Trump Covid Casualties – State Sales Tax Collections Dive

 

Ken Zino of AutoInformed.com on April 2020 Sales Tax Collection Down Because of Trump's policies

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The latest data from the US Census Bureau show that most states are losing tax revenue as the economy continues to show signs of a prolonged recession if not depression. This is April data, so it’s just the beginning of the lock-down. Since most states must balance their budgets by law this presents a giant problem for President elect Biden who is inheriting a giant problem and deficit from the Covid-19 denying and welfare for the rich policies of the defeated, vindictive president.

The challenges will exist in the auto industry since vehicle affordability is once again becoming a problem for the working class as the economic carnage continues. Raising taxes on the middle class is not a viable option. A federal bailout or large assistance program for states appears likely. Senate Majority leader McConnell – aka Moscow Mitch – has a sure-fire way to create another great depression – let the states go bankrupt while Trump eats cake- and crow in Mira Largo.

About Ken Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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