Feds Collect Record Taxes Through November; But Still Run $343.3 Billion Deficit With Second-Highest Spending in Nation's History
By Terence P. Jeffrey | December 11, 2019 | 4:40pm EST
(Getty Images/Doug Mills-pool)
(CNSNews.com) - The federal government collected record total tax revenues of $470,706,000,000 in October and November, the first two months of fiscal 2020, according to the Monthly Treasury Statement released today.
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.
That was the second-highest federal spending in the October-November period in the history of the United States. The only time the federal government spent more in the first two months of the fiscal year was in fiscal 2009 (October and November of 2008), when Congress enacted the Troubled Asset Relief Program (TARP) to bailout insolvent banks.
That year the federal government spent $861,137,350,000 in constant November 2019 dollars. (Dollar values in this story were adjusted into constant November 2019 values using the Bureau of Labor Statistics inflation calculator.)
The record $470,706,000,000 that the federal government collected in taxes in the first two months of fiscal 2020 was up $2,644,750,000 from the $468,061,250,000 (in constant November 2019 dollars) that it spent in the first two months of fiscal 2019.
While total federal taxes set a record in October and November, individual income taxes did not. In October and November of this fiscal year, the Treasury collected $232,153,000,000 in individual income taxes. That was up from the $226,795,700,000 (in constant November 2019 dollars) that the Treasury collected last fiscal year (fiscal 2019). But it was down from the $236,213,770,000 (in November 2019) that the Treasury collected in the first two months of fiscal 2018.
Corporation income taxes, Social Security payroll taxes, and customs duties were all up in the first two months of this fiscal year compared to last fiscal year, but estate and gift taxes and unemployment insurance taxes were down.
Corporation income taxes rose from $6,668,030,000 (in constant November 2019 dollars) in the first two months of fiscal 2019 to $7,103,000,000 in the first two months of fiscal 2020.
Social Security payroll taxes rose from $176,629,330,000 in the first two months of fiscal 2019 to $180,325,000,000 in the first two months of fiscal 2020.
Customs duties rose from $12,077,770,000 in the first two months of fiscal 2019 to $14,698,000,000 in the first two months of fiscal 2020.
Estate and gift taxes fell from $3,427,900,000 in the first two months of fiscal 2019 to $2,929,000,000 in the first two months of fiscal 2020.
Unemployment insurance taxes fell from $5,705,690,000 to $5,353,000,000.
The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
__alt__
Trump Is Surrounded by Criminals
https://mexicanoccupation.blogspot.com/2019/11/the-fall-of-donald-trump-final-days.html
“The legal ring
surrounding him is collectively producing a historic indictment of his endemic
corruption and criminality.” JONATHAN CHAIT
(ILLEGALS AMNESTY OPEN BORDERS)
TRUMP’S
SECRET AMNESTY: ENDORSED BY NANCY PELOSI AND MEXICO!
“Trump
Administration Betrays Low-Skilled American Workers.”
“Extensive research by economists
like George Borjas and analyst Steven Camarota reveals that the country’s
current mass legal immigration system burdens U.S. taxpayers and America’s
working and middle class while redistributing about $500 billion in wealth
every year to major employers and newly arrived immigrants. Similarly, research
has revealed how Americans’ wages are crushed by the country’s high immigration levels.” JOHN BINDER
///
DONALD TRUMP, huckster, conman,
cheat, pathological liar, bankrupt tax-evading phony billionaire, golf
cheat, adulterer and whore chaser with Tang-rinsed hair!
(DEFICIT)
TRUMPERNOMICS FOR THE
RICH…. and his parasitic family!
Report:
Trump Says He Doesn't Care About the National Debt Because the Crisis Will Hit
After He's Gone
"Trump's
alleged comment is maddening and disheartening,
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
*
TRUMPERNOMICS:
THE SUPER RICH APPLAUD
TWITTER’S TRUMP’S TAX CUTS FOR THE SUPER RICH!
"The tax overhaul would mean an unprecedented windfall for the
super-rich, on top
of the fact that virtually all income gains during the period of
the supposed
recovery from the financial crash of 2008 have gone to the top 1
percent income
bracket."
TRUMP COMPARES PETE BUTTIGIEG TO MAD MAG ALFRED E NEUMAN....
Pete compares the Swamp Keeper to a conman, huckster, cheat, pathological liar,
bankrupt tax-evading phony billionaire, golf cheat, adulterer and whore chaser
with Tang-rinsed hair!
