Posted on 07/19/2022 5:07:47 AM PDT by Olog-hai
The federal government hauled in a record $3,835,390,000,000 in total taxes in the first nine months of fiscal 2022 (October through June), according to the Monthly Treasury Statement.
That was up $502,438,730,000—or 15.07 percent—from the then-record $3,332,951,270,000 (in constant June 2022 dollars) that the federal government collected in taxes in the first nine months of fiscal 2021. […]
At the same time that it was collecting this record $3,835,390,000,000 in total taxes, the federal government spent $4,350,457,000,000. Thus, the federal government ran a deficit of $515,067,000,000 in the first nine months of the fiscal year. …
(Excerpt) Read more at cnsnews.com ...
...and not a penny extra to finish the “wall”.
Hey, as long as revenue increases too, why should the government care about how inflation affects the little guy
I wish they were as scrupulous about counting ballots as they are about collecting taxes
> the federal government ran a deficit <
That’s the most important point in the whole article. You’d think that with a record income, there’d be some small attempt to pay down the debt. But, no. Instead it’s irresponsible and reckless business as usual.
Yet I’m still waiting on my 2020 refund.
With 20% Inflation you would expect that.
The dollar is being destroyed before our eyes at an exceedingly fast rate.
No soft landing.
The tax appraisal on my home at the farm went up 57% in one year.
I do not think veterans with honorable discharges should have to pay federal income taxes.
Which has NOTHING to do with income taxes.
10% goes to the big guy
Inflation affects taxes too.
Wow! That’s bad. I’m waiting on my 2022 refund, but got my 2020 refund a couple of years ago.
The gov is spending much more than it takes from us. If we were to do that we would go to jail. When the government does it, it just creates enough new money to make up the difference.
They got my last payment in 2022. Anyone who would work for these crooks is a fool.
I think the American experiment in self governance is over.
Is it not a Tax? State Property Tax is however an income tax deduction.
We will need the money to pay for more than 3-5 million new illegal immigrants and their families. TY joey.
This is why .gov loves inflation.
“This is why .gov loves inflation.”
I am sorry. This makes little sense. The government got MORE money, but it is worth LESS. It did not even get more money due to any impact of inflation on income, which lags as do taxes.
The government does want a stable and small amount of inflation. It encourages economic activity. It does NOT want what we are going through, now, anymore than it did in the 70s.
No, the federal debt increased by that amount. I realize that the author has a degree in English Lit from Princeton, but he has had time to overcome that lack of education in the subject and learn the difference, so c'mon man.
And the name "national' debt is a misnomer. The only entity that owes that debt is the federal government, so it should be properly referred to as federal debt.
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