What deceptive commentary. First, the chart attached to the linked article is for total federal revenue, not federal income tax revenue. Second, the chart contains gross numbers (nominal revenue) and not inflation adjusted numbers (real revenue). etc.Real total federal revenue (in 2005 dollars):2007 - $2,414.0 billion2008 - $2,228.1 billion2009 - $1,899.0 billion2010 - $1,927.9 billion2011 - $1,998.7 billion (IOW, real revenue is still off by over 17%)http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Doc...Nominal FIT:2007 - $1,116 billion2008 - $1,032 billion2009 - $ 866 billionhttp://taxfoundation.org/article/summary-latest-federal-indi... See Table 4Adjust for inflation, and the decline would be even bigger.Regards, JAFO
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra