A fiscal year is an accounting year, which is not the same as the calendar year. Most governments and publicly listed corporations keep their books on a fiscal year, rather than a calendar year.
The federal government’s fiscal year begins on October 1, and runs through September 30 (e.g. fiscal year 2010 will end on Sept. 30 of calendar year 2010; fiscal year 2011 will begin on October 1 of calendar year 2010).
State governments employ a different fiscal year, which begins on July 1, and ends on June 30.
If the government needs money they should legalize marijuana. Let’s face it, this isse is the big pink elephant in the room. In other words, millions of people smoke marijuana; look at California and Colorado. The only thing that has to be addressed is how DUI’s will be enforeced.
If the government stop all these billion dollar companies from sending most of there profits over seas, get around all of there accounting tricks and actually collect all the taxes they legally should be paying and stop the tax breaks for wealthy individuals. The money collected would be enough to cover this infrastructure project and have some left over. These tax brakes don’t make sense anyways. A person who makes $20000 a year can afford to give a quarter of there income to the government but a person who makes $100000000 can’t. Thats messed up. If anything the people who earn less should get the tax brakes.
michael,
the effective tax rate for the lower class is less than the rich. 40% of all income taxes paid are by the top 1%. The bottom 50% pay about 3% of all income taxes paid.
http://www.taxfoundation.org/files/fed_indincome_allcharts-20090730.pdf