The federal government collected a record $1,806,838,000,000 in total taxes through the first five months of fiscal 2022 (October through February), according to the Monthly Treasury Statement released today.
Data Point – Once Again, WE DON’T HAVE A SPENDING PROBLEM!
…the federal government ran a deficit of $668,267,000,000. That is because the government spent $2,790,254,000,000 during the period. Abstracted: The record $2,121,987,000,000 in total taxes that the Treasury collected in the first half of this fiscal year included $1,124,485,000,000 in individual income taxes; $697,779,000,000 in social insurance and retirement taxes; $127,259,000,000 in corporation income taxes; … Read more