Sharp Rise in Tax Revenue to Pare U.S. Deficit

Good news for America means bad news for the Left.

...an unexpected leap in tax revenue is about to shrink the federal budget deficit this year, by nearly $100 billion.

The big surprise has been in tax revenue, which is running nearly 15 percent higher than in 2004. Corporate tax revenue has soared about 40 percent, after languishing for four years, and individual tax revenue is up as well.