WEB Notes: I suppose there is not much common sense left in the world these days. The federal government received (took) $71 billion dollars more in taxes this year than last and still runs an enormous deficit. You can take all that Republican and Democrat talk somewhere else. Both parties rip you off and this administration said you received a tax cut?…
I was born at night, but not last night. If the government recieved $71 billion more in taxes, that means they took more money from the people, not less.
The federal government collected a record $1,305,490,000,000 in individual income taxes through the first nine months of fiscal 2018 (October 2017 through June 2018), according to the Monthly Treasury Statement released today.
Despite the record individual income tax collections, the federal government still ran a deficit of $607,099,000,000 over those same nine months, according to the Treasury statement.
The approximately $1,305,490,000,000 in individual income taxes that the Treasury collected in October through June of this fiscal year was $71,815,310,000 more (in constant June 2018 dollars) than the $1,233,674,690,000 (in constant June 2018 dollars) in individual income taxes that the Treasury collected in October through June of fiscal 2017—which was the previous record.