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View Full Version : Feds collect record individual income taxes in 2018, yet still manage to spend ~$1.5T



Peter1469
02-14-2019, 08:34 AM
Feds collect record individual income taxes in 2018, yet still manage to spend ~$1.5T over revenues.
(https://www.cnsnews.com/news/article/terence-p-jeffrey/1665484000000-feds-collect-record-individual-income-taxes-calendar)
It is the spending stupid.


The federal government collected a record $1,665,484,000,000 in individual income taxes in calendar year 2018, according to the Monthly Treasury Statements for year, which the Treasury finished publishing today with the belated release of the December statement (https://www.fiscal.treasury.gov/reports-statements/mts/current.html).

Calendar year 2018 was the first full tax year after President Donald Trump signed the Tax Cuts and Job Act on Dec. 22, 2017.

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At the same time the Treasury was collecting record individual income taxes, the federal debt was climbing from $20,492,746,546,193.75 at the close of 2017 to $21,974,095,705,790.55 at the close of 2018. That was a one-year increase of $1,481,349,159,596.80.