In the absense of an actual tax hike, rising tax revenues to the Treasury indicate the economy is picking up. Average daily tax collections in July were $5.7 billion compared to a seasonally adjusted, $5.8 billion in June. July '08 was $6.8 billion.
Tuesday, August 4, 2009
Average daily tax collections still not confirming economic pickup
In the absense of an actual tax hike, rising tax revenues to the Treasury indicate the economy is picking up. Average daily tax collections in July were $5.7 billion compared to a seasonally adjusted, $5.8 billion in June. July '08 was $6.8 billion.
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