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Frank P. Cifarelli, for example, couldn't understand how the assessed value of his four-bedroom house could have been reduced from $5,000 to $3,000 and yet his projected taxes showed an increase of nearly $700.
In Philadelphia, revenue shortages -- including projected taxes to be paid based on the athletes' pay -- left a $5 million to $8 million hole in financing new stadiums for the Eagles and Phillies a decade ago.
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The Westchester County Legislature yesterday pared down its proposed 2002 budget, shaving spending and raising revenue projections in order to lower a projected tax increase.
Projected tax revenue is predicated on a large customer base.
It says the total projected tax losses between 2015 to 2020 will be roughly US$13.6bn.
Fletcher complains of "a degree of voodoo economics" in the South Australian government's projected tax take, saying it is not clear on what basis it is calculated.
Mr. Lindsey said economists have long accepted a formula that says for every one percentage point that the economy grows below what was projected, tax revenues decline by 1.4percentt.
The state's borrowing problems come as it deals with a $223 million shortfall in projected tax collections during the first quarter of the state's fiscal year.
Projected tax revenues for Milton's general fund budget have fallen to $3.9 million from $4.9 million in 2010, and Mayor Debra Perry said she was not at all sure yet what else might have to go.
It keeps the current levels of projected tax revenue, and makes ambitious if lightly detailed cuts in a wide variety of domestic government programs, including turning the Medicaid program into a block grant to states.
If gridlock is such that all projected tax rises and spending cuts take effect, America's economy could take a hit equal to 4% of GDP, enough to seriously harm the world economy.
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CEO of Professional Science Editing for Scientists @ prosciediting.com