While the government plunders people for over $240 billion, it still can’t afford its budget.
Without any sign of the promised tax reform, the government plunders the nation in record-breaking amounts. But it is never enough. The government somehow finds a way to spend more than it takes in. So, while taxes are high, the debt continues to grow. And this guarantees that taxes must be raised even higher in the future as we try to pay our expanding debt and the interest.
The U.S. Treasury hauled in $240,418,000,000 in total taxes in the month of May, setting a record for inflation-adjusted tax revenues for that month of the year, according to the Monthly Treasury Statement released this week.
Despite these record revenues, however, the federal government still ran a deficit of $88,426,000,000 in May—because it spent $328,844,000,000 in the month.
In the first eight months of fiscal 2017 (October through May), the federal government hauled in $2,169,160,000,000 in total taxes and spent $2,602,013,000,000—thus, running a deficit of $432,853,000,000. Fiscal 2017 will end on Sept. 30, 2017.
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