Monday, August 18, 2008

OPEC Revenue vs. U.S. Individual Income Taxes

Yesterday, we took notice that consumers spent more purchasing fuel for the month then they did on vehicles for the first time since 1982. The result of this shift is rather staggering...

Bloomberg:

The Organization of Petroleum Exporting Countries' export revenue will surpass what the U.S. raised last year in individual income taxes. The cartel's revenue may reach $1.174 trillion this year, edging U.S. personal income tax receipts for the first time since 1980, when gasoline shortages and the Iranian hostage crisis transfixed the country.


Data Source: Reuters

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