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.


click for ginormous chart


via Jake at Econmompic


OPEC Revenue Exceeds U.S. Income Tax Receipts: Chart of Day
Peter Robison
Bloomberg, Aug. 15 2008

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