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WH Predicts: Taxes Will Hit Record $3T in FY14--$29,673 Per Full-Time Worker
CNSnews.com ^ | 11/14/13 | Terence P. Jeffrey

Posted on 11/14/2013 1:42:19 PM PST by Nachum

(CNSNews.com) - The latest Monthly Treasury Statement, which was released on Wednesday afternoon, relies on the estimate made by the White House Office of Management and Budget to say that federal tax revenues will top $3 trillion for the first time in the nation’s history in fiscal 2014.

In fact, the record $3,023,004,000,000 in tax revenues that the White House is predicting the federal government will rake in during fiscal 2014 not only exceeds the inflation-adjusted revenue taken in by the government in any previous year, it also equals $29,673 in tax revenue for every full-time worker in the country.

It is also equals $9,534 for every man, woman and child currently living in the country.

Until now, the record-setting year for inflation-adjusted federal tax revenues was fiscal 2007. In that year, the federal government brought in $2,899,644,380,000 in constant 2013 dollars.

If the White House is correct that total federal tax receipts will hit $3,023,004,000,000 in fiscal 2014, that would represent an increase of $123,359,620,000 in constant 2013 dollars over fiscal 2007's record tax haul of $2,899,644,380,000. Real tax revenues this year, according to the White House estimate, will be 4.25 percent higher than they have ever been. - See more at: http://cnsnews.com/news/article/terence-p-jeffrey/wh-predicts-taxes-will-hit-record-3t-fy14-29673-full-time-worker#sthash.35cgmivz.dpuf

(Excerpt) Read more at cnsnews.com ...


TOPICS: Breaking News; Government; News/Current Events
KEYWORDS: 404; guarantee; nevermind; period; taxes; worker
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Check is in the mail...

I love you...

and.. er

I promise not raise your taxes

1 posted on 11/14/2013 1:42:19 PM PST by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 11/14/2013 1:43:45 PM PST by Nachum (Obamacare: It's. The. Flaw.)
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To: Nachum

Obamacare Tax has kicked in....If you make more than $200,000 your taxes have increased


3 posted on 11/14/2013 1:44:20 PM PST by Paratrooper
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To: Nachum
Between Obama fines, the 3.8% taxes on your home and so forth, government will have more of your money to misspend.
4 posted on 11/14/2013 1:46:02 PM PST by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
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To: Nachum

Please someone explain to me why no one realizes that we are halfway to communism? (the government is the only employer, the only source of goods, and the owner of all property)


5 posted on 11/14/2013 1:46:08 PM PST by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

6 posted on 11/14/2013 1:48:19 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: I want the USA back

Because most have never seen communism; its something from the past they have no idea about, sounds che cool, but are too thick to realize they are in the midst of it. Witness some of the idiots in CA literally saying the loved obamacare until they just recently found out they have to pay for it.
This country is going to be crushed soon and those that couldn’t take time out to educate themselves to what is happening will be the ones turning feral on you and I. Keep stocking up, beans and bullets; lots of bullets.


7 posted on 11/14/2013 1:51:28 PM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: Nachum

But there won’t be any full time workers!.....................


8 posted on 11/14/2013 1:52:46 PM PST by Red Badger (Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
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To: Nachum
I noticed about two years ago that if you look at the Federal Revenue Outlays data sheets, they estimate how deficit growth will fall. Their solution? MORE REVENUE! That is the ONLY way the deficit growth goes down, because the outlays continue to grow! We are really going to have $4T in revenue by 2018?

Fiscal Year 2014 Historical Tables


9 posted on 11/14/2013 1:56:51 PM PST by Eagle of Liberty (Be the Enemy Within the Enemy Within...)
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To: Nachum
The trillions borrowed go directly to banksters and crony capitalists on Wall Street while the rest of us are whipped like mules to pay more taxes and support illegal aliens and Obamaphones for the undeserving poor.

