The federal government this January ran an honest to goodness, actual surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.
So, while I personally believe the leviathan government needs to be starved for tax dollars, I also think leaving that money in the hands of real, working Americans will generate huge economic activity that in turn will flood the government with tax bucks. Seems like that might just be happening.
During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.
Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.
Let's hope this continues and accelerates.
That's a lot of cheddar.
ReplyDeleteso, with deficit spending, and a national debt owned by the American people, what do they need to collect taxes for? taxes don't keep up with spending, and never will pay off the debt...
ReplyDeletehere in colorado, we tried to throttle down the government spending by removing the ability of the state legislature to issue a new tax without the approval by the people in a general election question. "we the people" did ok for a few years. actually worked until the politicians decided "fees" were not a tax. back into the same old loop. now what....hate politicians what won't stay bought./
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