Federal Withholding Tax Collections Are Plunging

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Withholding tax collections have weakened in July, breaking down from the narrow range of 5-6% annual nominal growth they had been in throughout the second quarter. The nominal growth rate declined to +2.4% this week, which is near or below zero growth in real terms, depending on what you believe the inflation rate to be.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today. 

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