Originally published at: GREAT AGAIN: US Government Collects RECORD TAX HAUL in July | Sean Hannity
The United States treasury collected the highest level of personal income tax on record in July 2018, smashing estimates and taking-in more than $1.4 trillion just months after President Trump signed the sweeping tax overhaul into law.
According to CNS News, the federal government collected its highest recorded level of personal income tax on record in the second quarter of 2018 at $1,415,150,000,000; topping the previous record in the first ten months of 2017.
“In addition to the individual income taxes and corporation income taxes, the total taxes the federal government collected in October through July included $978,254,000,000 in Social Security and other payroll taxes; $70,755,000,000 in excise taxes; $18,761,000,000 in estate and gift taxes; $32,477,000,000 in customs duties; and $84,688,000,000 in miscellaneous revenues,” writes CNS.
The strong economic data may spell disaster for Democratic challengers just months before the 2018 midterm elections, with liberal candidates vowing to repeal the “GOP tax scam” should they retake control of Congress this fall.
Read the full report here.