A real revolution is needed.

10 posted on 11/14/2013 2:04:45 PM PST by pierrem15 (Claudius: "Let all the poisons that lurk in the mud hatch out.")
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To: Eagle of Liberty

LOL....

1) That is from the Whitehouse
2) That little word; “estimate”

Millions have no clue they are going to be paying double if not quadruple for “healthcare” very, very soon. This administration has already shown it cares not for the law so how long before many wake up to their bank accounts emptied by the IRS justifying “their fair share”? (think it won’t happen? just wait) The economy tanks then. Dollars don’t move hence dollar’s will no longer create wealth. Then we get the lovely employer mandate next year. Business grinds to a halt. Welcome to communism. Our retirements are going to be raided in a few short years; that you can bank on.


11 posted on 11/14/2013 2:06:41 PM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: DJ MacWoW

sentence #5 should be #1:
0 and clintoons used the ‘tax the rich’, wealth envy angle for political gain. However too many low information voters don;t get that if they work and get a paycheck, they are the ‘rich’ that are going to see their taxes raised.


12 posted on 11/14/2013 2:13:55 PM PST by jonose
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To: Nachum

So which influential political constituent groups will get their hands on more of that money, and which ones will lose more?


13 posted on 11/14/2013 2:15:05 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: familyop

Ha. The ones that are fully infiltrated by the communists.


14 posted on 11/14/2013 2:16:46 PM PST by Nachum (Obamacare: It's. The. Flaw.)
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To: Nachum
I'm so happy for the government.

Meanwhile, on the home front, I finally got a job after looking for a year --at 20% less than my previous job, and with no benefits.

15 posted on 11/14/2013 2:25:25 PM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: St_Thomas_Aquinas

Glad to hear your employed. At least there is that.


16 posted on 11/14/2013 2:27:54 PM PST by Nachum (Obamacare: It's. The. Flaw.)
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To: Nachum

However, due to Obamacare more people will be working two PT jobs by then to make ends meet.


17 posted on 11/14/2013 2:30:49 PM PST by matt04
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To: Nachum

It’s not enough ... we need more revenue ... < /sarc>


18 posted on 11/14/2013 2:31:45 PM PST by dartuser
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To: Nachum
Glad to hear your employed. At least there is that.

Thanks. Yes, I'm glad for that.

I just wanted to emphasize the decline in private sector wages, along with the high unemployment. Meanwhile, back in D.C., they're drinking champagne from slippers.

19 posted on 11/14/2013 2:33:38 PM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: St_Thomas_Aquinas

Hey, I am in the heath insurance business and am watching what I have built for more than two decades turn to crap.


20 posted on 11/14/2013 2:35:35 PM PST by Nachum (Obamacare: It's. The. Flaw.)
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To: Nachum

As the work force declines and taxes increase, a breaking point will inevitably be reached. Maybe not suddenly, but certainly violently.


21 posted on 11/14/2013 2:39:26 PM PST by Sopater (Is it not lawful for me to do what I will with mine own? - Matthew 20:15a)
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To: Nachum
$29,673 Per Full-Time Worker

Worker HELL, more like SLAVE LABORER! American "citizens" can't even move to another country to get away from the federal government taxing your labor for life without denouncing that which our forefathers established.

Something has went horribly wrong with America...

22 posted on 11/14/2013 3:02:06 PM PST by Errant
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To: Nachum

$29,673 Per Full-Time Worker

About 25 years ago, I would have liked to have had a salary like that.
23 posted on 11/14/2013 3:16:03 PM PST by Sopater (Is it not lawful for me to do what I will with mine own? - Matthew 20:15a)
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To: Nachum

The government will never get the 3 trillion they are forecasting.

The more taxes, regs etc are imposed by the government, the more the individual will seek ways to avoid them...underground economy anyone...and many will scale back business along with person income... Law of diminishing returns......


