$1,084,840,000,000: Taxes Set Record Through January; $7,133 Per Worker; Feds Still Run Deficit of $156,939,000,000

(CNSNews.com) – The U.S. Treasury hauled in a record of approximately $1,084,840,000,000 in tax revenues in the first four months of fiscal 2017 (Oct. 1, 2016 through Jan. 31, 2017), according to the Monthly Treasury Statement released today.

That is up about $5,616,000,000 in constant 2016 dollars from the approximately $1,079,224,000,000 in constant 2016 dollars that the Treasury collected in the first four months of fiscal 2016.

Tax revenues from previous years, as reported in the Monthly Treasury Statement for January of each year, were adjusted to 2016 dollars using the Bureau of Labor Statistics Inflation Calculator.

Despite collecting a record $1,084,840,000,000 in tax revenues in the first four months of this fiscal year, the federal government turned around and spent $1,241,780,000,000 in those same four months—and ended up running a deficit of $156,939,000,000.

In January alone, the Treasury collected approximately $344,069,000,000 in tax revenues.

The largest portion of the $1,084,840,000,000 in federal tax revenues in the first four months of this fiscal year came from the individual income tax, which yielded approximately $550,068,000,000.

The second largest portion came from Social Security and other payroll taxes, which brought in approximately $361,887,000,000.

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