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Right Hooks

Record Revenue

Taxes produce major haul.

May 14, 2014

The Congressional Budget Office reports that April was a record month for federal revenue. For the first seven months of FY2014, wealth confiscation is up 8.2%, or $132 billion, over last year. So far, revenue has reached $1.74 trillion. The effect is across the board, with personal tax receipts up 3.6%, payroll taxes up 12.2% and corporate payments up 14.5%. And yet the federal government still managed to run up a $301 billion deficit during that time. Those Obama tax hikes from 2013 sure did the trick – for now. Economic growth remains stagnant, thanks in large part to the major hit small businesses took with Obama’s wealth confiscation. Once the effect really settles in, revenue may well go back down.

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