WASHINGTON (AFP) - The projected US budget deficit unexpectedly has shrunk by some 100 billion dollars, thanks to an increase in tax revenue from corporations and wealthy Americans.
This demonstrates that the state of the economy means nothing to large corporations and the wealthy, as they're both making plenty of money. So much so, in fact, that despite lowered taxation brought about in the Bush era, they're paying an enormous amount in taxes. Of course, this isn't that surprising because with big oil making record profits, we expect them to be paying record taxes too. It's nice to know that not all that revenue is lost to loopholes.
The lesson here is: taxes can be good. If we had more of them, there might not be a deficit.