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Arthur Laffer: ?Tax Hikes and the 2011 Economic Collapse: Today?s corporate profits reflect an income shift into 2010. These profits will tumble next year, preceded most likely by the stock market.?

By ADF Alliance Alert

Arthur Leffer writes at the Wall Street Journal: "Consider corporate profits as a share of GDP. Today, corporate profits as a share of GDP are way too high given the state of the U.S. economy. These high profits reflect the shift in income into 2010 from 2011. These profits will tumble in 2011, preceded most likely by the stock market . . . The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet . . . "

Full post as published by Constitutionally Correct on June 10, 2010 (boomark / email).