Feds Collect Record Individual Income Taxes Through July; Still Run $683.9B Deficit


(Worthy News) – The federal government collected a record $1,415,150,000,000 in individual income taxes through the first ten months of fiscal 2018 (October 2017 through July 2018), according to the Monthly Treasury Statement.

But the federal govenrment also ran a $683,965,000,000 deficit for those ten months, according to the statement.

The previous record for individual income tax collections in the first ten months of the fiscal year was in fiscal 2017, when the Treasury collected $1,351,409,020,000 in individual income taxes (in constant July 2018 dollars) in the October through July period. [ Source: CNS News (Read More…) ]

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