[whell]

Here we go again.

https://www.cnsnews.com/news/article...-3854b-deficit

The federal government collected a record $2,007,451,000,000 in total taxes through the first seven months of fiscal 2018 (October through April), but still ran a deficit for that period of $385,444,000,000, according to the Monthly Treasury Statement.

The record total federal taxes collected during this period also included a record $1,050,601,000,000 in individual income taxes—marking the earliest in any fiscal year that individual income taxes have topped $1 trillion.

But even while the Treasury was collecting its record $2,007,451,000,000 in total taxes from October through April, it was spending $2,392,896,000,000—thus, accumulating a deficit of $385,444,000,000.

If this doesn't illustrate, and quite frankly blow up, the notion that somehow supply side economics is the central culprit in amassing deficits, than nothing will. The problem is not a revenue problem. Whatever the tax policy is - maximum taxation or some implementation of supply side theory - the issue isn't how much revenue the Federal Gov't is collecting or how. The issue is how fast that revenue is going back out the door with unbridled spending.