Since its Tax Day, I thought we might take a look at where your tax dollars go and where they come from.

The first chart is Federal Revenues — what the sources of cash are from all sources. As you can see, the biggest revenue line is individual income taxes, accounting for 46% of revenues. Payroll taxes, split between the employer and employee, account for another 31.7%. Corporate taxes are a mere 13.5%, with assorted customs, duties and excise tax making up the last few percent.

 

Federal Revenues

 

What we spend those trillions on can be seen in the second chart:  33.6% goes to social security and Unemployment benefits; Medicare and health related spending captures another 26.6%. Next up, Military including Veterans benefits captures a huge 20.4% of the budget.

The last 2o% or so goes to lots of smaller departments: Interest on Debt grabs 6.3%, then Food & Agriculture take 3.3%, Transportation (2.6%), Housing (2.6%), Education (2.0%), Energy (1.1%) and Science (0.7%.)

 

Federal Spending

Source: National Priorities

Continues here

Category: Digital Media, Politics, Taxes and Policy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

14 Responses to “Tax Day Charts: Federal Revenues and Spending”

  1. fastEddie says:

    I would love to see this *excluding* Social Security and Medicare Taxes and expenditures. Social Security and medicare have their own funding and as such are Separate from “taxes” and “Tax expenditures”, in my opinion. It would then show that Military and Veterans expenses ( 648B + 161B = 809B ) are more than half of Individual income taxes.

  2. Arequipa01 says:

    “Corporate taxes are a mere 13.5%”

    Corporate tax rates should be a function of the C-level salaries and multinationals should be levied especially for ‘Defense’ spending (read State, Pentagon and intelligence) as a percentage of total assets held abroad.

    Pro Empire Americans should all feel free to join the looting expeditions by enlisting.

  3. ch says:

    $251B in interest expense on $17T in Federal debt…with Fed funds at 0% for going on 6 years.

    Take Fed Funds just back to 50-year average levels of 3% = almost $800B in interest expense.

    Take Fed Funds back to mid-1980s of 7% = almost $1.5T in interest expense.

    Take Fed Funds back to 1980 levels of 12% = $2.3T in interest expense.

    This, at its core, is why the stock mkt has such a strong bid under it. “Mr. Market” knows that rates can’t rise.

  4. 4whatitsworth says:

    I wonder which budget the Nevada rancher fiasco was funded from.

    http://www.washingtontimes.com/news/2014/apr/13/nevada-bundy-ranch-standoff-could-leave-dirt-on-ha/?utm_source=RSS_Feed&utm_medium=RSS

    Is seems like the government is big enough to be awfully corrupt.

    • rd says:

      These are brave red-blooded Americans battling an out-of-control government. Of course, they did plan on putting the women in front of the militiamen so they would get shot first to get better PR and media coverage – a hallmark of true bravery.

      http://www.washingtonpost.com/blogs/the-fix/wp/2014/04/15/everything-you-need-to-know-about-the-long-fight-between-cliven-bundy-and-the-federal-government/

    • willid3 says:

      isn’t they rancher that has been using Federal land to graze his heard? and not paying the fees to do so? and seems to have been in court a few times, and told, no the state or county do not own that land. and yes he does owe to use it.

      course I guess the next option is to just remove any cows of his that get on the land and send back to his ranch. Hungary of course.
      course the next time he leaves for town he might get arrested for theft of public property

      also seems that the only political supposed connection. isnt. that Chinese company that was supposed to be interested in that land, actually was interested in land about 180 miles away, in 2012. and dropped their interest all together back then.

    • Iamthe50percent says:

      And another tax cheat goes free.

    • Biffah Bacon says:

      BLM is Department of the Interior.
      Interesting to see your enthusiastic support of a “taker.” Not everyone is so excited about being swindled for decades by a desert grifter. If he tried that on private rangeland he would be in a great deal of misery with no army of gullible but aggressive imbeciles with human shield wives to intervene on his behalf. They just shoot trespassers on private land.

    • NMR says:

      So why does this guy get a Mulligan on grazing fees when about 14,000 other ranchers and farmers are paying them. Like to explain?

  5. econ1 says:

    $3.9 trillion in spending….that’s up from $1.8 trillion when Clinton left office. An inexact adjustment for inflation would add $1 trillion to Clinton’s tab so roughly $2.8 trillion. It gives one pause when folks say we are being austere.