Saw this item on what happens to our tax dollars. A few highlights:This year the federal government expects a haul of about $2.7 trillion -- give or take a couple hundred billion or so, depending on the economy, corporate profits and Wall Street and of course, how honest everyone filing a return is.
......
In fact, all government payments to individuals amount to about 58 percent of the budget. That's twice the share of the budget such payments claimed 40 years ago. And the percentage continues to climb -- giving those pushing reform of such entitlement programs a powerful argument.
......
You might think a fifth of the federal government's total spending is a lot to put into defense. But in comparison to some earlier periods in our country's history, it's actually a smaller share. During President Ronald Reagan's defense buildup, the military claimed 26 percent of the budget. And at the height of the Vietnam War in 1968, 46 cents of every tax dollar Americans paid was for defense.
.......
And when all is said and done, the $2.7-trillion tax revenues aren't enough to pay all of Uncle Sam's bills. This year, the federal government will spend about $200 billion more than it will take in.
Next year, the deficit will run about $300 billion. Coincidentally, that's just about the same amount that the government figures it's being stiffed by individuals and companies who don't pay all the taxes they owe, either by intent or by error.
No comments:
Post a Comment