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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 422.21+1.9%Jan 12 4:00 PM EST
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To: elmatador who wrote (35383)6/3/2008 2:08:40 AM
From: TobagoJack  Read Replies (3) of 219281
 
still on bali

just in in-tray

Just finished tabulating the US Tax Witholding receipts.
Note: I'm looking most closely at trends via the 6 month aggregate rolling numbers, as there is too much noise in shorter duration figures.

Observations:
1 - Tax receipts are much slower than reported inflation and way behind growth in Government Expenditures. Bad for the US Budget Deficit.
2 - While the US consumer's paycheck is growing, the growth has slowed precipitously, and has now fallen behind inflation.
3 - Non-Individual Tax Receipts (basically corporate taxes paid) have completely collapsed in the past 2 years, going from 24% y-o-y growth to negative 3% growth.
Obviously skewed as homebuilders and banks are not paying any tax and asking for refunds, while oil companies are paying out the wazhoo....

Any thoughts or observations here?


PS - Any reason why we wouldn't see IPO's on the retail portion of oil companies? Net that out, and the oil companies have very little revenue or income from US operations.
Given the new bill going through the Senate at the moment, it appears that success is going to be taxed, period. Last year it was the Private Equity firms, this year the oil companies, who will be the target next year? I see no real reason why oil companies shouldn't think long and hard about redomiciling to a more tax friendly environment - Kuwait, Dubai, Singapore, Hong Kong.....
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