U.S. Congressman Kevin Brady of Texas, the top House Republican on the Joint Economic Committee made the following comment on a new Joint Economic Committee staff analysis of federal revenues.
“If ever there was proof that ‘Washington doesn’t have a revenue problem, it has a spending problem’, this is it. The federal government is gorging on the earnings of hardworking taxpayers, and yet President Obama and congressional Democrats demand more. Washington has all the money it needs, just not all the money it wants – it needs to learn the difference.”
During the twelve month period ending June 2015, the federal government collected $10,060 per person from United States’ residents and military personnel serving abroad.
After adjusting for inflation, this marks the fourth highest per person revenue collections over a twelve month period on record. The highest recorded revenues over a twelve month period, adjusted for inflation, was the twelve month period ending April 2001 when the federal government collected $10,144 (June 2015 dollars).
The brief analysis notes that if the current trend in per person revenue collections continues a new record may be set by the end of the fiscal year in September.