Money & The Economy

Feds Collected $34,400 Per Household In Taxes In 2023

The federal government collected approximately $34,400 in taxes per American household in calendar year 2023, according to data published by the Treasury Department and the Census Bureau.

From January through December 2023, according to the Monthly Treasury Statements, the federal government collected a total of $4,521,306,000,000 in taxes.

The Census Bureau estimated there were approximately 131,434,000 households in the country last year.

When the $4,521,306,000,000 in total taxes is divided by the 131,434,000 households, it equals $34,399.82.

At the same time that it was collecting $4,521,306,000,000 in total taxes in 2023, the federal government was spending $6,305,077,000,000—thus, running a deficit of $1,783,771,000,000.

The 6,305,077,000,000 in spending the federal government did in calendar year 2023 worked out to $47,971.43 for each of the nation’s 131,434,000 households.

The $1,783,771,000,000 deficit the federal government ran in calendar year 2023 worked out to $13,571.61 for each of the nation’s 131,434,000 households.

The largest source of federal income in calendar year 2023 was the individual income tax, which brought in $2,196,901,000,000 in revenue. The second-largest source was social insurance and retirement taxes, which brought in $1,656,434,000,000.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org

Terence P. Jeffrey

Share
Published by
Terence P. Jeffrey

Recent Posts

Cyberattacks Targeting Water Utilities Becoming More Frequent And Severe, Biden Admin Warns

Cyberattacks targeting water utilities and their infrastructure are growing more in frequency and intensity, the…

10 hours ago

Biden’s Signature Bills Are Pumping Billions Into Swing States — But Will It Make A Difference In November?

President Joe Biden’s signature pieces of legislation are routing billions of dollars into swing states,…

10 hours ago

Universities Breed Evil

All my adult life, I have warned people about the low moral and intellectual level…

11 hours ago

How to Beat Inflation at the Supermarket

Could you handle a big announcement that overnight food costs in the United States have…

11 hours ago

Speak of The Devil

When Pope Francis said, “Conservatism is a suicidal attitude,” he insulted millions of Christians around…

11 hours ago

Does Freedom Of Speech Need To Be Redefined

By including Freedom of Speech in the First Amendment, our brilliant forefathers recognized the importance…

11 hours ago