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Tax Collection Bubble Rages On in June
Friday, June 12, 2015 14:35
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wallstreetexaminer.com / by Lee Adler •
Withholding tax collections continued to grow at a strong pace through the period ended June 10. The annual growth rate has hit a plateau around +6% after accelerating for a couple months in the normal 3-4 month cyclical pattern. The peak of this cycle is due this month.
Total tax collections in May rose by more than 6% versus last year in spite of one less weekday this year than in 2014.
There’s nothing in the data to indicate any shift in the trend of the US economy. We have repeatedly seen the seasonally adjusted headline numbers understating the economy’s actual growth rate for several months.
The post Tax Collection Bubble Rages On in June appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/06/12/tax-collection-bubble-rages-on-in-june/
