Neville Bennett, writing in the latest NBR, claims that tax receipts in the US are expected to increase 11.4% this year, despite tax cuts.
According to Bennett "in the 11 quarters since the tax cuts were introduced, the US economy has grown more than 20%. The total pie has expanded $US2.2 trillion, equivalent to the total GDP of China.>
Business investment has increased 37% in the past three years."
These figures are probably "non-standard". I suppose the NBR just copied this townhall story:
ReplyDeletehttp://www.townhall.com/columnists/LawrenceKudlow/2006/07/08/the_big-bang_story_of_us_private_business
But read this: http://instapundit.com/archives/031307.php
and http://www.captainsquartersblog.com/mt/archives/007431.php
So a whooper. But what else would one expect from a journo?