR money so THEY can spend OUR money without our express permissions.

Seeing that most of the boneheads in CONgress are multi-zillionaires, why don't THEY tax THEMSELVES, stop giving THEMSELVES undeserved raises on OUR shoulders and give their OWN friggin' money away?

How about if THEY pay into social security like the rest of us and give up THEIR corporate and golden parachutes?

Oh. Wait. That would solidify and make known their double standard shiite.

My bad.
Tim writes: Thursday, May, 10, 2007 6:07 PM
Semantics, but I think important ones...
If I understood the honorable Mr. Rangel (when he spoke to Mr. O'Reilly last summer) correctly, he wants to raise tax RATES. The recent increase in tax REVENUES the author cites seems to be a direct result to the Republican-led reduction in tax RATES.

One might logically conclude that Mr. Rangel's desire to increase RATES will result in a reduction in REVENUES. So, either Mr. Rangel is a foot-shooting idiot, or his goal is to reduce revenues for the government and the people alike.

I'm thinking he likes to limp.

Either way, I think that this argument would be better served if the author and everyone else who brings it up would constantly and clearly make the rates vs. revenues distinction.
Citizen writes: Saturday, May, 12, 2007 4:36 PM
Deficit
"There's no other explanation. If we held spending to no increase for next year, the deficit would be gone in one year."

Congress is so stupid...
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
 

About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.

Create You Own Blog on Townhall.com - IT'S EASY Search User Blogs on Townhall.com :: Where Your Opinion Counts
Young America
Young America's Foundation
Panel Discussion: Remembering Reagan
Listen Now Listen Now
Click to download Podcast Podcast