Posted by WARREN MOSLER on May 6th, 2010
Here we go, and this is without additional austerity measures already in progress from the euro zone and other economies:
By Tony Czuczka
May 6 (Bloomberg) — Tax revenue for German federal, state and local authorities will decline by a total of 48 billion euros ($61 billion) until 2014, the Bild newspaper reported, without saying how it got the information.
The German Finance Ministry plans to announce its latest tax-revenue estimate later today.