ANN COULTER: WILL THE
GLOBALIST DEMOCRAT PARTY FOR BANKSTERS AND BILLIONAIRES DESTROY AMERICA?
I would also go to all of the working class that are in America,
construction workers in particular. Their salaries
have not just stagnated, they have gone down in the last 20 years. These are the least among us. We are the only ones not speaking
out of self-interest. …
Most of the people who are advocating for open borders … they have a vested in interest in
having either the cheap labor or the Democratic voters. Their
neighborhoods aren’t the ones being overwhelmed. They get the cheap maids, the cheap nannies, and then they strut
around like they’re Martin Luther King.
No, you are talking in your
self-interest, Chamber of Commerce, and Koch brothers, and Nancy Pelosi, and
Chuck Schumer. It’s Donald Trump and our side who are actually
caring about our fellow Americans — the kids who are getting addicted to black
tar heroin. …
The heroin problem in this country is 100 percent a problem of not
having a wall on the border. And 70,000 Americans are dying every year. That’s more that died in the entire Vietnam War. That is a national emergency. ANN COULTER
ANN COULTER EXPOSES TRUMP’S “WALL” HOAX
In fact,
Trump is steadily moving in the precise opposite direction of what he promised.
Illegal immigration is on track to hit the highest levels in
more than a decade, and Trump has willfully decided to keep amnesty advocates
Jared, Ivanka, Mick Mulvaney, Marc Short, and Mercedes Schlapp in the White House.
For all his talk about immigration, did he ever consider hiring people who
share his MAGA vision?
WORKING
The
Most Successful Presidents Keep to Themselves
-- Not Twitter
https://townhall.com/columnists/michaelbarone/2019/04/26/the-most-successful-presidents-keep-to-themselves--not-twitter-n2545422
"The Mueller report makes Trump look vain, ignorant, inept, and
astonishingly dishonest." So writes my Washington Examiner colleague Quin Hillyer
///
PRESIDENT of the UNITED STATES DONALD TRUMP: Pathological
liar, swindler, con man, huckster, golfing cheat, charity foundation fraudster,
tax evader, adulterer, porn whore chaser and servant of the Saudis dictators
THE TRUMP FAMILY FOUNDATION SLUSH FUND…. Will they see jail?
VISUALIZE REVOLUTION!.... We know where they live!
“Underwood is a Democrat
and is seeking millions of dollars in penalties. She wants Trump and his eldest
children barred from running other charities.”
///
ANN COULTER
TRUMP’S PARASITIC FAMILY
Jared’s
BFF, Saudi Crown Prince Mohammed bin Salman (MBS), and the crown prince of Abu
Dhabi, Muhammad bin Zayed (MBZ), refer to Jared as “the clown prince.”
Bone-cutter MBS assured those around him that he had Jared “in my
pocket.”
*
Following meetings at the White House and also with
the Kushners over their 666 Fifth Avenue property, former Qatari Prime Minister
Sheikh Hamad bin Jassim reported back to the emir that “the people atop the new
administration were heavily motivated by personal financial interest.”
*
“Truthfully, It Is Tough To Ignore Some
Of The
Gross Immoral Behavior By The President” WASHINGTON
POST
///
(JOBS)
TRUMP’S
CRAP ON BORDERS AND HIS PRETEND WALL IS ONLY ONE MORE TRUMP HOAX!
Only a
complete fool would believe that Trump is any more for American Legal workers
than the Democrat Party for Billionaires and Banksters!
*
“Trump
Administration Betrays Low-Skilled American Workers.”
*
The
latest ad from the Federation for American Immigration Reform (FAIR) asks Trump
to reject the mass illegal and legal immigration policies supported by Wall
Street, corporate executives, and most specifically, the GOP mega-donor Koch
brothers.
*
Efforts by the big business
lobby, Chamber of Commerce, Koch brothers, and George W. Bush Center include
increasing employment-based legal immigration that would likely crush the historic wage gains that Trump has delivered
for America’s blue collar and working class citizens.
*
Mark
Zuckerberg’s Silicon Valley investors are uniting with the Koch network’s
consumer and industrial investors to demand a huge DACA amnesty
*
A handful of
Republican and Democrat lawmakers are continuing to tout a plan that gives
amnesty to nearly a million illegal aliens in exchange for some amount of
funding for President Trump’s proposed border wall along the U.S.-Mexico
border.
