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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (17948)2/28/2004 1:52:13 PM
From: Lizzie TudorRead Replies (2) of 306849
 
Check this out though:

CBO historical budget data- individual income receipts and corp taxes, by year.

2000 1,004.5 207.3
2001 994.3 151.1
2002 858.3 148.0
2003 793.7 131.8
cbo.gov

2001 and 2002 was a recession. But the fact that 03 shows receipts still declining in what is supposed to be a "booming economy" (according to supply side economists) means incomes are still declining, rather dramatically. Corporate taxes are still declining, but we know from S&P that corps are more profitable now than in the past. The problem is that various tax loopholes (including moving offshore) means less revenues.
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