Third-quarter tax revenue for state and local governments was down 6.7 percent through Sept. 30, marking the fourth consecutive quarter of decline.
Tax revenue in this year's third quarter totaled $266.5 billion, compared with $285.6 billion reported for the third quarter of 2008, according to the U.S. Census Bureau. Revenue has been dropping as the recession cuts into tax receipts from corporate earnings, personal incomes and sales.
In Florida, general sales tax revenue fell 8.2 percent in the third quarter, compared with the same period in 2008. Corporate net income tax fell by 11.1 percent.
Nationwide, general sales tax revenue in the third quarter was down 9 percent. Individual income tax revenue declined 11.7 percent, and corporate income tax revenue dropped 18 percent.
Property tax revenue was the only one of four main tax categories to rise, climbing 3.5 percent nationwide as changes in real estate assessments used to set tax rates trailed declines in market prices.
LINK HERE
I still think the Bernie from Weekend at Bernies analogy really hits the nail on the head. The hitman that keeps killing Bernie is the Fed, but Bernie somehow keeps moving around.
ReplyDeleteGeezus H. Christ. USA Today picked Bernanke as a top winner and hero today! What a sad corporate comedy:
ReplyDeleteIn January, you're the nation's beleaguered top banker, spending trillions of dollars in a frantic effort to avert a depression. In December, the Senate is poised to confirm you for a second term to head the Federal Reserve and Time magazine names you Person of the Year.
Ben Bernanke: Winner.
Another killer headline. I used to watch old cartoons for cheap laughs:
ReplyDeleteGood riddance, 2009! Revelers eager for new year!
They are eager for their unemployment check, starvation, humiliation, -0- bank account, home invasions, false flags, panic, or worse, trip to FEMA camp.
ReplyDeleteAhh the sheeple. Their apathy is finally going to catch up with them.
This blog gets a visitor about every 15 seconds and then they run away!! LOL!!
ReplyDeleteBLA BLA BLA
ReplyDeleteLife goes on folks, nothing to see here, the sun will rise and set tomorrow just as it did today
Nice picture next to the headline...5 stars!!
ReplyDelete