$1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016
Washington Free Beacon
Despite collecting record revenues, government still runs $461 billion deficit
BY:
Inflation-adjusted federal tax revenues hit a record $1.48
trillion for the first half of fiscal year 2016, but the federal
government still ran a $461 billion deficit during that time, according
to the latest monthly Treasury Department statement.
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.
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