$765,645,000,000: FY2016 Taxes Set Record Through December; $5,107 Per Worker; Feds Still Run $215.5B Deficit
(CNSNews.com) - The federal government took in a record of approximately $765,645,000,000 in tax revenues in the first three months of fiscal 2016 (Oct. 1, 2015 through Dec. 31, 2015), according to the Monthly Treasury Statement released today [1].
That equaled approximately $5,107 for every person in the country who had either a full or a part-time job in December.
It is also an increase of about $24,288,810,000 in constant 2015 dollars from the $741,356,190,000 in revenue (in constant 2015 dollars) that the Treasury took in during the first three months of fiscal 2015.
[2]
As it was hauling in these record revenues, the Treasury spent approximately $981,190,000,000, and ended up the first three months of the fiscal year with a deficit of approximately $215,546,000,000, according to the monthly statement.
According to the Bureau of Labor Statistics, total seasonally adjusted employment in the United States in December (including both full and part-time workers) was 149,929,000. That means that the record federal tax revenue of 765,645,000,000 that the Treasury has pulled in so far this fiscal year already equals approximately $5,107 per worker.
In December 2014, there were 147,439,000 people employed in the United States. So, the then-record of $741,356,190,000 in revenues the Treasury pulled in during the first three months of fiscal 2015 (Oct.-Dec. 2014) equaled approximately $5,028 per worker.
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