Obviously corporations on a fiscal year end filed their tax returns Marc 15. This year. This would be for 2008 income. What tax legislation did Congress pass to cut taxes last year that Obama signed last year? What tax cuts has Obama signe in 6 months and when do those tax cuts go into effect?
Bartlett and Mike both don't know what they are talking about. I know Mike doesn't have the tools to research the drop in tax collections this year.
According to the CBO, federal taxes will amount to just 15.5 percent of GDP this yearWe actually won't have a report on this for another 8 months.
Quote:
WASHINGTON -- The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.
The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.
The release of the update -- usually scheduled for mid-July -- has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town Aug. 7 on its summer recess.
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Cook the books again Obama. Chicago style economics.