Recession is starving the government of tax revenue; Biggest drop since 1932
Our government is starving for money! This is the real reason for wanting to raise taxes, but how about cutting spending!
Feds see biggest tax revenue drop since 1932
Recession's toll comes as Congress and president try to fund programs
WASHINGTON - The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab.
The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.
Other figures in an Associated Press analysis underscore the recession's impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent. Social Security tax receipts could drop for only the second time since 1940, and Medicare taxes are on pace to drop for only the third time ever.
More:
http://www.msnbc.msn.com/id/32275055/ns/politics-more_politics
See what you get...
For swearing in public! lol
"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." ~ Margaret Mead
Bump for this article.
Down bump for more taxes.