In the third quarter, and this was with the benefit of a 3.6% lift in property taxes (amazing), tax receipts at the lower levels of government fell 7% in Q3 from a year ago. Sales taxes are down 9% (seems just a bit at odds with the retail sales data, no?) and income taxes off 12%. If that is what a recovery does to fiscal finances, imagine what the backdrop will look like if the economy actually does pull a ‘double dip’.”

Via Business Insider