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This is How Much the Federal Government Taxed American Workers in FY 2015

The government broke tax records in FY 2015, but that didn’t stop them from running a budget deficit.

CNS News reports:

The federal government raked in a record of approximately $2,672,414,000,000 in tax revenues through the first ten months of fiscal 2015 (Oct. 1, 2014 through the end of July), according to the Monthly Treasury Statement released today.

That equaled approximately $17,955 for every person in the country who had either a full-time or part-time job in June.

… Despite the record tax revenues of $2,672,414,000,000 in the first ten months of this fiscal year, the government spent $3,137,953,000,000 in those ten months, and, thus, ran up a deficit of $465,539,000,000 during the period.

This means the average tax on each American worker in FY 2015 was 150% of the income threshold of the poverty line. In other words, some workers got taxed more than Americans who are considered to be in poverty earn in an entire year.

The GDP of the United States in 2014 was $17.42 trillion. That means that in only 10 months, the government taxed Americans the equivalent of 15.3% of all goods and services produced in the US last year.

I realize that am not the first to say this, and I will certainly not be the last, but: Stop the madness!!!

These numbers are proof that America does not have a revenue problem, we have a spending problem.

 

Tom Borelli

Dr. Tom Borelli is a contributor to Conservative Review and is a TV and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for ConservativeReview.com, The Washington Times and authored articles for Newsmax magazine. Dr. Borelli is also a regular political panelist on NewsmaxTV and i24 News he also co-hosts radio programs on SiriusXM Patriot with his wife Deneen Borelli. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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