Some Afternoon Confusion
Can someone please explain to us what the nature of this post is: “Zero Edge” — Rebutting Faulty Tax Analysis" which appeared today on Barry Rithholtz' blog. We are confused by the whole premise of some guy called called Matt Trivisonno taking offense at our unadjusted and unredacted tax withholdings data, and saying we are misrepresenting something or another. What is more confusing to us is that we have never read anything by Mr. Trivisonno before. Matt, not sure what the problem is - we are merely showing that the Treasury is collecting less money in taxes than it did in 2009. And as for contrarians, we were focusing on the puppets of the government such as Steve Liesman who were making these false claims (at least on an actual cash flow basis - I am sure your adjustments will lead you to whatever conclusion you desire). Period. I am happy to share the primary data with you or anybody else: it is all public and anybody can grab the data directly from the Treasury. If Matt wishes to challenge what the raw data is showing, we are happy to open a forum to him on Zero Hedge. We will post an update on the ongoing deterioration in gross tax withholdings (actual, unrecasted, unmodified or seasonally adjusted) shortly.
That said, we are very amused by Barry's distinction between his blog and ZH. To wit:
ZH is a blogger who covers Wall Street.
I am a Wall Streeter who blogs.
Barry is too kind, although since we cover Wall Street, and Barry considers himself a "Wall Streeter", does that mean we should be covering him as well? Thanks for the heads up! We are lucky that Barry points out what Wall Streeters do: "While he was typing, I was speaking to our clients, doing a Tech
Ticker interview for Yahoo, a radio interview, and then making
arrangements with NBC World News Tonite." So that's what Wall Streeting is? We will make a note.