U.S. Budget Deficit: Will Tax Hikes And Spending Cuts Widen The Wealth Gap?
Description:The U.S. posted its widest budget surplus since 2008 in April on revenue from tax payments by individuals and corporations, the Department of Treasury said on Friday. Joseph Greco, managing director with brokerage firm Meridian Equity Partners Inc., weighs in with IBTimes TV's Jessica Menton about the federal budget and its effect on the widening wealth gap in the U.S. The April surplus was $54 billion more than the same month a year ago. Tax receipts were $407 billion, up 28 percent (4:53)