March 28, 2024

$1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016, Still Runs $461 Billion Deficit

Inflation-adjusted federal tax revenues hit a record $1.48 trillion for the first half of fiscal year 2016, but the federal government still ran a $461 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 […]

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