Posts filed under “Politics”
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.
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%.)
Source: National Priorities
“$8.5 TRILLION In Taxpayer Money Doled Out By Congress To The Pentagon Since 1996 … Has NEVER Been Accounted For” We’ve repeatedly documented that military waste and fraud are the core problems with the U.S. economy. For example, we’ve noted that we wouldn’t be in this crisis of hitting the debt ceiling in the first…Read More