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Changes in Tax Collections

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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/22/2009 at 17:18
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Check this out.  You guys think this is maby newsworthy item that should be reported in the news?  Seems pretty important to me.
 
Of course numbers and data is kind of my thing...... so perhaps it is just me.
 
 
Discuss.....
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/22/2009 at 20:15
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Looks like it about matches the unemployment plus the increase in illegals to me. Note when the warmer weather hit in April More illegals will cross the border. Nothing suprising here.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/22/2009 at 21:35
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cite please Ick! I want to be able to forward that some.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/23/2009 at 08:25
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Crap, I thought I put it down there.  Got it from Newsbusters.
 
 
Here are some of my other thoughts......
 
The financial side of my brain has me look at several aspects myself:

1. Like the chart shows, what are the revenues and how are they changing?
Declining or at best, flat?  Who knows what the future holds, but this doesnt' look good.
2. like you said, what are the planned expenditures and how are they changing?
Absolutely astronomical increases in spending far above what any US Government has spent before... including treasure spent on war over the past 8 years that many argue was a waste.
3. What is the current debt and debt load?
Certainly huge, and so is the debt service.  The past mistakes of our country since the mid 90s has been painful.
4. If there are future shortages of revenues vs. expenditures, how will that shortage be financed?
More debt.  If you thought #3 was a big number, just take a look at projections of the defecit now that we have married all this spending in the last 6 months.  We might have started 2009 with a huge debt load, but the debt load that will amass in just the next 2 to 5 years makes that look like a small number.
5. What is the impact of that financing?
Very large debt service costs in the future.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/23/2009 at 09:31
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Ick, there is a debt finance impact you missed, but neglected by most of the reporting I have seen, which will soon kick in to a much larger detriment than I can imagine... INFLATION... Coming soon to a monetary system near you.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/24/2009 at 08:35
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ICK, Ed's BOY

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Yeah, there are some other impacts as we move forward. 
 
Income down
Expenditures up
Debt already large
Debt set to increase substantially
Debt service on that debt set to increase substantially
 
Looks like we need to start a colony on Mars!
 
Like you said, the debt finance impact will pull inflation up..... including the "printing" of money and that impact on inflation as you increase the size of the money suppy.
 
I wonder when China will figure out that their massive US Treasury holdings will be debased by inflation.  Do they even realize the impact of inflation risk on something everyone is convinced is "a no lose investment"?


Edited by Ick - April/24/2009 at 08:39
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/24/2009 at 08:53
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Before the end of the current administration, "US forced into Bankrupcy, China and other foreign investors take control of vast industry and property holdings as determined by the UN Globle finance commitee". US citizens forced into near slave labor conditions.
 
obama made sure we wouldn't recover this time! His agenda is one world gov. I guess he thinks he will get some lofty position by the greatful anti-American populas. He don't realize that puppets make good fire wood.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: April/26/2009 at 23:54
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  I suspect things will get much worse before it gets better.
 
Plant a victory garden.


Edited by Urimaginaryfrnd - April/26/2009 at 23:54
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: September/02/2009 at 04:59
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The way an offer in compromise works is they look at how much you owe, and compare that to have much money you have left over at the end of each month after necessities, add to that the value of any assets, and then see if you have the ability to pay the debt off during the time allowed by law (10 years from the date the taxes were due). If you can pay it off in that time frame, then they will reject your OIC and put you on an installment agreement.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: September/02/2009 at 14:28
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Woah, there is a thread I forgot about.
 
Rachelle.... yeah, TV would have you convinced that the IRS often will "adjust" tax and penalties due balances all the time.   Unfortunately that is often a pipe-dream.  From what I hear they almost never adjust the TAX due, but often limit OIC to only the interest and penalies the IRS tries to assess... the taxpayer still pays 100% of the TAX.
 
Just an update to get back to the topic...... the IRS collections have continued to deteriorate since I posted this in April, which I am sure is no surprise to anyone.
 
...where is that debt clock....
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: September/03/2009 at 18:58
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: September/09/2009 at 14:30
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They will have to disarm us first..... We are still citizens and not subjects. They are fearful of that fact.... Look into the near future (hint swine flu) the fema admin can call an epidemic a cause for martial law, and that can lead to constitutional crisis. Meaning the attempted confiscation of your firearms.  Anyone else up for a fight? As for the gardens, do you really think they will allow you to have something that will provide a way for some self sufficiency? That is a bad thing for the elitists that are running the show. I'm telling ya, get ready for war gents. This current administration is doing just that, and has made damned sure that there is no turning back. 
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