24 posted on 11/14/2013 3:20:55 PM PST by Le Chien Rouge
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To: Nachum

25 posted on 11/14/2013 3:27:40 PM PST by Lucky9teen (No problem can be solved from the same level of consciousness that created it. ~ Albert Einstein)
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To: Nachum

Whatever the amount of the revenues, only 50% is paying them!


26 posted on 11/14/2013 3:51:45 PM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: Nachum

Maybe the next movie in the “Hunger Games” series will wake up the college age/young 20s generation. The “Capitol” in the books is just as disgusting, decadent, oppressive and tyrannical as the “Capitol” in our nation.

Will they add together the anquish caused by Obama and Obamacare and start to see the light when they watch the next movie?

I can dream.


27 posted on 11/14/2013 3:55:53 PM PST by boxlunch (Psalm 2)
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To: matt04

That is problem #11,387 with obastard care and it is just so yesterday. /sarc

There are so many serious problems with this mess we are in you can have a new crisis every day and that is what they thrive on.


28 posted on 11/14/2013 4:11:16 PM PST by Sequoyah101
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To: Nachum
" I promise not raise your taxes "

On taxes that they have no thought of, yet.
29 posted on 11/14/2013 4:41:46 PM PST by American Constitutionalist
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To: Nachum

How many ‘full time’ workers will the USA even have in about another year???


30 posted on 11/14/2013 4:45:41 PM PST by ridesthemiles
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To: Sopater

Hell, I didn’t make that until about 15 years ago and lived pretty much like I do now, making more than twice that.


31 posted on 11/14/2013 6:27:53 PM PST by GrouchoTex (...and ye shall know the Truth and the Truth shall set you free....)
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To: Sopater

The average wage per full time worker in the US in 2011 (as per Wikipedia (yeah, I know)), was $54,450. Federal taxes (at $29,673) would take 55% of that. Then, of course, state and local taxes in all their various forms would take another large chunk of the remainder. And the funny thing is, IT STILL WOULDN’T BE ENOUGH.


32 posted on 11/14/2013 6:29:02 PM PST by fhayek
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33 posted on 11/14/2013 6:38:01 PM PST by RedMDer (Happy with this, America? Make your voices heard. 2014 is just around the corner. ~ Sarah Palin)
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To: Nachum
federal tax revenues will top $3 trillion

$3,000,000,000,000? A mere drop in the bucket compared to the 100+ trillion total national debt. Puny.

34 posted on 11/14/2013 6:55:21 PM PST by upchuck (I can't stand people that don't know the difference between 'your' and 'you're.' Their so stupid...)
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To: St_Thomas_Aquinas

Congrats on your new job! That’s super.


35 posted on 11/14/2013 6:59:07 PM PST by upchuck (I can't stand people that don't know the difference between 'your' and 'you're.' Their so stupid...)
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To: Paratrooper
Obamacare Tax has kicked in

I finally got my SS statement and my Medicare Advantage Statement today. Although my Advantage plan still is 0, my dental part now costs $36/mo., so my monthly stipend from SS will go down. Also, they have imposed a specific network of doctors on me when, previously, any doctor who accepted Medicare patients was OK.

Furthermore, co-pays have increased, as well as deductibles, so the whole plan is more expensive than it was previously. And there are no network doctors, or hospitals, in certain parts of the country. I still haven't seen a list of acceptable doctors.

36 posted on 11/14/2013 7:45:53 PM PST by afraidfortherepublic
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To: afraidfortherepublic

Aren’t the Advantage plans going to be ended in about a year?


37 posted on 11/14/2013 9:19:43 PM PST by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: Nachum

And they’ll STILL need to borrow 40% of every dollar spent on government programs!


38 posted on 11/14/2013 10:22:07 PM PST by boatbums (God is ready to assume full responsibility for the life wholly yielded to Him.)
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To: Nachum

My husband was happy when he reached 15 years at his present employer at the beginning of 2013. It meant a decent raise and was a big deal to him personally and professionally.

