Listen to "Reality Check with Ben Swann" on Spreaker.

Feds Collect Record 2015 Tax Haul: $19,346 Per Worker

Despite collecting record-breaking tax revenue of $2.8 trillion during the 2015 fiscal year, the U.S. government has overspent by nearly $530 billion.

Must Read

ABC News Buried Epstein Story?

In this episode of Truth In Media with Ben Swann, we’re taking a look at new footage from Project Veritas revealing that ABC News refused to air an explosive story detailing Epstein’s alleged crimes years ago, and a hot mic captures exactly why ABC did so.

Unstoppable Domains

Uncensorable blockchain domains. Every domain purchase supports Ben Swann and Truth in Media

The Government’s War on Wikileaks, Assange, Manning and Hammond

In episode 7 of Truth In Media with Ben Swann, we explain the secret grand jury targeting Julian Assange, Chelsea Manning, and Jeremy Hammond, and discuss the government's lasting damage on the lives of whistleblowers in an interview with John Kiriakou.
Michael Lotfihttp://brandfireconsulting.com
Michael Lotfi is a Persian-American political analyst and adviser living in Nashville, Tennessee. Lotfi is the founder and CEO of BrandFire Consulting LLC. The firm specializes in public and private technology centered brand development, lead generation, data aggregation, online fundraising, social media, advertising, content generation, public relations, constituency management systems, print and more. Lotfi is the former executive state director for the Tennessee Tenth Amendment Center, a think-tank focused on restraining federal overreach. Lotfi graduated with top honors from Belmont University, a private Christian university located in Nashville, Tennessee.

WASHINGTON, September 14, 2015– According to a monthly treasury statement, through the first eleven months of fiscal year 2015 (Oct. 1, 2014 – end of August), the United States federal government has collected a record-breaking haul in tax revenue. In total, the feds have collected over $2.8 trillion so far, which equals approximately $19,346 for every person in the country working full-time or part-time in August.

The largest yield of this fiscal year’s record-setting tax collections were derived from individual income tax. That netted the United States Treasury approximately $1.379 trillion. Payroll taxes for “social insurance and retirement receipts” brought in an additional $977.5 billion. Additionally, the corporate income tax brought in $268.4 billion.

It appears that the record-breaking tax revenue of $2,883,250,000,000 wasn’t enough for the federal government. Despite the extra cash, the federal government spent $3,413,210,000,000 in those eleven months, which ran up a deficit of $529,960,000,000 during the collection period.

- Newsletter -

To date, the national debt sits at approximately $18.4 trillion with each citizen’s share equaling $57.1 thousand.

The federal government’s largest expenditures are Medicaid and Medicare, Social Security, defense and war, net interest on the debt itself, federal pensions and income securities.

Also, at a 560 percent increase since fiscal year 2000, the monetary base has also been greatly expanded by the Federal Reserve to combat the great recession.

Washington shows no signs of slowing down. Almost exclusively, decreases in budget deficits have been achieved by tax increases, not decreases in federal spending.

In late 2012, Republicans joined President Obama’s proposal and agreed to raise taxes to avoid the “fiscal cliff”. Many Republicans have also joined President Obama and Democrats in calling for an internet sales tax. Meanwhile, federal spending is up 106 percent since fiscal year 2000.

FOLLOW MICHAEL LOTFI ON Facebook, Twitter & LinkedIn.

- Advertisement -

Featrued Sponsors

Unstoppable Domains

Uncensorable blockchain domains. Every domain purchase supports Ben Swann and Truth in Media

Holland Center

Holland Center is a day treatment program and medical clinic for children with autism.

Pure VPN

Military grade privacy on all devices.
- Advertisement -

Latest News

video

ABC News Buried Epstein Story?

In this episode of Truth In Media with Ben Swann, we’re taking a look at new footage from Project Veritas revealing that ABC News refused to air an explosive story detailing Epstein’s alleged crimes years ago, and a hot mic captures exactly why ABC did so.

Unstoppable Domains

Uncensorable blockchain domains. Every domain purchase supports Ben Swann and Truth in Media
video

The Government’s War on Wikileaks, Assange, Manning and Hammond

In episode 7 of Truth In Media with Ben Swann, we explain the secret grand jury targeting Julian Assange, Chelsea Manning, and Jeremy Hammond, and discuss the government's lasting damage on the lives of whistleblowers in an interview with John Kiriakou.

Protecting Free Speech with Unstoppable Domains

Software company Unstoppable Domains is aiming to put an end to online censorship by providing blockchain-based domains.
video

Ben Swann Breaks Down ABC News Fake Video of Syria Massacre

Mainstream media outlets across the country have been rigorously covering the news of President Trump pulling troops out of Northern Syria. But are these...
- Advertisement -

More Articles Like This