Drudge Retort: The Other Side of the News
Tuesday, May 08, 2018

The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks -- and this more to pay to Uncle Sam. All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001. CBO analysts were surprised by the surplus, which was some $40 billion more than they'd guessed at less than a month ago.

Advertisement

Advertisement

More

Alternate links: Google News | Twitter

Looks like economic gains in 2017 were greater than we'd thought. Thanks Obama.

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

The federal government took in a record tax haul in April

Well Dotard fixed that. Gonna replace that with lots and lots of red ink and suddenly just like that deficits don't matter anymore.

#1 | Posted by 726 at 2018-05-08 10:36 AM | Reply | Newsworthy 2

CBO analysts were surprised by the surplus, which was some $40 billion more than they'd guessed at less than a month ago.

Shocker.

#2 | Posted by Rightocenter at 2018-05-08 01:42 PM | Reply | Funny: 1 | Newsworthy 1

I like how you pretend April makes up for the other 11 months or the overall yearly deficit. It's friggin adorable.

#3 | Posted by Sycophant at 2018-05-08 02:01 PM | Reply

This is bad math. Its like selling a Prius for a concrete block; its cheaper, sure, but less effective for getting around.

In the same way, if trump saves the government some money but makes it useless; all he's done is cost us money.

#4 | Posted by IndianaJones at 2018-05-08 07:03 PM | Reply

This is a horrible statistic to gauge the health of the economy on. If no one paid taxes except in April, then it would also show gross receipts to be well above spending for the month... but it's not accurate to say the economy is healthy because of one month's numbers. Now if you can show gross receipts to be above spending for a year, now you're talking. but we all know with the current budget and tax cuts, all we expect to see in the future is red ink.

#5 | Posted by bartimus at 2018-05-08 10:38 PM | Reply | Newsworthy 1

Given that 2017 was a great year for the stock market, and April being when you are going to pay taxes on the gains of 2017, it of course is going to be huge. People lock in their gains. Then pay the taxes in April. There is no incentive to sell in December and pay the tax in December.

The CBO report verifies that as April withholding taxes were just barely above the previous year, but that other individual income taxes were up 70%.

#6 | Posted by 726 at 2018-05-09 02:45 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2018 World Readable

Drudge Retort