I think he ended up bringing home an extra $25 a week. This was the “big raise” after new taxes were taken out. At least it was still a net positive, but it was suppose to be a lot more.


39 posted on 11/14/2013 11:33:55 PM PST by MacMattico
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To: Nachum

there are very few full time workers in private sector any more, people who made #4—60 K per year are now working Min wage jobs PT.

My son’s new PT min wage job is putting price tags on clothes for TJ Max.

Our taxes went up 2 years in a row, cause fees are taxes. We got kicked out of the 7% bracket for med deductible into filing that stupid short form because this year we will go to 10% deductions, and we can’t meet that, not even with the all the meds we both take and he takes 2 of our highest priced Co-pay drugs, and the new glasses I need each year which are not cheap box store stuff, I have to have the high end Zeiss OR they’d never get my vision corrected to even the 20/25 they can only manage because of the Zeiss lenses.


40 posted on 11/15/2013 1:18:52 AM PST by GailA (THOSE WHO DON'T KEEP PROMISES TO THE MILITARY, WON'T KEEP THEM TO U!)
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nevermind


41 posted on 11/15/2013 4:31:03 AM PST by devolve (- "He's (Obama) just 'too talented' to do what 'ordinary people' do." - Iranian-born Valerie Jarrett)
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To: Bushbacker1

“Whatever the amount of the revenues, only 50% is paying them!”

Actually, I think the correct statistic is that only about 50% are paying income taxes. However, a much larger share of Americans are paying federal taxes in the form of payroll taxes. These taxes are used, like income taxes, to pay for whatever bills the government incurs. I think that now the federal government collects more money in payroll taxes than in income taxes.


42 posted on 11/15/2013 5:45:26 AM PST by paristexas
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To: Nachum

If you like the income you earn, you can keep the income you earn. Period.


43 posted on 11/15/2013 5:49:39 AM PST by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: Ghost of SVR4

“Then we get the lovely employer mandate next year.”
Many ‘Progressives’ believe that even if employers stop offering insurance, they will be compensated with higher wages. I can’t wait to hear the wailing when TSHTF.
My 91y.o. German mother warns of the actions of a government that has been wounded and cornered. Authorities easily direct a desperate public toward scapegoats.


44 posted on 11/15/2013 6:53:08 AM PST by griswold3 (Post-Christian America is living on borrowed moral heritage)
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To: VerySadAmerican

You didn’t earn that income.


45 posted on 11/15/2013 6:53:38 AM PST by ecomcon
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To: I want the USA back

Is it time yet?...

Or is this just the cost of freedom showing.


46 posted on 11/15/2013 9:49:12 AM PST by EGPWS (Trust in God, question everyone else)
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To: Nachum

——aaaannnndddddd the white hut has plans to spend every dime of it-—whether it comes in or not. I’m going to hold back a little on my 29K$ part. You folks that actually are paying that much need a better accountant.


47 posted on 11/15/2013 10:39:06 AM PST by cherokee1 (skip the names---just kick the buttz)
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To: Nachum
They won't confiscate another penny from me in federal taxes.

As of a few months ago I have gone 100% Galt and my income is now $0.00 per year.

I had been paying about 38% of my income to FedGov for the last few decades.

They can go pound sand.

48 posted on 11/16/2013 11:06:49 AM PST by Gabrial (The nightmare will continue as long as the nightmare is in the Whitehouse.)
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To: Nachum

Comrade Obamao says : “If you like this bird I’m flipping, you can keep it”.


49 posted on 11/16/2013 1:11:29 PM PST by rfp1234 (Impeach We Much!)
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To: Nachum

$3,023,004,000,000 = We’re broke so have to shut down the government. Sorry, that doesn’t compute.


50 posted on 11/16/2013 3:39:28 PM PST by bgill (This reply was mined before it was posted.)
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