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Drew I would also like to see your comments on the deficit.  

But just to disect your comments a little:

the Journal says revenues rose by -- what? -- 76% over two years?  The economy certainly has not grown by 76% since 2004.

But what the WSJ said was

One place it has come from are corporations, whose tax collections have climbed by 76% over the past two years thanks to greater profitability.
I imagine you actually didn't see the WSJ article.  As you can see, the article says corporate tax collections rose by 76%.  Corporate profits are far different, as you know, than the growth of the economy.  Corporate profits are still growing very nicely off of the very low levels of 2000--2002, and you profit growth or decrease often differs dramtically from overall GDP growth.
by wchurchill on Sun Oct 8th, 2006 at 01:15:01 PM EST
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have been artificially inflated in the past 2 years by a temporary provision which taxed at a much lower rate repatriated profits. A number of US corporates have taken advantage of this clause to bring back significant amounts of money form their foreign subsidiaries - even taxed at the lower rate, this has boosted corporate tax massively.

This will not be repeated in future years.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Oct 8th, 2006 at 04:38:49 PM EST
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