Federal Tax Revenues Surge
May. 11th, 2007 02:18 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ymarkovTax receipts for April were $70 billion above the same month in 2006, and April 24 marked the single biggest day of tax collections in U.S. history, at $48.7 billion, according to the latest Treasury report.
Revenues for the first seven months of fiscal 2007 are up 11.3%, or $153 billion. So far this year, the taxes paid on so-called nonwithheld income, which are dollars that don't come from normal wages and salaries, have climbed by nearly 30%. This is income largely derived from capital gains, dividends and other investment sources -- i.e., sources on which the tax rates were cut in 2003. Individual income taxes are also up by 17.5% -- a handsome fiscal dividend from rising wages and low unemployment.
Revenues for the first seven months of fiscal 2007 are up 11.3%, or $153 billion. So far this year, the taxes paid on so-called nonwithheld income, which are dollars that don't come from normal wages and salaries, have climbed by nearly 30%. This is income largely derived from capital gains, dividends and other investment sources -- i.e., sources on which the tax rates were cut in 2003. Individual income taxes are also up by 17.5% -- a handsome fiscal dividend from rising wages and low unemployment.
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no subject
Date: 2007-05-11 08:28 pm (UTC)no subject
Date: 2007-05-13 03:12 am (UTC)or did they like the revenue so much, they aren't sharing it?
*sarcastic*