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State Tax Revenues Down Double Digits

Wednesday, August 12, 2009, 10:17 AM
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Just a few articles below about state tax collections that came out this morning. I caution that this is not a representative sample, it just happens to be whatever came out this morning.

I wish there was an easy way to collect state information but it is only collated by private firms that charge a lot for the information. I don't subscribe to any…so I collect the anecdotes as they come.

The reason I spend any time on this at all is that state tax revenues are among the cleanest economic figures we can get our hands on. Besides giving a more accurate picture of "where we are" (which is far lower than the 1% decline the BLS reported in its highly suspect GDP report) I am counting on state tax revenues to provide one of the better indicators that we've hit a true bottom.

The overall picture? State tax revenues are down by high double digits year over year.

 

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