TERRIBLE TAX DATA …
Still riding the wave of economic euphoria from last week’s big jobs print? Yeah … about that.
In addition to some disturbing news regarding Americans’ view of their personal finances, the U.S. Treasury Department just announced that year-over-year tax receipts are rising at an anemic 1.2 percent clip.
By comparison, in June of 2013 they were expanding at a 13.4 percent year-over-year clip.
Here’s a visual aid (with some recessionary trend lines highlighted) from our friends over at Zero Hedge …
(Click to enlarge)
(Chart via Zero Hedge)
“U.S. tax receipts have never done this without a recession,” the website warned, adding that “the last six times tax receipt growth was at this weak a level, the American economy was (already) in recession.”
In other words, batten down the hatches, people …