Bush Polls Down, Tax Revenue and Economy UP
Call it 'disconnect'. Two headlines from today's dailies. President Bush's approval ratings are in the tank.. at 31%. Thirty-nine percent say the Operation in Iraq was a bad idea.
But wait, on the same day, the Stock Market is ready to burst to record highs, tax revenues are exploding at the Federal, State and Local levels. Tax revenues exploding while tax rates are down.
From the WSJ: "The latest evidence is Treasury's monthly budget report for May that tax receipts were up by $137 billion, or a remarkable 11.2%, for the first seven months of Fiscal 2006 through April. That's more than triple the inflation rate. And it comes on top of the $274 billion, or 14.6%, increase in federal revenues for all of Fiscal 2005, which ended last September 30.Reduced tax rates due to President Bush's key campaign early in his adminstration to lower taxes and keep his promise to the voters."
And in Iraq, they have a strong consensus Prime Minister, the country is rebuilding, and the insurgents seem to be accepting a stalemate at best.
I call it Disconnect..






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