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IPFS News Link • Obama Administration

Where's My Economic Recovery?

• The Market Ticker
 Income tax revenues were also off big, but remember that income taxes are (usually) progressive, so a loss in income translates into a larger drop in tax revenues (as an aside this, my friends, is why "tax the rich" only works when the rich are getting richer - when they start to get poorer as a consequence of your redistribution schemes and move down the tax ladder, your income tax receipts collapse!) while sales taxes are a straight percentage of sales, often with the only exception that would skew on an income basis being food.

1 Comments in Response to

Comment by Lola Flores
Entered on:

 I have an idea that if you stopped posting trash on Obama and instead devoted some time to looking for a job, even your economy recovery wouuld come.

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