December 12, 2019

Feds Collect Record Taxes – Again

  • Flyover Country

By: Ted Patterson

In Brief:

The fed just released its Monthly Treasury Statement for fiscal year 2020, revealing the second-highest federal spending in these months in U.S. history.

The Background:

CNS News reports, “The federal government collected record total tax revenues of $470,706,000,000 in October and November… Despite collecting that record amount in taxes, however, the federal government still ran a deficit of $343,360,000,000 during October and November because it spent $814,012,000,000 in those two months.”

Why It Matters:

This level of spending and taxation is unsustainable.

Notable Quotes:

“Blessed are the young for they shall inherit the national debt.”

  • Herbert Hoover

Ted Patterson is editor of Republic Press.

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