DOW closes above 13000 for the first time...

[Kytro]

The market on average rises, at least it always has.

[6SpeedTA95]

Originally Posted by Kytro

The market on average rises, at least it always has.

Yes you're exactly right since 1903 the market has averaged 12% a year.

[RMNIXON]

More Good News:


WASHINGTON (Reuters) - U.S. tax receipts from individuals hit a record one-day high of $48.7 billion on April 24, a Treasury Department official said on Wednesday.

The previous record was $36.4 billion, set on April 25, 2006, said Jennifer Zuccarelli, a Treasury spokeswoman.

The record reflects taxes not withheld from individuals over the course of the year, but paid to the government before this year's April 17 income-tax deadline.

While some of those tax payments come from taxpayers who withheld less tax from their paychecks than they owed, much of it was owed on income from investments or profits.

"This reflects the fact that Americans in high-income brackets had a very good year in 2006," said Lou Crandall, chief economist at Wrightson ICAP in Jersey City, New Jersey.

The one-day total is a small fraction of the estimated $2.5 trillion in overall tax receipts the government is likely to collect in fiscal 2007, Crandall said.

But strong tax revenues point to the likelihood of a shrinking budget deficit, he said.

[6SpeedTA95]

Shrinking the deficit is fantastic news. We're quickly approaching the break even point and who knows perhaps by 2010 we'll be there

[Donkey®]

Now if they could just start collecting taxes from the business sector like they should.

[6SpeedTA95]

Originally Posted by Donkey®

Now if they could just start collecting taxes from the business sector like they should.

you mean like they have been?

[Donkey®]

Originally Posted by 6SpeedTA95

you mean like they have been?

Yes because that graph shows all the non tax paying contractors getting government contracts EVEN AFTER not paying millions in back taxes.

[RMNIXON]

Originally Posted by Donkey®

Yes because that graph shows all the non tax paying contractors getting government contracts EVEN AFTER not paying millions in back taxes.

You are more than welcome to document your claims.

[Donkey®]

Originally Posted by RMNIXON

You are more than welcome to document your claims.

Thought it was a well known problem?


GSA - Thousands of Civilian Agency Contractors Abuse the Federal Tax System with Little Consequence