Record Federal Revenues as Debt Continues to Skyrocket

Just in case there is anyone out there who still thinks Big Government can tax its way out of the hole it has dug us all into:

The federal government raked in a record of approximately $2,446,920,000,000 in tax revenues through the first nine months of fiscal 2015 (Oct. 1, 2014 through the end of June), according to the Monthly Treasury Statement released today.

That equaled approximately $16,451 for every person in the country who had either a full-time or part-time job in June.

It is also up about $178,156,270,000 in constant 2015 dollars from the $2,268,763,730,000 in revenue (in inflation-adjusted 2015 dollars) that the Treasury raked in during the first nine months of fiscal 2014.

Despite the record tax revenues of $2,446,920,000,000 in the first nine months of this fiscal year, the government spent $2,760,301,000,000 during those nine months, and, thus, ran up a deficit of $313,381,000,000 during the period.

The federal debt is now over $18 trillion. It would take generations to pay it off. Raising taxes only makes it grow faster because the government is like a fire. The more you feed it, the bigger it gets. The bigger it gets, the more destruction it causes.

fire
Pour water on it, not more tax fuel.

On a tip from DinaRehn. Cross-posted at Moonbattery.

Leave a Comment

Permalinks


Share this!

Enjoy reading? Share it with your friends!

Send this to a friend