{"id":1436590,"date":"2022-04-13T23:44:40","date_gmt":"2022-04-14T03:44:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1436590"},"modified":"2022-04-13T23:44:44","modified_gmt":"2022-04-14T03:44:44","slug":"federal-government-rakes-in-record-2-1-trillion-in-tax-collections-through-march","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-government-rakes-in-record-2-1-trillion-in-tax-collections-through-march\/","title":{"rendered":"Federal Government Rakes in Record $2.1 Trillion in Tax Collections Through March"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-government-rakes-in-record-2-1-trillion-in-tax-collections-through-march%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1436590&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/media.breitbart.com\/media\/2018\/09\/dark-money-u.s.-capitol-dome-getty-flickr.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">The federal government collected a record $2,121,987,000,000 in taxes for the first half of fiscal year 2022, according to the U.S. Treasury\u2019s monthly\u00a0<a class=\"editor-rtfLink\" target=\"_blank\" rel=\"noopener\">statement<\/a>.<\/p>\n<p>The $2.1 trillion\u00a0<a class=\"editor-rtfLink\" target=\"_blank\" rel=\"noopener\">collected<\/a>\u00a0from October 2021 to March 2022 is the most the federal government has collected in the first half of a fiscal year and the first time government tax collections surpassed $2 trillion for that period. Before the first half of fiscal year 2022, the highest taxes ever collected during the first six months of a fiscal year came in fiscal year 2021, when the government collected $1,849,508,090,000 in taxes.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>As CNS News\u00a0<a class=\"editor-rtfLink\" href=\"https:\/\/www.cnsnews.com\/article\/washington\/terence-p-jeffrey\/2121987000000-federal-tax-collections-set-record-through-march\" target=\"_blank\" rel=\"noopener\">explained<\/a>, with historical dollar figures converted into constant March 2022 dollars using the Bureau of Labor Statistics inflation calculator:<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<blockquote>\n<p>The record $2,121,987,000,000 in total taxes that the Treasury collected in the first half of this fiscal year included $1,124,485,000,000 in individual income taxes; $697,779,000,000 in social insurance and retirement taxes; $127,259,000,000 in corporation income taxes; $48,559,000,000 in customs duties; $38,712,000,000 in excise taxes; $14,275,000,000 in estate and gift taxes; and $70,917,000,000 in what the Treasury calls \u201cmiscellaneous receipts.\u201d<\/p>\n<\/blockquote>\n<p>Despite this massive tax collection, the federal government still ran a more than $600 million deficit. With government spending at $2,790,254,000,000 during the first six months of fiscal year 2022, the deficit reached $668,267,000,000.<\/p>\n<p>The U.S. Department of Health and Human Services\u00a0<a class=\"editor-rtfLink\" href=\"https:\/\/www.cnsnews.com\/article\/washington\/terence-p-jeffrey\/2121987000000-federal-tax-collections-set-record-through-march\" target=\"_blank\" rel=\"noopener\">led<\/a>\u00a0all federal agency spending, coming in at $793,880,000,000. In second place was the Social Security Administration, which spent $622,933,000,000. Next was the Defense Department\u2019s Military Programs, on which the federal government spent $358,398,000,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government collected a record $2,121,987,000,000 in taxes for the first half of fiscal year 2022, according to the U.S. Treasury\u2019s monthly\u00a0statement. The $2.1 trillion\u00a0collected\u00a0from October 2021 to March<\/p>\n","protected":false},"author":34,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1436590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1436590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1436590"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1436590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1436590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1436590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1436590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}