Newsmax - U.S. Tax Revenue Hit All-Time High in April

Amid calls from some for tax increases to deal with the deficit, the federal government collected $406.72 billion in April — the all-time noninflation-adjusted high for a single month.

Overall federal tax receipts in April were up 28 percent from April of last year, according to the Monthly Treasury Statement from the U.S. Treasury.

April is almost always the peak month for tax revenue, since tax returns — and payments of taxes owed — are due on April 15.

The previous monthly high was $403.8 billion in April 2008.

The Treasury collected $240.2 billion in individual income taxes in April, about 36 percent more than the $178.5 billion collected in April 2012.

Other revenue included about $96 billion in employment and general retirement taxes, $36 billion in corporate taxes, $9.8 billion in unemployment insurance taxes, $6.9 billion in excise taxes, $5.8 billion in estate and gift taxes, and $2.5 billion in customs duties.

Due to the record tax revenue, the federal government ran a surplus of $112.9 billion in April. But in the first seven months of fiscal 2013, October through April, the government has run a deficit of $487.6 billion.

Outlays totaled $293.8 billion in April. The largest amount went to the Department of Health and Human Services, which administers Medicare — $75.3 billion.

Next were the Social Security Administration ($71.7 billion), Department of Defense-Military Programs ($46.5 billion), and Interest on Treasury Debt Securities ($35.9 billion).

Interest on the debt is expected to cost taxpayers more than $420 billion this fiscal year.

US House Republicans - It's Tax Day -- check out our latest video!

In honor of the day all Americans love, please take a minute to watch the House Republican Conference’s latest video, “Tax Day,” which can be found here.  Sixty-three percent of Americans think no new taxes are needed – and 9 out of 10 taxpayers have to hire a professional just to prepare their taxes.  I encourage you to watch and share the video with your readers!

Medical Excise Tax on Retail Receipts

Received via email!  /bobdm

This is an image of a sales receipt from Cabelas, a popular sporting goods store. “The 2.3% Medical Excise Tax that began on January 1st is supposed to be ‘hidden’ from the consumer, but it’s been brought to the public’s attention by hunting and fishing store Cabela’s who have refused to hide it and are showing it as a separate line item tax on their receipts,” the email states.

I did some research and found directly from the IRS's website information that PROVES this to be true and an accurate portrayal of something hidden in Obamacare!

Q1. What is the medical device excise tax? A1. Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device. Q2. When does the tax go into effect? A2. The tax applies to sales of taxable medical devices after Dec. 31, 2012. Q3. How much is the tax? A3. The tax is 2.3 percent of the sale price of the taxable medical device. See Chapter 5 of IRS Publication 510, Excise Taxes, and Notice 2012-77 for additional information on the determination of sale price.

IRS.gov

Chapter Five http://www.irs.gov/publications/p510/ch05.html

So being more curious I clicked on "Chapter 5 of IRS Publication 510" And WALLAH! What do I find under "MEDICAL DEVICES" under "MANUFACTURERS TAXES"?

Manufacturers Taxes:

Sport fishing equipment;
Fishing rods and fishing poles;
Electric outboard motors;
Fishing tackle boxes;
Bows, quivers, broadheads, and points;
Arrow shafts;
Coal;
Taxable tires;
Gas guzzler automobiles; and
Vaccines.

I think we have definitely been fooled, if we believe that the
Affordable Care Act is all about health care. It truly does appear
to be nothing more than a bill laden with a whole lot of taxes
that we the people have yet to be aware of!

Rep Laura Jones Facebook - Speaker O'Brien: LIST OF GOP REPS WHO VOTED TO INCREASE NEW HAMPSHIRE’S GAS TAX BY A BILLION DOLLARS

Rep Laura Jones

5:31am Mar 7

From former Speaker O'Brien: LIST OF GOP REPS WHO VOTED TO INCREASE NEW HAMPSHIRE’S GAS TAX BY A BILLION DOLLARS

David Hess (Hooksett), Deputy Republican Leader
Shawn Jasper (Hudson), Republican Whip
Frank Tilton (Laconia)*
... Mark McConkey (Freedom)
John Graham (Bedford)
Dave Danielson (Bedford)+ o
Charlene Takesian (Pelham)* + o
David Kidder (New London)* + o
Priscilla Lockwood (Canterbury)+ o
Bill Friel (Atkinson)
Aboul Khan (Seabrook)+ o
Dave Milz (Derry)
Kevin Waterhouse (Windham)+
John Sytek (Salem)
Jim Grenier (Goshen)* +

* Voted for 25% home heating oil tax increase

+ Voted against super-majority to tax ballot question

o Voted against right to work

The Republican constituents of these representatives have to talk with them about whether they are in the Big Tent or the wrong tent.

Voting to increase the gas tax by 83% after some of them voted to pass a 25% increase on the gas tax bill, not to allow a ballot question about a super-majority to raise taxes, and not to allow Right to Work has nothing to do with keeping their promise not just to run as Republican candidates, but also to vote as a Republican legislators.

BTW, if you want to use the information on this posting or even cut and paste it as your own, go ahead. Otherwise, please keep it on this FB page for our use.

Newsmax - November Election Called Blue-State ‘Suicide Pact’

Voters in blue states who went solidly for President Obama’s re-election are ironically those who will suffer the most from the tax-the-rich policy promoted by Obama.

“With their enthusiastic backing of President Obama and the Democratic Party on Election Day, the bluest parts of America may have embraced a program utterly at odds with their economic self-interest,” observes Joel Kotkin, executive editor of NewGeography.com.

“The almost uniform support of blue states’ congressional representatives for the administration’s campaign for tax ‘fairness’ represents a kind of bizarre economic suicide pact.”

Raising taxes on the so-called rich — defined as households making over $250,000 a year — will have the strongest impact on blue states that depend largely on the earnings of high-income professionals including doctors and lawyers, entrepreneurs, and technical workers, he points out. The states and metropolitan areas that have the highest concentration of these people are overwhelmingly in the bluest states.

But the higher taxes will have far less effect on the truly wealthy Obama purports to target, who derive most of their income from capital gains and have access to offshore tax dodges.

The 10 states with the largest percentage of “rich” households under the Obama policy include New York, California, New Jersey, Connecticut, Maryland, Massachusetts, plus Washington, D.C. All of them are true-blue bastions, yet they would benefit the most from an extension of all the Bush-era tax cuts.

Moves to curb mortgage-interest deductions for affluent households would also fall most heavily on blue states, where home prices are highest and residents carry the largest mortgages on average, according to Kotkin, who also is a presidential fellow in urban futures at Chapman University and author of the book “The Next Hundred Million: America in 2050.”

Singling out “rich” taxpayers could also reduce their discretionary spending, which drives employment for lower-income workers.

Kotkin’s NewGeography article — which originally appeared in Forbes magazine — also notes that being “rich” means different things in different places. A couple with two children and a $150,000 annual income in a city in red state Texas is far “richer” in terms of housing and personal consumption than a couple earning $300,000 in blue New York City or Los Angeles.

Kotkin adds: “Perhaps the greatest irony in all this is that the Republicans, largely detested in the deep-blue bastions, are the ones most likely to fall on their swords to maintain lower rates for the mass affluent class in the bluest states and metros.”

Editor's Note:

• Get the One Simple Way to Avoid Paying Income Tax, Legally. Click Here