///
THE DEATH OF THE
AMERICAN MIDDLE-CLASS
THE ASSAULT ON THE AMERICAN WORKER BY
PHONY POPULIST SWAMP KEEPER TRUMP
Companies say they often pay good
wages to their imported H-2B workers, often around $15 per hour. But that price
is below the wages sought by Americans for the seasonal work which leaves them
jobless in the off-season. The lower wages paid to H-2Bs also allows companies
to pay lower wages to their American supervisors. NEIL MUNRO
///
WHAT WILL TRUMP AND
HIS PARASITIC FAMILY DO FOR MONEY???
JUST ASK THE
SAUDIS!
*
*
JOHN DEAN: Not
so far. This has been right by the letter of the special counsel’s charter.
He’s released the document. What I’m looking for is relief and
understanding that there’s no witting or unwitting likelihood that the
President is an agent of Russia. That’s when I’ll feel comfortable, and no
evidence even hints at that. We don’t have that yet. We’re still in the process
of unfolding the report to look at it. And its, as I say, if [Attornery General
William Barr] honors his word, we’ll know more soon.
*
“Our entire crony capitalist system, Democrat and
Republican alike, has become a kleptocracy approaching par with
third-world hell-holes. This is the way a great country is raided by
its elite.” ---- Karen McQuillan AMERICAN THINKER
///
ANN COULTER EXPOSES TRUMP’S “WALL” HOAX
In fact, Trump is steadily moving in the precise opposite
direction of what he promised.
Illegal immigration is on track to hit the highest levels in
more than a decade, and Trump has willfully decided to keep amnesty advocates
Jared, Ivanka, Mick Mulvaney, Marc Short, and Mercedes Schlapp in the White
House. For all his talk about immigration, did he ever consider hiring people
who share his MAGA vision?
///
TRUMP’S CATCH AND RELEASE… all the “cheap” labor climbing our
borders, jobs and welfare lines!
*
THE ENTIRE REASON TRUMP
NOMINATED KIRSTJEN NIELSEN WAS BECAUSE OF HER LONG HISTORY OF ADVOCATING OPEN
BORDERS TO KEEP WAGES DEPRESSED!
*
In newly confirmed federal data from the Immigration and Customs
Enforcement (ICE) agency, Breitbart News has learned the massive scale and
scope of DHS’s ramped up Catch and Release policy.
For months, DHS officials have said privately that the Catch and
Release program has been taken to new heights, while ICE
union officials declared this week that the program was
in “overdrive” under the direction of DHS Secretary Kirstjen Nielsen. JOHN BINDER
TRUMP AND THE MURDERING 9-11 MUSLIM SAUDIS…
Why is the Swamp Keeper and his family of parasites up their
ar$es??
///
TRUMP’S TAX BILL:
A massive tax cut for his plundering Goldman Sachs infested
administration.
///
TRUMP’S SECRET AMNESTY, WIDER OPEN BORDERS DOCTRINE TO KEEP
WAGES DEPRESSED.
"During the same month that
Schlafly had backed Trump for his “America First”
agenda, Nielsen’s committee
released an ideologically-globalist report, promoting
the European migrant crisis
as a win for big business who would profit greatly
from a never-ending stream
of cheap, foreign
migrants."
///
TRUMPERNOMICS FOR THE
RICH…. and his parasitic family!
Report:
Trump Says He Doesn't Care About the National Debt Because the Crisis Will Hit
After He's Gone
"Trump's
alleged comment is maddening and disheartening,
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
///
TRUMPERNOMICS:
THE RICH APPLAUD TWITTER’S
TRUMP’S TAX CUTS FOR THE SUPER RICH!
"The tax overhaul would mean an unprecedented windfall for the
super-rich, on top
of the fact that virtually all income gains during the period of
the supposed
recovery from the financial crash of 2008 have gone to the top 1
percent income
bracket."
(CRIMIALS, SANCTUARY STATES, TRUMPS’
VACILATION)
TRUMPS INFORMS NARCOMEX:
THE PACT BETWEEN MEXICO AND TRUMP… NO WALL, NO REAL
ENFORCEMENT.
http://mexicanoccupation.blogspot.com/2017/08/did-trump-promise-mexico-no-pardon-for.html
///
Swamp Keeper Trump prepares
for the inevitable move to impeach him and ask for asylum in Scotland.
