Americans under the age of 35 make up 25 percent of the U.S. population but hold just 5 percent of the wealth. Americans between the ages of 55-64 make up 16 percent of the population but hold 31 percent of U.S. wealth. –Federal Reserve Bank of St. Louis
April is the largest month for tax collections and last month was one of the biggest hauls ever for the U.S. government. Tax receipts of $455.6 billion (an average of $15 billion a day) was the second largest monthly total ever collected by the US Treasury, trailing only the $471.8 billion collected in April 2015. The $182.4 billion surplus from last month, i.e., tax revenues in excess of outlays, was the second largest monthly profit ever for our government, falling just short of the $189.8 billion surplus recorded in April 2001 or 16 years ago (source: Treasury Department).
Once a quarter, the Treasury Department auctions off new 10-year notes and 30-year bonds. If supply exceeds demand, the influx of new debt paper can cause prices to fall. But the demand last week for both issues was double the amount of paper brought to market, i.e., $99 billion of applications for just $51 billion of accepted bids, an indication of the strength of the U.S. government’s borrowing power in the global debt market (source: Treasury Department).
The practical effect of Horizonte’s, Salt Lake City School District’s alternative high school and adult education center, success in rescuing unsuccessful public high school students, immigrants and refugees, is in helping them become annually growing, tax-paying, U.S. citizens. The privately-funded college scholarship program is helping them raise themselves and their families to be contributing members of American society.