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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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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 Road Warrior 04 (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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