Tuesday, September 29, 2009

State tax collections continue their slide

AlphaNinja - The US Census released second quarter 2009 tax data today. It's not pretty.

Overall, individual income taxes dropped the most, falling over 27% from the previous year. Sales taxes - less dependent on the volatile top earners than income taxes - were down 9%.

Politicians claiming that states cannot cut spending on "services," or that they must make "investments," are just not getting the picture.

Q2 State Tax Collections

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