Fox News host Tucker Carlson
said in an interview Thursday that President Donald Trump has succeeded as a
conversation starter but has failed to keep his most important campaign
promises.
“His chief promises were
that he would build the wall, de-fund Planned Parenthood, and repeal Obamacare,
and he hasn’t done any of those things,” Carlson told Urs Gehriger of the Swiss weekly Die Weltwoche.
///
TRUMP POSITIONS HIMSELF FOR IMPEACHMENT
MAY LEAVE THE COUNTRY FOR HIS GOLF COURSE IN
SCOTLAND
*
“Truthfully, It Is Tough To Ignore Some Of The Gross Immoral Behavior
By The President” WASHINGTON POST
*
“Mueller and the anti-Trump camp within the ruling elite know
very well that the billionaire New York real estate and gambling
speculator-turned president is mired in criminal activity, which is certain to
be reflected in the material seized from Cohen. They have Trump by the throat,
and Trump knows it.”
*
“Our entire crony capitalist system, Democrat and Republican
alike, has become a kleptocracy approaching par with third-world
hell-holes. This is the way a great country is raided by its elite.”
----Karen McQuillan AMERICAN THINKER
*
Former Trump lawyer Michael Cohen testified before the House Oversight
Committee Wednesday that the “whole Trump family” was potentially
comprised by a foreign power ahead of the 2016 presidential election.
///
SWAMP KEEPER TRUMP’S BIGGEST DEAL EVER:
Saving the 9-11 invading Saudis’ arses!
https://mexicanoccupation.blogspot.com/2018/11/mike-lee-swamp-keeper-trump-and-his.html
"I doubt that
Trump understands -- or cares about -- what message he's sending. Wealthy
Saudis, including members of the extended royal family, have been his patrons
for years, buying his distressed properties when he needed money.
“The Wahhabis finance thousands of
madrassahs throughout the world where young boys are brainwashed into becoming
fanatical foot-soldiers for the petrodollar-flush Saudis and other emirs of the
Persian Gulf.” AMIL
IMANI
I
recommend that Ignatius read Raymond Ibrahim's outstanding book Sword and Scimitar, which contains accounts of dynastic
succession in the Muslim monarchies of the Middle East, where standard
operating procedure for a new monarch on the death of his father was to
strangle all his brothers. Yes, it's awful. But it has
been happening for a very long time. And it's not going to change
quickly, no matter how outraged we pretend to be. MONICA SHOWALTER
///
SWAMP KEEPER TRUMP’S SECRET SAUDI MISSION:
“You saved my a rse again and again… So, I’ll
save yours like Bush and Obama did!
WHO IS FINANCING ALL THE TRUMP AND
SON-IN-LAW’S REFINANCING SCAMS???
FOLLOW THE MONEY!
"I doubt that Trump understands -- or cares about --
what message he's sending. Wealthy Saudis, including members of the extended
royal family, have been his patrons for years, buying his distressed properties
when he needed money. In the early 1990s, a Saudi prince purchased Trump's
flashy yacht so that the then-struggling businessman could come up with cash to
stave off personal bankruptcy, and later, the prince bought a share of the
Plaza Hotel, one of Trump's many business deals gone bad. Trump also sold an
entire floor of his landmark Trump Tower condominium to the Saudi government in
2001."
“The Wahhabis finance thousands of
madrassahs throughout the world where young boys are brainwashed into becoming
fanatical foot-soldiers for the petrodollar-flush Saudis and other emirs of the
Persian Gulf.” AMIL
IMANI
I recommend that Ignatius read Raymond
Ibrahim's outstanding book Sword and Scimitar, which contains accounts of dynastic
succession in the Muslim monarchies of the Middle East, where standard
operating procedure for a new monarch on the death of his father was to
strangle all his brothers. Yes, it's awful. But it has
been happening for a very long time. And it's not going to change
quickly, no matter how outraged we pretend to be. MONICA SHOWALTER
Report: Trump
Says He Doesn't Care About the National Debt Because the Crisis Will Hit After
He's Gone
"Trump's alleged comment is
maddening and disheartening,
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
but at least he's being straightforward about his indefensible
and self-serving neglect. I'll leave you with this reminder of the scope of the problem, not that anyone in power is going to do a damn thing about it."
TRUMPERNOMICS:
THE SUPER RICH APPLAUD
TWITTER’S TRUMP’S TAX CUTS FOR THE SUPER RICH!
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