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Well Hell, Economy

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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)

tax receipts

(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 …

 

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