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.
The US Treasury Department building is seen in Washington, DC, January 19, 2023, following an announcement by the US Treasury that it had begun taking measures Thursday to prevent a default on government debt, as Congress heads towards a high-stakes clash between Democrats and Republicans over raising the borrowing limit. – The world’s biggest economy could face severe disruption with Republicans threatening to refuse the usual annual rubber stamping of a rise in the legal borrowing limit, and this could push the United States into default. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)
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.
California Is Staring Down The Barrel Of A Yawning Budget Deficit. Can It Even Be Fixed? https://t.co/pxy1zh0Smp
— Daily Caller (@DailyCaller) April 11, 2024
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.
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