| Submit your comments on this article |
| Government |
| Government Collects $3.3 Trillion in Taxes in Fiscal Year 2017 |
| 2017-10-24 |
| [Free Beacon] The federal government collected approximately $3.3 trillion in taxes in fiscal year 2017, but the federal government still ran a $666 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. The 2017 fiscal year begins on Oct. 1, 2016, and runs through Sept. 30, 2017. During this time, the amount of taxes collected by the federal government totaled $3,314,894,000,000. Most of the $3.3 trillion that the government collected from this fiscal year came from individual income taxes, which totaled $1.59 trillion. Corporation income taxes totaled about $297 billion. The amount of taxes collected this year was slightly lower than the amount collected last year, after adjusting for inflation. In fiscal year 2016, the federal government collected $3,266,688,000,000 in taxes, but after adjusting for inflation, that number rose to $3,339,836,430,000. Although the federal government brought in approximately $3.3 trillion in revenue in fiscal 2017, according to the Treasury, it also spent approximately $3.98 trillion, leaving a deficit of $665,712,000,000. |
| Posted by:Besoeker |
| #5 Only 3.3 trillion? You selfish bastards, you Dirt People! |
| Posted by: charger 2017-10-24 19:34 |
| #4 "collects"? The word should be extorted. |
| Posted by: Bright Pebbles 2017-10-24 17:34 |
| #3 ...when you can't sell your junk bonds, you have to live in your income stream. |
| Posted by: Procopius2k 2017-10-24 08:54 |
| #2 As many pundits have stated, we don't have a tax/revenue problem. We have a spending problem. Time to cut up the credit cards and fix our budgets. Ain't gonna happen though. Not until after the collapse happens. |
| Posted by: DarthVader 2017-10-24 08:43 |
| #1 The USG could have collected $333.3 trillion in taxes and they would STILL be operating in a deficit. |
| Posted by: Besoeker 2017-10-24 08:32 |