What Were All Those Cost Revenue Projections Again?

I think we may come up even shorter than this:

…Tax receipts for calendar 2009 will be about $2.04 trillion. That’s down about $530 billion, or 20%, from calendar 2008 (after adding back that year’s stimulus payments). The steepness of the decline in collections in an economy that contracted less than 4%, and where average employment declined by less than 5%, is proof positive that the “going Galt” phenomenon was very real in 2009.

Let me use a gaggingly familiar repetitive phrase from my favoritest broken record guy: “As I’ve said repeatedly”…so. While what we owe is all part and parcel of their projections, it’s pretty damn hard to sh*t Uncle Sam’s remaining portion of your taxes when you’re unemployed ~ especially if your former employment was of a variable income nature (with your final reckoning/liability calculated/payable at tax time), leaving you with a hefty wad o’cash due. Where do you come up with Caesar’s tribute?

Not to mention what 14 million plus people unemployed/under-employed will now do for 2010’s receipts.

Good luck projecting that.

2 Responses to “What Were All Those Cost Revenue Projections Again?”

1. JeffS says:

   January 6, 2010 at 7:56 pm

   “Let me be perfectly clear….”

2. Greg Newsom says:

   January 6, 2010 at 9:58 pm

   The most amazing stat I’ve heard from experts is that 60%
   of those now unemployed will never be recalled to their previous company.That is calamity-Please don’t call me
   Jane.We are in a depression-