Tax Revenue Hits Record
And Obama wants more.
Thanks to all the additional money the government is taking out of the private sector, the economy remains stagnant. And the government is rolling in dough. “Inflation-adjusted federal tax revenues hit a record $1,104,947,000,000 in the first five months of fiscal 2014,” reports CNS News, “but the federal government still ran a $377,379,000,000 deficit during that time, according to the Monthly Treasury Statement for February.” The record is both nominal and inflation-adjusted. Thanks to Barack Obama’s massive tax hikes in 2013, most Americans are paying more in taxes – whether payroll or income or both. But it’s not enough. Obama’s FY2015 budget calls for even more tax hikes, particularly on “the wealthy.” For him, it’s not about revenue, it’s about “fairness.”