Here Is Some Enriching Tax Data

The U.S. Treasury is collecting more in taxes than ever, a sing of the economy's strength.
Never have so many wasted so much time. Photographer: Daniel Acker/Bloomberg

Tax day is almost here, which makes this a good time to look at what the U.S. Treasury's daily tax data tell us about the state of the economy. When the private sector is doing well, the government ends up taking in more money, as it is now. During recessions, fewer people are earning incomes and collecting capital gains, so tax revenue falls.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.