Individual Tax Deposits, near the same as last year, up $6 billion Corporate tax Receipts, near the same as last year, up $3 billion Withheld income tax, up $14 billion Withheld employment/payroll, up $6 billion Other taxes and duties, down $3 billion Surplus down $54 billion Total receipts, up $25 billion Total outlays, up $80 billion https://fiscal.treasury.gov/files/reports-statements/mts/mts0419.pdf https://fiscal.treasury.gov/files/reports-statements/mts/mts0418.pdf ----------------------------------------
More comparisons; Mar 2019 Individual tax deposits; $17 billion Apr 2019 Last minute Individual tax deposits; $284 billion Thus, tax deposits from last minute filers = $267 billion Apr 2019 Surplus; $160 billion Apr 2019 Outlays; Up $80 billion Excluding tax deposits from last minute filers; Deficit; $107 billion ($267 billion tax deposits - $160 billion surplus) In other words, May/Jun/Jul/Aug/Sep, we'll "most likely" be back to monthly deficits due to the fact outlays have increased.
You can watch the full video but I thought this was a great point about taxes and how its usually a constant 17% of the GDP that are collected in Taxes.
That is a mixed bag. If we could simply curb spending, we wouldn't be screwing over future generations. Greedy government and the establishment elites. This is an area where Trump is not doing well, but Congress does have the purse.
