JimBowie1958
Old Fogey
- Sep 25, 2011
- 63,590
- 16,756
- 2,220
But still a deficit amounting to hundreds of billions of USD.
The problem is NOT that taxes are too low, the problem is we have too many incumbents returned to office every two years.
Feds Collect Record Taxes in October; Still Run $100B Deficit
The problem is NOT that taxes are too low, the problem is we have too many incumbents returned to office every two years.
Feds Collect Record Taxes in October; Still Run $100B Deficit
The federal government collected record total tax revenues of $252,692,000,000 in October, the first month of fiscal 2019, according to the Monthly Treasury Statement released Tuesday.
Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000.
This October’s record $252,692,000,000 in total tax collections was $11,414,590,000 more than the $241,277,410,000 (in constant October 2018 dollars) that the federal government collected in October 2017, which was the previous record for federal tax collections in October.
Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000.
This October’s record $252,692,000,000 in total tax collections was $11,414,590,000 more than the $241,277,410,000 (in constant October 2018 dollars) that the federal government collected in October 2017, which was the previous record for federal tax collections in October.
