Sunday, February 7, 2016
IRS computer glitch a problem.Throws economy into peril. Stock market could be looking at fresh lows
The IRS computer glitch that occurred 10 days ago is a problem. Tax refunds are not going out. Spending has dropped down sharply versus last year. It had been up, modestly, but now it's fallen off and it's not obvious that the economy can handle any gov't spending pullback now when people are really on the defensive. Data from the Daily Treasury Statement does not show tax refunds picking up very much. Stock market could be looking at fresh lows.
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2 comments:
http://abcnews.go.com/Politics/wireStory/irs-computer-problems-shut-tax-return-file-system-36700505
"While the IRS said it is still assessing the scope of the outage, it expects 90 percent of taxpayers will receive refunds within three weeks."
Hey take your time.... ?????
One more reason to radically lower taxes, simplify the tax code and downsize the IRS so people keep more of the money they earn.
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