Outrageous: Feds Collect Record-High Taxes, Still Can't Pay Off Deficit

The government knows best what to do with the money they take from you.

The Washington Free Beacon has some extremely frustrating, but not at all surprising, news from the tax front: "Inflation-adjusted federal tax revenues hit a record $1.48 trillion for the first half of fiscal year 2016, but the federal government still ran a $461 billion deficit during that time."

That means the trillions in taxes the federal government plucked from America's hands through income taxes for individuals and businesses, retirement, unemployment, estate, gift taxes, and a thousand other ways, wasn't enough to cover the trillions the bloated behemoth spent in the same time frame.

From the Beacon's report:

The federal government collected $1,476,218,000,000 in the first half of fiscal year 2016. Most of the $1.48 trillion came from individual income taxes, which comprised almost half of that total, totaling $675 billion.

Although the federal government brought in a record of approximately $1.48 trillion in revenue in the first half of fiscal 2016, according to the Treasury, it also spent approximately $1.94 trillion, leaving a deficit of approximately $461 billion.

Disgusting! Imagine if you ran your homes and businesses like the feds run the government. It would be impossible. But with the federal government, nothing is impossible -- except being fiscally responsible.

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