Quote:
Originally Posted by TropicCat
Lastly... I posted the IRS collections graph a couple of posts ago. Collections are down 10% from last year. Unemployed people don't pay taxes.
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While I agree with you that the unemployment numbers are at best a clever fiction, this bit about the revenue being down has a lot to do with the loss of capital gains income - when the market tanks people aren't making capital gains anymore and so they don't pay taxes on those capital gains, same for selling houses at reduced prices, etc.