Drudge Retort: The Other Side of the News
Tuesday, February 13, 2018

The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today. January was the first month under the new tax law that President Donald Trump signed in December. During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000

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So what?

All bad news.

#1 | Posted by BruceBanner at 2018-02-13 10:28 AM | Reply

The new withholding tables did not go into effect until February, so that was still under the old tax laws buddy.

#2 | Posted by 726 at 2018-02-13 11:36 AM | Reply | Newsworthy 1

And that is why Dotard is planning on a $1,000,000,000,000 deficit for 2019. Because tax revenues are so high.

Sheesh.

#3 | Posted by 726 at 2018-02-13 11:37 AM | Reply

You also know that January 15th is the final quarterly estimate due date for 2017 taxes right?

So the receipts have a lot to do with last years tax laws.

#4 | Posted by 726 at 2018-02-13 11:39 AM | Reply

" During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000"

And January 2017 the surplus was $51,257,000,000.
www.fiscal.treasury.gov

#5 | Posted by 726 at 2018-02-13 11:46 AM | Reply | Newsworthy 1

So, January is a common surplus month?

#6 | Posted by eberly at 2018-02-13 11:52 AM | Reply | Newsworthy 1

"You also know that January 15th is the final quarterly estimate due date for 2017 taxes right?
So the receipts have a lot to do with last years tax laws."

I suspect the author of that piece of propaganda knew that but just forgot to mention it.

#7 | Posted by danni at 2018-02-13 11:58 AM | Reply

so a little less than last year under Obama.
that number bounces around, though, so this is more a case of assigning meaning to a meaningless sum.

#8 | Posted by YAV at 2018-02-13 12:09 PM | Reply | Newsworthy 1

I'm surprised we have the numbers so quickly. Doesn't it normally take longer than a couple of weeks for the numbers to be finalized?

#9 | Posted by JeffJ at 2018-02-13 12:14 PM | Reply

Weren't there certain taxes best paid in advance to get more mileage under the old tax law than the new one?

In other words, is this because people front loaded taxes to get benefit they'll be losing once the new law kicks in?

#10 | Posted by jpw at 2018-02-13 12:47 PM | Reply

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Weren't there certain taxes best paid in advance to get more mileage under the old tax law than the new one?

In other words, is this because people front loaded taxes to get benefit they'll be losing once the new law kicks in?

Posted by jpw at 2018-02-13 12:47 PM | Reply

That makes way too much sense for the rubes to handle.

#11 | Posted by LauraMohr at 2018-02-13 12:49 PM | Reply | Funny: 1

"Weren't there certain taxes best paid in advance to get more mileage under the old tax law than the new one?"

Apparently so, I read an article about it last week but don't remember the specifics.

#12 | Posted by Gal_Tuesday at 2018-02-13 12:54 PM | Reply

Weren't there certain taxes best paid in advance to get more mileage under the old tax law than the new one?
In other words, is this because people front loaded taxes to get benefit they'll be losing once the new law kicks in?
#10 | Posted by jpw at 2018-02-13 12:47 PM

Those were State and Local Taxes (remember SALT?). They would not have any effect on federal taxes collected.

That makes way too much sense for the rubes to handle. - #11 | Posted by LauraMohr at 2018-02-13 12:49 PM
People that don't understand that state and local taxes are different than federal taxes may be ignorant of a fact, but I don't think it's ok to call them rubes.

#13 | Posted by Avigdore at 2018-02-13 01:06 PM | Reply | Funny: 1

Record Taxes First Month Under Tax Cut; Surplus in January

And there were even bigger record taxes the previous 2 Januarys before the tax cut:

There was a $51 billion surplus in January, 2017 without the tax cut (thanks Obama).
And there was a $55 billion surplus in January, 2016 without the tax cut (thanks Obama).
You're welcome.

#14 | Posted by Hans at 2018-02-13 01:12 PM | Reply | Newsworthy 1

Weren't there certain taxes best paid in advance to get more mileage under the old tax law than the new one?

In other words, is this because people front loaded taxes to get benefit they'll be losing once the new law kicks in?

#10 | Posted by jpw at 2018-02-13 12:47 PM | Reply | Flag:

That would have been state and local taxes such as state income or property taxes. Those would have had to have been paid into the state collectors by 12/31/17 to be deductible in 2017.

This is dealing with federal income tax payments, so they are unrelated.

#15 | Posted by 726 at 2018-02-13 03:12 PM | Reply

So spending is up under the Dotard. Likely due to all the vacations he is taking.

#16 | Posted by bored at 2018-02-13 05:40 PM | Reply

You also know that January 15th is the final quarterly estimate due date for 2017 taxes right?

So the receipts have a lot to do with last years tax laws.

#4 | Posted by 726

I guess the economy is doing great then.

#17 | Posted by Sniper at 2018-02-14 04:15 PM | Reply | Funny: 1

There was a $51 billion surplus in January, 2017 without the tax cut (thanks Obama).
And there was a $55 billion surplus in January, 2016 without the tax cut (thanks Obama).

You're welcome.

#14 | Posted by Hans

Tell me hands how is it o'bummers fault?

#18 | Posted by Sniper at 2018-02-14 04:17 PM | Reply

"...how is it o'bummers fault?" - #18 | Posted by Sniper at 2018-02-14 04:17 PM

You consider back-to-back January surpluses under President Obama, without the need for a tax cut, a "fault"?

Do you ever stop to think before you post? (Rhetorical question; answer in the negative is obvious.)

#19 | Posted by Hans at 2018-02-14 04:20 PM | Reply | Newsworthy 1

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