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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: 1653
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. (1 image)

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Begin Trace Mode for Comment # 5.

#2. To: All (#0)

Nebuchadnezzar  posted on  2010-03-02   1:09:57 ET  (1 image) Reply   Untrace   Trace   Private Reply  


#3. To: All, War, Brian S, Go65 (#2)

No comment from our resident Obama defenders?

Oh, too busy with all the pumping. I get it.

Nebuchadnezzar  posted on  2010-03-02   13:24:04 ET  Reply   Untrace   Trace   Private Reply  


#5. To: Nebuchadnezzar (#3)

No comment from our resident Obama defenders?

this isn't surprising given the tax cuts enacted last year by the Democrats.

go65  posted on  2010-03-02   13:51:20 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 5.

#6. To: go65 (#5) (Edited)

Didn't some sort of change in witholding go into affect as well?

war  posted on  2010-03-02 13:56:09 ET  Reply   Untrace   Trace   Private Reply  


#7. To: go65 (#5)

Demonstrating once again, Being A Democrat Means You Ignore REALITY.

(laughing)

Badeye  posted on  2010-03-02 14:28:00 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 5.

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