Well, that’s how our pal Corzine feels. In a total surprise, tax revenues for October were in the tank.
Corporation business taxes were off by nearly 16 percent from the administration’s projections, and income taxes by 14 percent. The sinking fortunes of banks and the housing industry prompted the financial institutions tax to drop 55 percent, and the realty transfer tax 38 percent, below projections.
And the unions are looking to pitch in:
“We told him in no uncertain terms that at a time when consumer spending is plummeting and undermining the economy, that laying off middle class wage earners or postponing their pay increases was exactly the wrong direction to go in,” [Bob} Master (of the Communication Workers of America) said.
What a guy, that Masters. He’s looking out for, um, well, his members. My favorite was this ready-for-captioning picture: