Seems like the Treasury cash account might run out sooner than Yellen originally modeled amid this debt ceiling impasse.
Here in tax season, rather few people have 2022 capital gains taxes to pay.
Discussion
Only the dirty oil companies made me money last year. Gotta love ‘em!
Woops
Don't worry, it's transitory.
Almost like the IRS new they’d need more agents to focus more on the earned income from us working stiffs
‘How the treasury went broke’- Lyn Alden
Tax receipts will be lower than expected this year since IRS extended due date of payments for most CA residents until Oct 15th
NY residents have been extended until May 15th
That’s two major state economies right there
Taxpayers have to pay estimated taxes ahead of time anyway, no? Lots of people are getting tax returns in April/May. So it's not like treasury can hope for some extra taxes *now*.
Silly question Lyn, if the FED is running negative, where does the money come from to pay JP's salary, etc? Do they "borrow it" from themselves and add the negative liability to their balance sheet? Isn't that QE then?
Fantastic controbution as always.
Dear Lyn, dear followers: can you please suggest more people to follow who are on Nostr and provide value, especially in the financial sector?
I want to move to Nostr, but am currently solely following Lyn (which is already a lot!).
Brrrrrr
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