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Title: February 2010 Federal Tax withholding plummet (So much for recovery)
Source:
Zerohedge.com
URL Source: http://www.zerohedge.com
Published: Mar 2, 2010
Author: Tyler Durden
Post Date: 2010-03-02 00:12:43 by Nebuchadnezzar
Keywords: None
Views: 1876
Comments: 16
February 2010 Federal Tax Withholdings Plunge To Multiyear Low Submitted by Tyler Durden on 03/01/2010 22:31 -0500 * Federal Tax * Recession February was not an auspicious start to Obama's record budget deficit-busting plans. The Daily Treasury Statement for the full month of February was just released, and it disclosed that while corporate tax withholdings, net of refunds, actually climbed marginally to $3.4 billion from $(3.4) billion in February 2009, individual tax withholdings plunged to a multi-year low of $30.7 billion. Combined, the two items also posted a multi low of $34 billion, less than the previous recent low from February 2009 when the first leg of the Greater Depression was allegedly at its zenith (see chart below). We can't wait to hear how the "recession is over" brigade will paint this particular data point.
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Begin Trace Mode for Comment # 5.
#2. To: All (#0)
No comment from our resident Obama defenders? Oh, too busy with all the pumping. I get it.
this isn't surprising given the tax cuts enacted last year by the Democrats.
#6. To: go65 (#5)
(Edited)
Didn't some sort of change in witholding go into affect as well?
Demonstrating once again, Being A Democrat Means You Ignore REALITY. (laughing)
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#3. To: All, War, Brian S, Go65 (#2)
#5. To: Nebuchadnezzar (#3)
No comment from our resident Obama defenders?
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#7. To: go65 (#5)
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