Why 2018 Federal Tax Collections Rose Even Though Corporate Tax Revenue Fell

With the deadline for U.S. residents to file their 2018 income tax returns having once again come and gone, a good question to ask is, How much money does the federal government collect each calendar year?
The U.S. Treasury Department’s Monthly Treasury Statements are the sources for the numbers shown in the chart below for the tax years of 2016, 2017, and 2018.

Uncle Sam receives a pretty steady annual income from his tax collection racket, which is surprising because the U.S. government enacted significant income tax cuts for corporations and individuals in 2018.
Although many people might expect that the government’s revenues

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