$2,883,250,000,000: Federal Taxes Set Record Through August; $19,346 Per Worker; Feds Still Run $530B Deficit

CNS News – by Terence P. Jeffrey

The federal government raked in a record of approximately $2,883,250,000,000 in tax revenues through the first eleven months of fiscal 2015 (Oct. 1, 2014 through the end of August), according to the Monthly Treasury Statement released Friday.

That equaled approximately $19,346 for every person in the country who had either a full-time or part-time job in August.  

It is also up about $198,425,330,000 in constant 2015 dollars from the $2,684,824,670,000 in revenue (in inflation-adjusted 2015 dollars) that the Treasury raked in during the first eleven months of fiscal 2014.

Despite the record tax revenues of $2,883,250,000,000 in the first eleven months of this fiscal year, the government spent $3,413,210,000,000 in those eleven months, and, thus, ran up a deficit of $529,960,000,000 during the period.

According to the Bureau of Labor Statistics, total seasonally adjusted employment in the United States in August (including both full and part-time workers) was 149,036,000. That means that the federal tax haul so far this fiscal year has equaled $19,345.99 for every person in the United States with a job.

In 2012, President Barack Obama struck a deal with Republicans in Congress to enact legislation that increased taxes. That included increasing the top income tax rate from 35 percent to 39.6 percent, increasing the top tax rate on dividends and capital gains from 15 percent to 20 percent, and phasing out personal exemptions and deductions starting at an annual income level of $250,000.

An additional 3.8 percent tax on dividends, interest, capital gains and royalties–that was embedded in the Obamacare law–also took effect in 2013.

The largest share of this year’s record-setting October-through-August tax haul came from the individual income tax. That yielded the Treasury $1,379,255,000,000. Payroll taxes for “social insurance and retirement receipts” took in another $977,501,000,000. The corporate income tax brought in $268,387,000,000.

http://www.cnsnews.com/news/article/terence-p-jeffrey/2883250000000-federal-taxes-set-record-through-august-19346-worker

5 thoughts on “$2,883,250,000,000: Federal Taxes Set Record Through August; $19,346 Per Worker; Feds Still Run $530B Deficit

  1. All that money to a gang of thieving idiots who screw-up everything they touch, steal whatever isn’t nailed down, and work tirelessly to create new ways of separating the American people from everything that’s theirs.

    There cannot be sanity, peace, or prosperity until every last one of their heads is rolling.

    See all that cash these morons are pissing away? That’s supposed to be yours, but they decided to steal it from you so they can hire countless armies of retarded, useless bureaucrats, waste untold billions fighting enemies they created for fun and profit, and give lucrative contracts to everyone who helped the crooks get (s)elected.

    They’re giving it to you hard and deep, with no Vaseline, simply because you’ve allowed them to. Be passive, and you’ll always get screwed. It’s a law of nature.

  2. Well American Nationals ? It doesn’t get more plainly worded than JR just wrote.

    “There cannot be sanity, peace, or prosperity until every last one of their heads is rolling.”

    Our future is simply, succinctly stated.

  3. yes, and if they aren’t taken down soon we’ll
    all be charred from WW3…and then everything is lost.

    I’d much rather put up a good hard fight to win than be blown to dust in their attack on all creation.

    -flek

  4. I wonder if all those people actually make a federal income or a state income and are really required to pay federal and or state income taxes. Income is profit made by corporations and Federal and state income taxes are for the federal and state employee pension plans so it’s no wonder they don’t want to clear up this bit of confusion to the general public giving them money for nothing. We need to start taking away instead of giving. Sales…tax. Federal Income…tax. State income…tax. This is certainly straight forward and easy to understand as it should be. Common usage of language and all that.

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