The Patriot Post® · Tax Revenue for FY2015 Already Tops $400 Billion

Thanks in large part to Congress’ tax hike on “the rich” that took effect in 2013, the federal government is bringing in a record amount of tax revenue. Unfortunately, more revenue doesn’t quench the thirst for exorbitant spending. Terence Jeffrey of CNSNews.com reports, “The U.S. Treasury continued to rake in tax dollars at a record rate in November as the federal government closed out the first two months of fiscal 2015 with $404,155,000,000 in total receipts, according to the Monthly Treasury Statement released [Wednesday]. In constant 2014 dollars, this is the first time federal revenues have topped $400 billion in the first two months of the fiscal year.” The problem? Spending during the same period totaled $582.686 billion, leaving a $178.531 billion deficit. Bringing that perspective closer to home, $5,030 was spent per household, $1,541 of which accounts for debt. There are a plethora of reasons for across-the-board tax cuts to spur the economy, but one of the best arguments against raising them is that you can’t trust a runaway government to spend even more tax dollars wisely. More…