'cookieChoices = {};'

It Is Not A Good Idea
To Act As If You Can Not Accomplish
What You Were Elected To Do


Wednesday, May 09, 2018

Who Woulda Thunk It: Trump Cuts Taxes, Tax Revenues Go UP! ... HIGHEST REVENUES EVER RECORDED


From the Congressional Budget Office Report:
Estimated Surplus in April 2018: $218 Billion The federal government realized a surplus of $218 billion in April 2018, CBO estimates—$35 billion larger than the surplus in April 2017. CBO estimates that receipts in April 2018 totaled $515 billion—$59 billion (or 13 percent) more than those in the same month last year. 
Individual income and payroll taxes rose by $73 billion (or 20 percent), on net. Nonwithheld payments for those taxes, largely final payments of 2017 taxes, rose by $60 billion. 
Withholding of individual income and payroll taxes rose by $7 billion (or 4 percent). Withheld taxes rose both because wages and salaries were higher and because April 2018 had one more business day than April 2017.
However, those factors were partially offset because the share of wages withheld for taxes was lower, CBO estimates, reflecting the new withholding tables issued in January. Corporate income tax payments declined by $14 billion (or 24 percent).
Bookmark and Share
posted by Pastorius at permanent link#


Post a Comment

Subscribe to Post Comments [Atom]

<< Home

Older Posts Newer Posts