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| "Withholding tax deposits continue to gently slide. It appears that small businesses are being hit somewhat harder than larger ones (based upon weekly rather than monthly or bi-monthly deposit days). The HI portion of SS paints a much grimmer picture than does withholding. The Q2 YoY comparison shows -6.24% against the Q1 decline of -5.72%. Annualized and expressed in dollars, that's around $500 billion that is not available to spend.
I believe the final Q2 revision will bring it under 1% and we're currently on track (with a month to go) for a negative Q3." | |
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GDP numbers.
