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New Record: Federal Tax Revenues Top $3T for 1st Time
Cybercast News Service ^
| October 15, 2014 - 2:52 PM
| Ali Meyer
Posted on 10/15/2014 1:29:05 PM PDT by Olog-hai
Inflation-adjusted federal tax revenues not only hit a record high in fiscal 2014, but marked the first time that tax revenues have ever topped $3 trillion, according to the latest Monthly Treasury Statement. In fiscal year 2014, inflation-adjusted federal tax revenues hit a record $3,020,848,000,000, but the federal government still ran a $483,350,000,000 deficit during that time.
Each month, the Treasury publishes the governments total receipts, including all revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes (including Social Security and Medicare taxes), unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and miscellaneous receipts.
The largest share of the tax revenue so far this year has come from individual income taxes, which totaled $1,394,567,000,000 in fiscal 2014.
(Excerpt) Read more at cnsnews.com ...
TOPICS: Government; News/Current Events
KEYWORDS: federalgovernment; irs; taxrevenue; threetrillion
Looks like a White House prediction has actually
come true.
1
posted on
10/15/2014 1:29:05 PM PDT
by
Olog-hai
To: Olog-hai
And how much are we spending?
2
posted on
10/15/2014 1:31:40 PM PDT
by
Catmom
(We're all gonna get the punishment only some of us deserve.)
To: Olog-hai
To: Olog-hai
Just imagine how much of that is ate up by WFG&C?
Waste Fraud Graft & Corruption.
Some say , minimum, 30%
Others, more likely, 50%..
Poof.
Even 10 % is too much.
4
posted on
10/15/2014 1:35:50 PM PDT
by
NormsRevenge
(Semper Fi - Revolution is a'brewin!!!)
To: Catmom
They’ll be doing a little better tomorrow. I sent them 10 grand today.
5
posted on
10/15/2014 1:36:12 PM PDT
by
BikerJoe
To: Olog-hai
21 new obamacare taxes suck the cash out of the economy and into the fed coffers. Raises cost of health care, reduces income, making health care unaffordable, great!
To: Olog-hai
Yeah, good news. The government has sucked $3 thousand, thousand million out of the economy.
Happy days are here again!
7
posted on
10/15/2014 1:43:56 PM PDT
by
nesnah
(Liberals - the petulant children of politics)
To: Olog-hai
And it's still not enough to balance our budget.
Ramirez's latest political cartoon LARGE VERSION 10/14/2014: LINK LINK to regular sized version of Ramirez's latest, and an archive of his political cartoons.In this political cartoon, Ramirez presents, "Finally! Obama is requested to campaign for a Democrat."
FReepers, 18% of the FReepathon goal has been met. Please click above and pencil in your donation now. Lets retire this effort early this quarter.
...this is a general all purpose message, and should not be seen as targeting any individual I am responding to...
8
posted on
10/15/2014 1:46:11 PM PDT
by
DoughtyOne
(Dunam, Duncan, man what infections these folks brought over.)
To: Olog-hai
Three trillion?
That means King Obozo can spend five trillion...
/s
9
posted on
10/15/2014 1:50:17 PM PDT
by
Iron Munro
(We can make it work with only one square per restroom visit -- Sheryl Crow)
To: Olog-hai
Actually, with something like FairTax, the tax revenue could be US$500 billion per year higher than this because with no more taxation of the process of earning money, economic activity will be way higher.
10
posted on
10/15/2014 1:52:51 PM PDT
by
RayChuang88
(FairTax: America's economic cure)
To: RayChuang88
The next step would have to be the people putting curbs on just how the feds spend that money.
11
posted on
10/15/2014 2:02:27 PM PDT
by
Olog-hai
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