$2.88 Trillion: Gov’t Collects Record-High Taxes in First 11 Months of FY 2015

Monday, September 14, 2015 | Tag Cloud | Learn about out FREE SYNDICATION

(Worthy News) – The federal government collected a record amount of taxes in the first 11 months of fiscal year 2015, exceeding $2.88 trillion in revenue, according to the latest monthly Treasury Department statement. Despite the revenue, which is still a record amount when adjusted for inflation, the federal government ran a deficit of $529 billion.

Treasury receipts include tax revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes, unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and other miscellaneous items.

In the first 11 months of fiscal year 2015, the amount of taxes collected by the federal government outpaced the first 11 months of all previous fiscal years, even after adjusting for inflation. The 2015 fiscal year begins Oct. 1, 2014, and runs through Sept. 30, 2015.

Most of the $2.88 trillion the government collected came from individual income taxes, which comprised nearly half of that total, totaling $1.3 trillion. [ Source ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News