Wednesday, June 10, 2009

Just-released Treasury Data

AlphaNinja - A quick look at the just released Treasury receipts year-to-date implies that their full year estimates are WAY too rosy.

A look at the treasury's data:

And below is why I think the tax revenue assumptions for the full year are overly optimistic. Individual and corporate receipts down 23% and 61% respectively, yet the full year total expectation is for overall receipts to be down 15%?

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