Wednesday, May 12, 2010

Scary Federal Tax Withholdings
Zero Hedge Reports on April's Tax Receipts:

"Tax receipts down 7.9% YoY, Individual Income Tax down 21.5% YoY, and more importantly, spending: Total spending up 14.2%, National defense up 17%, Medicare up 39.4%, Social Security up 4.2% and General Government up 5.6%."

I cannot authoritatively confirm their data but the site is usually very careful about what they publish. I think the plummeting income tax is very concerning, as is the skyrocketing military (aka "WAR") spending...

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