Surprise, surpise

On December 8, 2005, Secretary of The Treasury John Snow delivered his "Prepared Remarks to PricewaterhouseCoopers’ 2005 Global Tax Symposium."

"In just the last week, we've learned that GDP growth was a robust 4.3 percent in the third quarter. That's strong growth for any time, and it happened when the country faced devastating natural disasters."


"We also learned on Friday that 215,000 jobs were added to the payrolls in November. Job creation is the reward of strong economic growth, and November's employment report brings the total of jobs created since May of 2003 to four and a half million -- with 1.8 million new jobs created this year alone."


In today's surprising New York Times article "Surprising Jump in Tax Revenues Is Curbing Deficit" there is a fleeting reference to the fact that "contrary to a popular assumption, a disproportionate [emphasis mine] share of income taxes is paid by wealthy households"--something that runs counter to the prevailing "wisdom" on the left--and, as the sharp Power Line analysis of this article points out, this chart (see below) that John Snow also presented last December directly contradicts the Times' statement that overall revenues have "barely climbed back to the levels reached in 2000."


"But that's not the Times' only blooper," states Power Line's John Hinderacker!

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