I have been looking at the Daily Treasury Statement (DTS) from the Financial Management Service of the US Treasury. This data has always been available for free but it requires some programming skill to parse through the data and make sense of it. I have wanted to track it for several years but have not had the energy to write the code to parse the data. Fortunately, a poster at The Motley Fool started the project which gave me the jump start I needed to implement my plan. These charts are the year over year comparisons of the monthly total of daily statements.
This first chart shows the Withheld taxes that have been extracted from Table IV from the DTS. The amount the government receives from our paychecks has been going down with negative Y/Y growth since last November. The September data through last Thursday shows this month growth below negative 15%.
The Individual taxes represents those taxes sent to the Treasury from individuals not collected by payroll withholding. August was down 25% year over year and the chart is down 35% thus far in September.
Corporate taxes paid this year are down over 30% and have been of the same magnitude since last February.
My take on this real time fundamental data is there is no way there can be earnings growth when the taxes paid to the IRS continue to show negative growth. Companies can lie to you and me, but they do not even attempt to lie to the IRS.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.