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ChinaNews版 - USA is in big financial trouble
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Federal Income Tax - Why you should not payFederal Taxes as a Percentage of Household Income
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l*****7
发帖数: 8463
1
20% of the tax-payer's money spent on defense;
6% of the tax-payer's money spent on the interests on national debt;
20% tax-payer's money spent on social security;
Any inflation of significance will kill the US economy!!!!
http://www.dailyfinance.com/2012/04/13/heres-where-your-taxes-go-one-breaks-down-federal-spending/?icid=maing-grid10%7Chtmlws-main-bb%7Cdl6%7Csec1_lnk2%26pLid%3D152238
Interactive Calculator Shows You Exactly Where Your Taxes Go
By Bruce Watson
Posted 12:50PM 04/13/12 Posted under: Economy, Taxes
289
As tax season enters its final days, the yearly political battle over
government spending is reaching a fever pitch. Pundits and politicians are
leaping once again into the fray, dragging with them the same old tired
arguments about welfare, defense spending, Medicare, foreign aid, and all
the other traditional tax-debate villains. Meanwhile, the real question --
exactly how are our tax dollars spent? -- usually disappears beneath the
avalanche of partisan rhetoric.
Recently, ONE, a nonprofit group that fights global poverty, unveiled an
interactive tool that enables users to see how much they pay in taxes, and
where that money goes. Here it is:
According to ONE, a single taxpayer, making the average household income of
$49,445, pays $8,486 in taxes before exemptions. Of that, the biggest chunk,
over $1,740, goes to Social Security and $1,082 goes to Medicare. The other
big expenditures are similarly unsurprising: defense spending eats up $1,
601 and unemployment insurance eats up $1,295.
Some other expenses are a bit more shocking. For example, almost 6% of taxes
go to pay interest on America's debt, while less than 10% goes to health
care spending. As for the country's embattled foreign aid allocations, they
account for a minuscule 0.95% of all federal spending.
What about the classic budget villains, like the education system, food
assistance programs, and school lunches? Well, on ONE's tax tool, these --
along with hundreds of other programs covering everything from insurance for
children to rental assistance to the cost of printing currency -- are
included in "Other," a catchall that totals just over 16% of the budget. Put
in context, this means that the combined price of most government programs
costs less than the defense budget or Social Security, and just a few
percentage points more than Medicare.
Digging a little deeper, our government's spending priorities become even
clearer. For example, education totals about 2% of the federal budget --
less than one-ninth of what goes to the military, or about $169 per year for
an average household. Federally-funded science and medical research
accounts for about the same amount, while transportation spending gets 3%.
Put another way, America spends about six times as much on its military as
it does on its roads, airports, bridges, trains and other transportation
infrastructure.
Click the calculator below to see just where your tax dollars are going this
year.
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