House of Paine

tax holiday gout busts deficit

yes 
     a 90 billion flood
              of
      "unanticipated" receipts 
            has indeed  created
                a nice  back  stroke 
                              of 
                    federal  deficit  reduction 

  now watch 
  the bushery ride this 
                    

                   " one off wonder"
                                              
                                like its 
                                          the dawn 
                                 
                                         of a new high tide  

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  well  so what if they do....


 fairs fair

clintox 
   got an artificial boost 
  from his own 
          donor pay back
                     wealthy guy tax cut 
              in fact                    
                

                    that cut  gave him 
                          a  4 year boost 
                                        in revenue
                      and a indian summer 
                                of surpluses
            
   and sure enough
  the whole  revenue boom
             nicely went bust 
                right in 
               court  appointed  george II's 
                                           lap 
                                 

---------------------------------------------------------
 so whats up now

 with this latest  installment 
    of 
       the  big shot revenue flux ?

-------------------------------------

first some back ground generalities 

all profit streams produce 
           tax revenue
            one way .....
                     with discretion 

  the wally boys
     see to it
        they're taxed only 
          at timed events 
                 of their own choosing 

            times  like 
                     formal  asset  sales
                         legal death notices  
                             and 
                            other  such  plagues
                                  miraculous   
                                        and  
                                  accounting jubilees
                                   as kongress and 
                                        calvin's jehovah 
                                          from time to time  allow 


 " revenues from  gains 
        and other profits 
          are a wild bronk to ride "
                       mario cuomo 

----------------------------------
yup

and thus
  this recent 
         and  suddden freshet 
                of  tax receipts
                  from discreet declarations
                       went
                           un-forecasted 


( though 
    quite obviously
   waiting  there
            in the cards:

seeing as 
        the elephant kongress
           gave  the top hats
                  a one time only 
                    fiddle faddle  window 
                    to throw their loot 
                                  thru this year )


-----------------------------------

but more to the point
if you be a humble job  serf 
livin on a  weekly wage check  

the  otherwise 
          even larger
        deficit floods  
                  are  
               heavily  caulked
                       year after year 

                by 
              the  oft forgotten
                         great  reagan 
                               pay roll heist

          but more on that later .....




here are the  income tax numbers (in bills) 

                             fisc 04            fisc 05
 personal income tax            600            700

 corporate income tax           140             200


   the  total diff                    160 bills 

            

                u can  figure 
                     about 90 bills
                        of this 
                    werethe result
                          of
                  "discretionary declarations"
                   and thus
                         zip zip zip
                         we have bushery getting
                                 a pleasant little lift


               a  temporary lift of course 

             but  containing enough 
               "hoped for deliverance"
               to facilitate
                  projective   nonesense 
                            of the usual
                             polly anna 
                                   sugar shack 
                                       variety

                               to carry the bushery  con line 
                                     well  out beyond 
                                          its   regulation
                                         five year look ahead 


yes the new deficit projects  out nicely 

using a  simple 
       fools gold  linear dynamic

 george's uncle Sam
              can expect 
                to collect 
             90 bills extra 
                     each of the next 5 years 

            and that amount 
             of  good news 
                    may well help 
                  get wally world's 
             recent 
              wealth and profit tax cuts 
                                made "eternal" 

    
                 errrrh 

            if thats what wally world 
                still wants of course....
                 
       -------------------------------------

as to the  great Reagan payroll heist


well 
thats  now  running  
                    a surplus
                               of 175 bills per year 
         
          (  not counting  t-notes
                    paid as  interest 
                on the accumulatied trillions
                              already in 
                             the   thieves  swag )  


               so really if you do the sums 
                             

          they  come  out
                     like this
  

            official 04 
                 deficit projection
                                    for 05 
                                
                           430 bills

   but in comes
         90 bills in un-anticipated .....
                 
             and so
 
            uncle has
                 a real  05 deficit 
                             of 

                             340  bills


          but now add back in 
             "the heist"

    and uncle's
          back up  over  500     

             or 
             well into 
                 the red lite range 
                            for deficits
                                 as a percent of GDP  


now lets play ahead here some


  assume  now
           bush 
       gets the  eternalization 
                    of his tax cuts 

  and yet
         the corporations 
          over the next few years
         declare less gain 
       then  bushites
               now 
               so brightly anticipate 

                                then

                             bonk

the deficit hits  ?????  billions 

        and 
             by election 08
                 when 
            the  Hill 
               faces off 
                  agin
         the manchurian cactus  

                   in
  THE SCRAP  OF THE CENTURY

    the whole contest
      will
 be  all about

  the dangerously huge
              yearly 
               bulge rate 
                      in  big SAM's 
                               federal DEBT BELLY  



lets hope so

 cause wouldn't it be nice

  
so so nice 

      if we  all have  
             a  rendez vous
                          with  global catastrophe 
                        waitin out there for uz

              a dooms day impact  

                      a  deadly
                           end game 
                   for all   civilized  earthlings


                    hey
           maybe its been sighted already

               maybe 
                  those wizzards 
                            on wall street already know 
                 
                      maybe 
                      even as u read 
                  this  'umble squib 
                      a huge financial asteroid
                         is tumbling thru 
                               darkest remotest 
                                   economic space
                                  headed right for uz ......
                                     

                                      


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