No wonder Barack Obama delayed the release of the budget numbers after the second quarter.  The Associated Press took a look at the revenue side, and it’s disastrous.  Revenue continues to fall far short of expectations, which means that the budget deficits predicted will expand even further

The big takeaway on this graph is the difference between corporate and individual tax revenues at various points on the economic cycle.  Despite the oft-repeated canard that the Bush administration favored big business, the biggest increases in corporate tax revenue in the last generation came during the Reagan and Bush years.  During most of the Clinton administration, individual tax revenues rose faster than corporate tax revenues.  That is remarkably true during the peaks of economic growth in 1984-5 and 2004-7.

http://news.yahoo.com/s/ap/us_plummeting_taxes