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» Taxation » Where our taxes revenue comes from and goes.
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KenAFA
Newbie
Posts: 5
Registered: 02-22-2004 Location: Phoenix
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posted on 12-03-2012 at 15:43 |
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Where our taxes revenue comes from and goes.
Lets look at US revenue, 40% of US revenue comes from payroll taxes, Medicare and Social security taxes, a tax ALL working Americans pay. Political leaders like to pretend most Americans do not pay taxes. But all have to pay this tax if you work. They always refer to income tax, like pay roll taxes do not exist. Then the next 42% of revenue comes from income taxes, then 9% corporate taxes. SO Medicare and social security pay for them selves, they would actually have a huge surplus but it has been pillage since the 1980s by congress. So now lets take income tax, 42% of total government revenue of 2.2 trillion dollars. That is 924 Billion, Defence Spending is 700 Billion, so 76% of all income tax goes to pay for defense spending. IF you figure interest on money browned for past defence it is over 100%. So this is where tax revenue comes from and goes.
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