Tuesday, August 04, 2009

U.S. Facing Precipitous Decline in Tax Revenue

Today's issue of the San Francisco Chronicle says the "U.S. sees biggest tax revenue drop since 1932." Here are the key numbers:
Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent.


grandma1 said...

Does it seem a little strange all this information is coming out just when Obama is trying to pass a medical bill.

Flee said...

I can't see why they didn't anticipate this. We noticed this right away here in Michigan just years earlier than the rest of the country.

I can't understnad how the republicans can still cry for more tax cuts at a time like this. They have to pay for their war. Imagine if all the money spent in Iraq was spent here for health care and educating our young people.