It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Federal Income Tax down 20-25%

page: 1
2

log in

join
share:

posted on Jan, 12 2010 @ 03:17 AM
link   
From the Congressional Budget Office Monthly Budget Reviews

www.cbo.gov...

Month .......... % Change in Individual Income Tax Revenue
Apr-09 .......... -24.3
May-09 .......... -22.6
Jun-09 .......... -21.8
Jul-09 .......... - 20.4
Aug-09 .......... - 20.1
Sep-09 .......... - 20.1
Oct-09 .......... - 20.1
Nov-09 .......... - 25.5
Dec-09 .......... - 19.2



Although 20-25% decline in Income Tax does not directly correlate to unemployment, it supports claims that unemployment is higher than published by the DOL/BLS.




posted on Jan, 12 2010 @ 12:03 PM
link   
Nothing to worry about, the government can just print up the difference.

/Sigh I wish that if my income were slashed by 25% I could still spend the same (or even more) and just go to the photocopier to pay my bills.



posted on Jan, 12 2010 @ 12:11 PM
link   
I'm still paying the same in taxes.

U-6 is a much better indication of unemployment and is around 17%. Most people who understand the current situation believe it's closer to 20%.

2010 is going to be worse than 2009.



posted on Jan, 12 2010 @ 12:25 PM
link   

Originally posted by Zosynspiracy

2010 is going to be worse than 2009.


I feel 2009 wasn't all that bad. I have to agree with you that 2010 might be a year to remember. I work at a retail store in downtown chicago, and our sales have been down 20-30% from last year's ugly numbers.



posted on Jan, 12 2010 @ 12:29 PM
link   
reply to post by ddacunha
 


2009 was like any other year for me. But I also wasn't one of the millions upon millions that have lost their job or house. It's not simply the case that 2010 will be worse, nope. It's the fact that another year of economic disaster and chaos is one step closer to the point of no return. That's the scary thing. All the while our government sits on its hands worrying about stupid crap like steroids in baseball or what some lameduck politician says about black people.



posted on Jan, 12 2010 @ 06:41 PM
link   
That 16.5% to 25% drop in income tax revenue makes you wonder what the eventual impact will be to consumer spending.

Consumer spending is 71% of GDP ($10.1B of 14.2B),
www.bea.gov...

Note that during 2009 the GDP numbers show slight increases in consumption (from $10B to 10.1B). I wonder where the BEA gets their numbers from, if it includes monthly payments, or if there's some other reason for latency of current spending to show up in their numbers.



posted on Jan, 13 2010 @ 01:05 AM
link   
reply to post by Dbriefed
 


The increase in consumer spending is directly related to the CARS program run by the Federal Government, and this year a boost in consumer spending in the months Feb-May is expected, as individuals are getting their $8,000 credit from taxes once they file..

US GDP was positive in the 3rd Q due to the CARS program.



posted on Jan, 13 2010 @ 08:57 PM
link   

Originally posted by Dbriefed
From the Congressional Budget Office Monthly Budget Reviews

www.cbo.gov...

Month .......... % Change in Individual Income Tax Revenue
Apr-09 .......... -24.3
May-09 .......... -22.6
Jun-09 .......... -21.8
Jul-09 .......... - 20.4
Aug-09 .......... - 20.1
Sep-09 .......... - 20.1
Oct-09 .......... - 20.1
Nov-09 .......... - 25.5
Dec-09 .......... - 19.2



Although 20-25% decline in Income Tax does not directly correlate to unemployment, it supports claims that unemployment is higher than published by the DOL/BLS.




Is this a chart that shows how much money has been brought in???? If I understand that right....

and if so ..then no wonder... with high unemployment and all not likely to change anytime soon.... what does obama expect???



new topics

top topics



 
2

log in

join