OPEC vs US Gross Personal Tax Reciepts

Monday, August 18, 2008 | 07:28 AM

This is a first: OPEC is pulling in more money from oil sales than the U.S. government is raising from individual taxpayers.

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click for ginormous chart

Opec2

via Jake at Econmompic

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Source:
OPEC Revenue Exceeds U.S. Income Tax Receipts: Chart of Day
Peter Robison
Bloomberg, Aug. 15 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDuZLnxkKPGA&

Monday, August 18, 2008 | 07:28 AM | Permalink | Comments (15) | TrackBack (0)
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Comments

The cost to America since 2000: $32 Trillion dollars in total liabilities and unfunded commitments for future payments.

In a speech a few months ago at the National Press Club, former GAO Comptroller General David Walker said:

"If the federal government was a private corporation and the same report came out this morning, our stock would be dropping and some people would be talking about whether the company’s management directors needed a major shake-up".

“The federal government’s total liabilities,” Walker explained, “translates into a de facto mortgage of about $455,000 for every American household and there’s no house to back that mortgage. In other words, our government has made a whole lot of promises that, in the long run, it cannot possibly keep without huge tax increases.”

Posted by: km4 | Aug 18, 2008 9:10:32 AM

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