Jonathan Weisman reports that “the most dramatic drop in tax revenue since 1946 has put the government into deficit for the next three years and has shriveled the projected 10-year federal budget surplus by 60 percent in just five months.”
Economists appeared to be at a loss to explain it. Crippen merely called it “astounding.”
Let’s face it — capital gains taxes, fueled by the bubble in stock market gains, couldn’t continue increasing forever.
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