Digging into US data anomalies: micro-businesses + tax avoidance - Excerpt from VP February G3 Leading Indicator Watch
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This post is an excerpt from our February 9, 2024 G3 Leading Indicator Watch report to VP clients. The full length, original report can be viewed here. US fiscal: deficit may have been larger than intended last year In our Feb Macro Snapshot, we flagged the very strange divergence between low US tax receipts on production and high nominal GDP growth. US personal tax receipts were also abnormally low, likely due to new business applications to take advantage of Covid tax policies.
Digging into US data anomalies: micro-businesses + tax avoidance - Excerpt from VP February G3 Leading Indicator Watch
Digging into US data anomalies…
Digging into US data anomalies: micro-businesses + tax avoidance - Excerpt from VP February G3 Leading Indicator Watch
This post is an excerpt from our February 9, 2024 G3 Leading Indicator Watch report to VP clients. The full length, original report can be viewed here. US fiscal: deficit may have been larger than intended last year In our Feb Macro Snapshot, we flagged the very strange divergence between low US tax receipts on production and high nominal GDP growth. US personal tax receipts were also abnormally low, likely due to new business applications to take advantage of Covid tax policies.