Tag Archive: $1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016


on April 13, 2016 in World News

$1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016

BY: Ali Meyer Follow @DJAliMeyer Despite collecting record revenues, government still runs $461 billion deficit 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. In the first half of fiscal 2016, which included the months of October, November, December,...

BY: Ali Meyer Follow @DJAliMeyer Despite collecting record revenues, government still runs $461 billion deficit 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...

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