2010-09-02blogspot.com

The "improvement" in personal income taxes was a mirage caused by California speeding up collection of personal income taxes. California required payment of estimated taxes before money was even earned! Ignoring California, income tax collections actually declined from a year ago.

Much of the improvement in sales taxes is a result of tax hikes, not increased sales. Those effects will soon wear off in year-over-year comparisons (assuming of course there is not another round of sales tax hikes, by no means a good bet).


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