In what many economists are calling a total surprise, in the first month of tax cuts, the government actually collected a record number of taxes at  $361,038,000,000. The government spent $311,802,000,000 to run a surplus of approximately $49,236,000,000. The deficit for the fiscal year that began on October the first was $224,955,000,000, which means it has now been reduced to  $175,718,000,000. You would think after a year the economists would catch on that President Trump has worked miracles for the economy. It should no longer be a surprise.

From CNS News

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

 The Treasury not only collected record taxes in the month of January itself, but has now collected record tax revenues for the first four months of a fiscal year So far in fiscal 2018, the federal government has collected a record $1,130,550,000,000 in total taxes.
However, despite the record tax collections so far this fiscal year, and despite the one-month surplus in January, the federal government is still running a cumulative deficit in this fiscal year of $175,718,000,000.
More from CNS

“The Internal Revenue Service today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month,” the IRS said that day in a press release. “This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.

 “The updated withholding information, posted today on, shows the new rates for employers to use during 2018,” said the IRS release. “Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. They should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.”
With higher pay for many and the money that will be brought back to the United States thanks to the provision in the tax bill that some believe will amount to two trillion dollars at 15% in taxes will create a boom we haven’t seen since Reagan.

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