$765,645,000,000: FY2016 TAXES SET RECORD THROUGH DECEMBER; $5,107 PER WORKER; FEDS STILL RUN $215.5b DEFICIT
Terrance P. Jeffrey
(CNSNews.com) - The federal government took in a record of approximately $765,645,000,000 in tax revenues in the first three months of fiscal 2016 (Oct. 1, 2015 through Dec. 31, 2015), according to the Monthly Treasury Statement released today.
That equaled approximately $5,107 for every person in the country who had either a full or a part-time job in December.
It is also an increase of about $24,288,810,000 in constant 2015 dollars from the $741,356,190,000 in revenue (in constant 2015 dollars) that the Treasury took in during the first three months of fiscal 2015.
As it was hauling in these record revenues, the Treasury spent approximately $981,190,000,000, and ended up the first three months of the fiscal year with a deficit of approximately $215,546,000,000, according to the monthly statement.
According to the Bureau of Labor Statistics, total seasonally adjusted employment in the United States in December (including both full and part-time workers) was 149,929,000. That means that the record federal tax revenue of 765,645,000,000 that the Treasury has pulled in so far this fiscal year already equals approximately $5,107 per worker.
In December 2014, there were 147,439,000 people employed in the United States. So, the then-record of $741,356,190,000 in revenues the Treasury pulled in during the first three months of fiscal 2015 (Oct.-Dec. 2014) equaled approximately $5,028 per worker.
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