…then why are income tax receipts dropping?
…it is getting worse, on both a week over week, a YTD cumulative basis, and, probably most relevantly to some readers, on a 4 week running bucket cumulative basis. In the week ended April 16, the US Treasury collected $29.3 billion, 10% less than the comparable week in the prior year when $32.5 billion was withheld. Cumulatively, the difference is now at an almost 2010 low, dropping to a $16.7 billion difference between the YTD period and the comparable period in 2009.
If you click on the link, you’ll see a series of graphs which really put it plain – plain enough for even a liberal to understand.
But here comes the liberal mantra: “employment is a lagging indicator”. Ok, so it is – according to the geniuses who tell us that the economy is in recovery, we started getting better six months ago. Granted that employment lags – shouldn’t we see some improvement by now?
Maybe in another six months, huh? Bet our liberals will be telling us in October of 2012 that employment is still a lagging indicator and just wait, if we re-elect Obama, its sure to get better…
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