Something to keep in mind the next time someone says taxes are too low: Millions of American families haven’t had a raise in after-inflation incomes in years, but in Washington times are flush. On Wednesday the Treasury issued its final budget report on fiscal 2014, and the U.S. federal government rolled up record revenues of $3.013 trillion. To put it another way, Washington got an annual raise from taxpayers of 8.6% or $239 billion over fiscal 2013. The raise certainly wasn’t based on performance. Instead it was the windfall from a growing economy and higher tax rates.
Posted on: Thu, 16 Oct 2014 16:01:23 +0000
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