State revenues plummet 16 percent in September

Georgia’s revenue collections fell another 16 percent in September, compared to the same month a  year ago, as the state’s three main sources of tax income continued to bottom out.

It is the 10th consecutive month of declining revenues.

For the fiscal year, which began July 1, state revenue is off 14.2 percent, compared to the first three months of the previous fiscal year.

The biggest drop in September came in individual income tax collections, which were off 14.2 percent compared to September 2008. Corporate income taxes were down 13.2 percent and sales and use taxes were off 11.4 percent.

10 comments Add your comment

William

October 8th, 2009
4:08 pm

Yep and as long as you keep supporting those who will not look for work it is going to get worse!

norman

October 8th, 2009
4:37 pm

The gospel according to William!

Karl Marx Jr.

October 8th, 2009
5:32 pm

I hope all the welfare money for the negroes and white trash runs out soon.

Karl Marx Sr.

October 8th, 2009
5:37 pm

Shut up son! My scheme is working exactly as planned.

jdawg

October 8th, 2009
6:39 pm

can you spell CASINO…they have all the answers in Atlanta at the Gold Dome…..

Foundation Donor

October 9th, 2009
7:56 am

Perhaps it would help if taxpayers and Foundation donors required legislators to make the Board of Regents of the University System of Georgia accountable for their years of abuse of our tax dollars and donations,
Link to full story:
http://www.atlantaunfiltered.com/2009/10/05/university-execs-deferred-pay-often-hidden-tops-7-million/

Zeb

October 9th, 2009
9:13 am

Georgia has a 20th Century economy built on endless uncontrolled development, road building, and low-paid construction jobs. That’s why we’re suffering more than most states with higher unemployment and lower tax revenue. We need a 21st Century economy. Light rail, high speed rail, maglev, solar power, LED’s, wind turbines, research and development of new energy, transportation, information & medical technologies. But our leaders are good ol’ boys stuck in the ’50’s. Their idea of progress is to bulldoze communities and scenic places to make more roads, while the rest of the world is already building elegant high speed rail and cleaner, wiser and more energy efficient industry.Georgia is slipping further and further into the backwater of history.

ugaaccountant

October 9th, 2009
4:38 pm

Most of your “21st century economy” list is 20th century technology that would not be cost effective. I’d be all for 21st century technology but let’s not go around building “rails to nowhere”.

Base

October 9th, 2009
10:25 pm

The Sorry Sonny economy moves on down. His grand plan is to do nothing but to give tax cuts to movies.

Zeb

October 10th, 2009
11:05 am