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Ever wonder how your Federal Tax dollars are spent?
Washington will spend $31,406 per household this year, but it will only collect $18,276 per household in taxes. The remaining $13,130 represents this year's deficit.
Here is the breakdown of the 31k that each household will get as recently published by the tax guys themselves:
Social Security/Medicare: $9,949. Trouble is - Those households with Social Security or Medicare usually don't pay taxes.
Defense: $6,071. Covers everything from military paychecks, the various wars, and development of new technologies and equipment.
Antipoverty programs: $5,466. Subsidies to State Medicaid, Temporary Assistance for Needy Families, food stamps, housing subsidies, child-care subsidies, Supplemental Security Income and low-income tax credits. It has grown an additional 32 percent since the end of 2008 under the Half-whit Mac Daddy. Trouble is that those households that take this give a way, don't pay taxes.
Unemployment benefits: $1,640. Unemployment costs have surged by 411 percent during the recession. Trouble is those on unemployment don't pay taxes.
Interest on the federal debt: $1,585. The federal government is $13 trillion in debt. The national debt is set to double by 2020.
Veterans' benefits: $1,052. These guys deserve it!
Federal employee retirement benefits: $1,018. A big chunk of this goes to Senators and Congressmen after only serving a single 4 year term!
Education: $914. Most federal dollars are spent on low-income school districts, special education and college student financial aid. Trouble is that those those that get this don't pay taxes.
Highways/mass transit: $613. Funded mostly from the 18.4 cent per-gallon federal gas tax. Washington subtracts an administrative cost and sends this money back to the states with numerous strings attached.
Health research/regulation: $550. This category also includes the FDA, grants programs for health providers, and research to determine whether soda pop is unhealkthy and should be taxed.
Mortgage Credit: $470. This category includes the first time home buyer's program, refinancing for troubled home owners, and the clunker program. Trouble is that most of those that qualify for these credit don't usually pay taxes.
So who actually pays taxes around here? Well, I do! Now I'm not at odds with helping a brother out, but do they really need gravy on the potatoes that I buy for them?
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Tuesday, April 13, 2010
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