"Whoa! The cat is out of the bag! Revenues are soaring, but they still lag behind economic growth. So those poor folks who rely on the Times for their news are now in on the secret. And once the Times starts spilling secrets, it's hard to stop. Another fact that may be news to the Times' readers comes tumbling out:Yes, it would appear that a big league education doesn't even buy crap for brains anymore -- at least in the journalism
[ Begin NYeT ADD drivel -ed. ] One reason for the increased volatility [in federal tax revenues] may be that a large share of income taxes is now paid by the nation's wealthiest families, and their incomes are based much more on the swings of the stock market than on wages and salaries. About one-third of all income taxes are paid by households in the top 1 percent of income earners, who make more than about $300,000 a year. [ End drivel -ed. ]
I'm puzzled. How does the Times reconcile those facts with the "tax cuts for the rich" mantra that it has repeated hundreds of times in opposing the administration's tax policies? A regular reader of the paper may be feeling a little disoriented by now. "
Saturday, July 08, 2006
Today's A.D.D. NYeT update:schools cesspools.