Your Opinion: Taxation reaches historic highs

Dear Editor:

For those who think the federal government needs more money.

The following figures are from the latest treasury statement. The feds extracted $2,446,920,000,000 ($2.446 trillion) from our economy during just the first nine months of FY2015 (through June). Current estimates are that the feds will extract a FY2015 total of $3.176 trillion ($27,000 for every U.S. household, over $100,000 collected every second of the year) the most ever. Federal revenues for FY 2014 were previously the most ever extracted by the feds. The statement estimated that FY2016 collections would increase even further to $3.525 trillion.

Even with the highest taxes ever extracted from American citizens the feds will still manage to run a massive $583 billion deficit for the year, about $100 billion (20 percent) more than in FY2014. Prior to FY2009 we never had a deficit as large as the one projected for FY2015. Where are the savings from the dreaded sequestration cuts that were going to devastate our economy?

Whose pockets are being stuffed with all this money? We aren't fighting full-fledged wars in Iraq and Afghanistan and unemployment is down to 5.3 percent. Is all this money being used to hand out even more goodies, to buy more Democrat votes? If not, where is it going?

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0615.pdf

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