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 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.