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Federal Tax Receipts Boom

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Politico: “The Congressional Budget Office said Wednesday it now expects federal revenue this year to jump by a whopping $800 billion — equivalent to the Pentagon’s annual budget.”

“That translates to a 19 percent increase, the biggest one-year hike in more than 40 years, and it comes on top of an 18 percent increase last year.”

“Total receipts will amount this year to 19.6 percent of the nation’s economy, CBO says, which would be the most since 2000 when the Treasury Department was swimming in cash thrown off by the dot-com bubble.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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