Storm Clouds: Avoiding Layoffs
Because we are in the middle of a US Presidential election, I feel compelled to start by saying that what I am about to write about at the beginning of this article is not political.
It is data offered by the government.
If I were to tell you that:
Personal income tax receipts are down by 11%
Corporate income taxes are down 16%
Excise taxes are down
State income tax revenues increased by the smallest amount in several years
U.S. state personal income taxes fell sharply in the key revenue month of April due to lower investment returns from weaker equities and energy prices in 2015
Federal income tax revenue fell 17% in June
Job openings fell by 345000 in May 2016
There is inflation adjusted negative wage growth
|