States Lost A Quarter Of Income Tax This Year
"Personal income-tax collections, which account for about 36% of state revenues, dropped 26% in this year's January-April period." Hence in part why some of the ten states that must finish their budgets tonight may not. Ha, well, I didn't pay mine!
Legislators in Washington State keep bringing up the spectre of a state income tax until their lives are threatened and then the whole thing goes away for another couple of years. Rinse and repeat.
It's OK. Until you make a profit, you only count 3/5.
So that means that the labor force is off by about a quarter when it comes to labor-for-salary output? Or better put, that 26% is roughly the amount of working hours the entire labor force lost in a year's time? (some of that is hourly cuts, some of that is layoffs and RIFs)
Okay, so when you say unemployment is hovering around 10%, I believe you!
You know what would also be a funny comment? Something about how who cares about losing "a quarter." GET IT??
Fuckers (NY State) owe me $$$ – get your shit together already!