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Feds collect record taxes (again), still run a deficit (again)

Published in Uncategorized on June 13, 2018 by Article V Patriot

The proof is in the pudding, and so far the Trump Administration hasn't departed from the previous White House when it comes to spending.

This from CNS News:

The federal government collected a record $1,143,141,000,000 in individual income taxes through the first eight months of fiscal 2018 (Oct. 1, 2017 through the end of May), according to the Monthly Treasury Statement released today.

Despite the record individual income tax collections, the federal government still ran a deficit of $532,241,000,000 over those same eight months, according to the Treasury statement.

The approximately $1,143,141,000,000 in individual income taxes that the Treasury collected in October through May of this fiscal year was $56,273,800,000 more (in constant May 2018 dollars) than the $1,086,867,200,000 (in constant May 2018 dollars) in individual income taxes that the Treasury collected in October through May of fiscal 2016—which was the previous record.

It's time to force the feds to take our nation's finances seriously. 

An Article V Convention of States can propose constitutional amendments that mandate a balanced budget and cap spending. These two amendments can, by themselves, force Congress to make the tough spending decisions they've so far refused to make.

If they don't, our children and grandchildren will be left to pay for the $21 trillion (and growing) national debt.

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