Flush with Cash: US Government Collects Record Taxes in 2015

Dec 2013
33,811
19,362
Beware of watermelons
Here you go skews;-)



With April 15 come and gone, let's have a look at how well the Federal government has been doing for itself in recent years.

It turns out things have been going quite well. In 2015, Federal receipts (well over 90 percent of which comes from taxes) hit an all time high of 3.2 trillion in 2009 dollars. In real terms, that's the highest level ever reached.

Naturally, revenues dropped, when measured year over year, from 2008 to 2009 due to the recession at the time. However, revenue began to quickly grow again, and has now rebounded well above what it was at the end of the last cyclical peak. Receipts had peaked at 2.56 trillion (in 2009 dollars) in 2007.


If we look at growth rates, we also find that tax receipts have been outpacing population growth in recent decades. Even if we accept that everything the government does is a good and essential thing, there's no reason for receipts to outpace population growth, especially for a government that is already as large, established, and immensely powerful as the US state. And yet, in 2015, the five-year growth rate in receipts was 41 percent, compared to 2.3 percent in population growth:


Growth rates declined in the aftermath of the recession, but revenue growth has been near 30-year highs since 2013.

One would think that, given all this growth, the US government might be covering its political liabilities. But, of course, that's not the case. The US government continues to spend far more than it collects in revenues. This has been financed partly by selling debt, which has been facilitated by open market manipulations on hte part of the central bank that enable the Treasury to continue to sell government debt at very low interest rates.



https://mises.org/blog/flush-cash-us-government-collects-record-taxes-2015
 
  • Like
Reactions: 4 people
Nov 2012
11,143
9,373
nirvana
Here you go skews;-)



With April 15 come and gone, let's have a look at how well the Federal government has been doing for itself in recent years.

It turns out things have been going quite well. In 2015, Federal receipts (well over 90 percent of which comes from taxes) hit an all time high of 3.2 trillion in 2009 dollars. In real terms, that's the highest level ever reached.

Naturally, revenues dropped, when measured year over year, from 2008 to 2009 due to the recession at the time. However, revenue began to quickly grow again, and has now rebounded well above what it was at the end of the last cyclical peak. Receipts had peaked at 2.56 trillion (in 2009 dollars) in 2007.


If we look at growth rates, we also find that tax receipts have been outpacing population growth in recent decades. Even if we accept that everything the government does is a good and essential thing, there's no reason for receipts to outpace population growth, especially for a government that is already as large, established, and immensely powerful as the US state. And yet, in 2015, the five-year growth rate in receipts was 41 percent, compared to 2.3 percent in population growth:


Growth rates declined in the aftermath of the recession, but revenue growth has been near 30-year highs since 2013.

One would think that, given all this growth, the US government might be covering its political liabilities. But, of course, that's not the case. The US government continues to spend far more than it collects in revenues. This has been financed partly by selling debt, which has been facilitated by open market manipulations on hte part of the central bank that enable the Treasury to continue to sell government debt at very low interest rates.



https://mises.org/blog/flush-cash-us-government-collects-record-taxes-2015
Socialism, Taxes, Rules and Regulations, OH MY!
 
  • Like
Reactions: 1 person
Apr 2016
652
642
Shady Dale, GA
Bernie's tax plan would really simplify the tax return form. Just two lines...

(Line 1) How much did you make?

(Line 2) Send it in.
 
  • Like
Reactions: 2 people
Feb 2014
12,580
7,845
nunya
RNG posted a few YouTube links w/ them but I haven't watched them yet
I watched them. Her lizardness has almost no change in her plan. Bernie's is a monsterous tax raise with no plan of paying off the deficit and creating new things to fund. Healthcare and free college. With doubt his tax raise would even cover the cost of that, etc. etc. Trump and Cruz both reduce the tax burden on the American people substantially from the top to the bottom. The decrease in revenue makes it impossible to sustain the current level of spending with the federal government. I failed to see that as a problem. The person presenting acted like it would be impossible to reduce federal spending. Then brought out the text book taking away senior citizen benefits, it will screw the veterans it will blah blah blah blah.
 
  • Like
Reactions: 1 person