our family's share of the federal budget
Ohioguy
interesting results on one page:
2009 - your share of national budget
effective tax rate 0.44% (it was actually just about 2%, not sure what
they are talking about)
Item Your Share % of total
National Defense $155 20%
Veterans + Foreign Affairs $33 4%
Medicaid, Food stamps, etc. $106 14%
Unemployment, social services $49 6%
Social Security, medicare
other retirement $309 37%
net interest on debt $73 8%
law enforcement, general government $16 2%
physical, human, community
development $73 9%
What I found the most interesting was that 8% of our taxes went to
interest payments. That's about the same as the combined spending for
law enforcement, general government, unemployment and social services.
Don Klipstein
>I just turned in my tax return using taxact online, and got some
>interesting results on one page:
>
>2009 - your share of national budget
>
>effective tax rate 0.44% (it was actually just about 2%, not sure what
>they are talking about)
>
>Item Your Share % of total
>
>National Defense $155 20%
>Veterans + Foreign Affairs $33 4%
I would like to see how much of that is for medical services.
>Medicaid, Food stamps, etc. $106 14%
I would like to see how much of that is Medicaid alone.
>Unemployment, social services $49 6%
>
>Social Security, medicare
>other retirement $309 37%
I would like to see how much of that is for Medicare.
>net interest on debt $73 8%
>
>law enforcement, general government $16 2%
>
>physical, human, community
>development $73 9%
I would like to see how much of the above is for employer contributions
to employee health insurance premiums.
I do know that the above medical/health issues, plus county health
programs and state/local/school-district/quasigovernmental employees
getting employer contributions to their health insurance premiums all adds
up to greater percentage of GDP than government spending on healthcare in
the other prosperous industrialized democracies.
>What I found the most interesting was that 8% of our taxes went to
>interest payments. That's about the same as the combined spending for
>law enforcement, general government, unemployment and social services.
(This reminds me of how many years of my life had annual Federal budget
deficit close to the interest payments on the national debt.)
Watch that interest cost increase as debt increases! Also, should the
economy heat up or inflation appear or threaten to do so, that results in
interest *rates* increasing - double whammy with national debt increasing
rapidly. Brace yourself for painful tax increases and spending cuts.
Vote against candidates saying these (especially tax increases) are
unnecessary or counterproductive. The stimulus and bailout programs
jolted the national debt upward, and the US economy is being dragged down
by heavy importation of manufactured goods and fuels and food exports
being dragged down by subsidizing use of a specific food crop for fuel
purposes.
Also vote against those favoring pork spending, which is some of the 20%
for Defense, a bit of the 6% for Medicaid and social services, some of the
2% for law enforcement and general government, and probably a fair amount
of the 9% for physical, community and human development. (And be hawkish
on pork and inefficiencies on the state and local government levels also.)
- Don Klipstein (d...@misty.com)
The Henchman
"Ohioguy" <no...@none.net> wrote in message
news:kVhjn.2805$ao7...@newsfe21.iad...
>
> What I found the most interesting was that 8% of our taxes went to
> interest payments. That's about the same as the combined spending for law
> enforcement, general government, unemployment and social services.
You are lucky only 8% went towards interest and I secretly doubt it's that
low. In most developed nations, Interest payments should be in the top three
of government expenditures...
In Canada, debt repayment including interest is the number one government
expenditure and in my province of Ontario 40% of the budget is for debt
servicing alone with health care coming in at a distant second at around 18%
Most European countries are around 50%.
The Henchman
"The Henchman" <y...@yup.org> wrote in message
news:hmkg10$unt$1...@news.eternal-september.org...
I've done furthur "GOOGLE" type research and discovered that the USA spends
about 13.5% of it's tax revenue on interest payments. Incredibly low. I
always knew the US had a low debt to GDP ratio but the US even beats Japan
in the debt interest as a percentage of tax revenue category. Good for the
USA. I kinda figure the USA would not be in trouble until they hit a
debt of 16 trillion based on current GDP
Of course Americans elected that idiot leader in 2008 of theirs so they may
hit 16 trillion sooner and the USA did lose about 5% of it's GDP. Still the
US is in great shape debt servicing wise.
Anyone who complains about 8% of their taxes going towards interest needs a
reality check about global economics.
Bob F
> Of course Americans elected that idiot leader in 2008 of theirs
If you think he is an "idiot" what did you think of the one before him?
ChairMan
Bob F <bobn...@gmail.com>spewed forth:
he was 1/10th the idiot obammy is
Ohioguy
decide who is who.