First Half of Current Fiscal Year a Record-Breaker for U.S. Treasury

Fiscal,Year,Symbol.,Concept,Words,'fiscal,Year',On,Wooden,Blocks

It’s been another record year for the federal government so far, which is in the midst of its current fiscal year. At the end of March, when the government reached its halfway point of the 2016 fiscal year, it had already collected $1.48 trillion. One might think that this massive haul would help ease the nation’s federal deficit. However, despite the record intake, the federal government still finds itself in the hole to the tune of $461 billion.

According to the U.S. treasury Department, the amount of taxes it has collected from October 2015 through March of this year has been greater than any other previous fiscal year on record. That even takes adjustment for inflation into consideration.

The Treasury Department counts revenues from several sources, including individual income taxes, unemployment insurance taxes, social insurance and retirement taxes, estate and gift taxes, corporate income taxes, excise taxes and a few other items. Of the $1.48 trillion collected so far this fiscal year, the majority comes from individual income taxes, which accounts for nearly half of the total, at $675 billion.

By way of comparison, last year, the federal government collected a total of $3.24 trillion in taxes for the entire 2015 fiscal year.

Posted in
Finding a Niche in the Hispanic Market for your Small Business; family offices after the era of COVID 19

Finding a Niche in the Hispanic Market for your Small Business

Finding a Niche in the Hispanic Market for your Small Business Book Summary Part 1 of 7: The Power of Business en Espanol, 7 Fundamental Keys to Unlocking the Potential of the Spanish-Language Hispanic Market by Jose Cancela Marketing to the Hispanic demographic could pay big dividends to the tune of nearly $1 trillion in…

Slogans: Creating and Using Them In Life, Career and Business

Slogans: Creating and Using Them In Life, Career and Business

Slogans: Creating and Using Them In Life, Career and Business By Catherine Franz Information is coming at us from all directions nowadays. This pace requires us to demand that we receive it fast and predigested in order to inch ahead of the game. This also requires a new filing system method for storing the bites…

Market Yourself Through Public Speaking

Market Yourself Through Public Speaking As part of your marketing strategy, a noteworthy way for you to get exposure and new customers is public speaking. Public speaking is a powerful way to get new customers and leads, so be sure to incorporate it into your quiver of marketing techniques. By Wendy Maynard A noteworthy way…

Selling Your Success

Selling Your Success

Selling Your Success By Dean Mercado Looking for simple marketing and sales techniques to differentiate your business from the competition? Well here are 3 key ones that will help you humanize and personalize your marketing and sales approach to draw prospects in like a magnet! I attended a seminar the other day at a local…