The Taxman Rolleth In Dough
Where's all that money coming from? Tax revenues are pouring into Uncle Sam's coffers. Individual income tax collections this June were 23% higher than in June, 1996, according to tallies of the Treasury Dept.'s daily financial reports by Chase Securities Inc. Through nine months of fiscal 1997, the total is up 14% (chart). The result: When the government closes its fiscal year on Sept. 30, the budget deficit could fall below $50 billion--less than a third the red ink projected only a year ago.
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