Tax Revenue

Tyler Durden's picture

Greece Gambles On "Catastrophic Armageddon" For Europe, Warns It "Only Has Weeks Of Cash Left"





One of the bigger problems facing the new, upstart Greek government, which has set before itself the lofty goal of overturning 6 years of oppressive European policies and countless generations of Greek cronyism, corruption and tax-evasion is not so much the concern about deposit outflows and bank runs - even though it most certainly will be in the next few days unless the Tsipras government finds some resolution to the dramatic standoff with Merkel and the ECB - but something far more trivial: running out of money.

 
Tyler Durden's picture

China’s Monumental Debt Trap - Why It Will Rock The Global Economy





Needless to say, Greece is only the poster child. The McKinsey numbers above suggest that “peak debt” is becoming a universal condition, and that today’s Keynesian central bankers and policy apparatchiks are only pushing on a giant and dangerous global string. So now we get to ground zero of the global Ponzi. That is the monumental pile of construction and debt that is otherwise known on Wall Street as the miracle of “red capitalism”. In truth, however, China is not an economic miracle at all; its just a case of the above abandoned Athens stadium writ large.

 
Tyler Durden's picture

Here's A Startling Fact About President Obama's New Budget





As politicians know, dead people don’t vote. In fact, politicians today routinely steal from the dead... specifically the unborn. Children that won’t even be born for decades will inherit enormous debts that have been racked up today on drones, bombs, and wars that were waged in our era. President Obama’s most recent budget makes this abundantly clear...

 
Tyler Durden's picture

Invasion Of The "Zombie Crazies"





With the European Central Bank in QE mode, stocks should be catching a bid. Instead, they seem to be following commodities – down. But who knows? The situation is so crazy that only a disabled person could understand it. Why do we say that? Because a report released last week told us that one out of every three people on Social Security’s disability program is a mental defective. In Washington, DC, the rate of nuttiness among the disabled is even higher – 42%. No surprise there. Who better to understand what is going on in the financial world than a crazy person? Fortunately, America’s zombies are going crazy in ever-greater numbers.

 

 
Reggie Middleton's picture

US Companies Report, Imported Unemployment/Deflation Appear Eerily Similar to Great Depression: ALL OUT (Currency) WAR! pt 2.5





US earnings drop materially less than a week after the ECB fires its gun & competing nations only start to react - just like the reaction at the beginning of the Great Depression! Rememberr, this isn' even a shootout yet. Wait until next quarter when the US multinatonals report. Of course, by then it'll be ALL OUT WAR!

 
Phoenix Capital Research's picture

Greece is the Canary In the Coal Mine for the $100 TRILLION Bond Bubble





Greece will be first, followed by the rest of the PIIGS in Europe. Japan is also on the block as will be the UK and ultimately the US.

 
 
Tyler Durden's picture

Seven Decades Of Data Prove This Is A Really Dumb Idea... (But They'll Do It Anyway)





It's a common story throughout human history. There’s almost always an elite, or government, with a ‘scarcity’ mentality that believes in the zero sum game, i.e. for anyone to be a winner, someone else has to be a loser. When they’re short of cash, governments almost invariably raise taxes. Of course, the numbers show that raising taxes rarely affects total tax revenue. There’s a very looooong history which clearly establishes this point. And you’d think that a government would look at the data and recognize the obvious truth: their scarcity mentality doesn’t work. But no. Sadly, in the face of such overwhelming data, the Obama administration is now pushing to raise tax rates once again...

 
Tyler Durden's picture

A New Theory Of Energy & The Economy, Part 1





How does the economy really work? In our view, both energy and debt play an extremely important role in an economic system. Once energy supply and other aspects of the economy start hitting diminishing returns, there is a serious chance that a debt implosion will bring the whole system down. In this first piece of this story, we explain how the economy is tied to energy, and how the leveraging impact of cheap energy creates economic growth.

 
Tyler Durden's picture

11 Facts That Won't Be In Tonight's State Of The Union





When President Obama ascends to the podium this evening to deliver his State of the Union address, he’ll undoubtedly shine a spotlight on the many strengths of America. The real issue, however, isn’t where the United States is today. The problem is where it’s going. And quickly...

 
Tyler Durden's picture

It Begins: IRS Launches International Data Exchange Service





Yesterday, the IRS announced the International Data Exchange Service. If you’ve not heard of it, it’s is an outgrowth of the Foreign Account Tax Compliance Act (FATCA), which requires every single bank in the world to get in bed with IRS to share information about customers. We’ve said this over and over, FATCA is probably the dumbest law in the history of the United States. And we don’t say that lightly, because there’s definitely stiff competition. Like any other bankrupt government, the US government has taken to intimidating its own citizens and the entire world in an attempt to make ends meet. But the fact is that tax revenues actually haven’t improved at all. It doesn’t take a rocket scientist to realize that the rest of the world is one day going to create its own alternative system. One that would no longer rely on the US dollar.

 
Tyler Durden's picture

Which States Stand To Lose The Most From The Crude Collapse





By now, it is no secret that the one state that conventional wisdom expects to suffer the most as a result of the crude collapse is the one state that through the Great Recession was the primary provider of (well-paying) job creation, the same state which is now expected to enter into a full-blown recession.  But is it really Texas that will be impacted the most? The answer, at least according to a recent Pew report, is a resounding no.

 
Tyler Durden's picture

Oil & The Economy: The Limits Of A Finite World In 2015-16





Mainstream Media in the US seem to emphasize the positive aspects of the drop in prices. If our only problem were high oil prices, then low oil prices would seem to be a solution. Unfortunately, the problem we are encountering now is extremely low prices. If prices continue at this low level, or go even lower, we are in deep trouble with respect to future oil extraction. The situation is much more worrisome than most people would expect. Even if there are some temporary good effects, they will be more than offset by bad effects, some of which could be very bad indeed. We may be reaching limits of a finite world.

 
Cognitive Dissonance's picture

Guest Post - Changing the Script





Einstein advised “We cannot solve our problems with the same level of thinking that created them”. Yet that’s mostly what I see happening today on many levels.

 
Tyler Durden's picture

The Keynesian End Game Crystalizes In Japan’s Monetary Madness





If the BOJ’s mad money printers were treated as monetary pariahs by the rest of the world, it would at least imply that a modicum of sanity remains on the planet. But just the opposite is the case. Establishment institutions like the IMF, the US treasury and the other major central banks urge them on, while the Keynesian arson squad led by Professor Krugman actually faults Japan for being too tepid with its “stimulus”. Now comes several new data points that absolutely confirm Japan is a financial mad house...

 
Tyler Durden's picture

The Global Monetary Reset Is Under Way





The Global Monetary Reset is under way, but people have not noticed it yet. The key is the move to zero interest rates.

 
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