Home - About -Advertise - Contact Us - Forums - Site Maps - Survival PDF Files - Donate

$221,692,000,000: Federal Taxes Set Record for October; $1,459 Per Worker; Feds Still Run Deficit of $44,192,000,000

Posted 11/14/2016 3:03 am by

Share

Federal tax revenues set an all-time record of $221,692,000,000 for the month of October, according to the newly released Monthly Treasury Statement.

 

In constant 2016 dollars that is the most taxes the federal government has ever collected in October, which is the first month of the fiscal year.

 

The record $221,692,000,000 in taxes collected this October was up $6,718,330,000 from the $214,973,670,000 in constant 2016 dollars that the Treasury collected in October 2015.

 

Despite bringing in record tax revenue of $221,692,000,000 this October, the federal government ran a deficit of $44,192,000,000 during month. That is because federal spending in October was $265,884,000,000.

The record $221,692,000,000 in federal taxes for October equaled approximately $1,459 for every person who had either a full- or part-time job during the month. (According the Bureau of Labor Statistics, the total number of people employed in the United States in October was 151,925,000.)

 

The $44,192,000,000 deficit the federal government ran while collecting record tax revenue for October equaled approximately $291 for each person with a full- or part-time job.

 

The second highest federal tax haul in any October came in 2014, when the U.S. Treasury brought in $216,934,990,000 in tax revenue in constant 2016 dollars. The third highest was October 2015, when the Treasury brought in $214,973,670,000; and the fourth highest was October 2001, when the Treasury brought in $214,249,290,000.



 

Americans paid $121,576,000,000 in individual income taxes in October, according to the Monthly Treasury Statement. That accounted for the largest share of the record $221,692,000,000 in taxes the Treasury collected during the month.

Americans also paid $79,361,000,000 in Social Security and other payroll taxes during Ocotber.

 

The income tax on corporations brought in $2,277,000,000 during October.

 

Excise taxes brought in $5,707,000,000.

 

The Treasury also collected $3,069,000,000 in estate and gift taxes.

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
 
Do you enjoy reading Patriot Rising? Even $1 a month or $5 a month recurring donation keeps Patriot Rising going strong. If you can afford that amount recurring, please give it consideration!
 
 
Check out The Survival / Homesteading / Preparedness / Sustainability PDF Page! (Nearly 3000 free .PDF Files)
Share
Loading Facebook Comments ...

One response to $221,692,000,000: Federal Taxes Set Record for October; $1,459 Per Worker; Feds Still Run Deficit of $44,192,000,000

  1. Tom November 14th, 2016 at 9:37 am

    It is in the most fundamental way our debt-based fiat money system works to REQUIRE that enough new money to be constantly created to pay the interest on the older debt. Mathematically it is an exponential function, and ALL exponential functions eventually “hockey stick” — turn vertical. We are now in that vertical phase, which was completely predictable the day the system was set in motion in 1913. The only question now is how much longer they can suck their illegitimate “interest” out of the taxpayers before it crushes what’s left of the economy. The parasite is finally killing the host.

       

Home - About -Advertise - Contact Us - Newsletter - Site Maps - Survival PDF Files - Donate
Skip to toolbar