After all the hand-wringing about the Tax Gap, wealthy tax evaders and Crpto cheats the US Treasury collected a record $283,927,000,000 in total taxes in October, which was the first month of fiscal 2022. However, Federal spending hit $448,983,000,000 in October, which was the second highest ever for the first month of a fiscal year.
Do these numbers demonstrate a need form more money, or a need to cut spending? That is ALWAYS the battel question.
Attorney Steven A. Leahy reviews the latest tax numbers.