False pretenses to get someone to love you isn’t “love”.
Moonshadows are better than Sunshadows, however, Solar eclipse shadows kick all shadow ass, If it doesn’t happen naturally it’s not meant to be.
I’m “following” Jesus, how ’bout you?
The real reason why Bill Gates is now the US’ biggest farmland owner | Elite Trader
Be convinced that together you will accomplish a lot more!!!
Circumstances should never dictate your level of loyalty to someone…
you’re either loyal or you’re not. So if the person you’re loyal to kills someone you have to keep the loyalty?
Circumstances may indeed dictate whether you are loyal or not…Loyalty is defined as not depending on circumstances, Damn right? But are there actual “levels” of #Loyalty ???
Agree but Loyalty to one’s self comes first.
In addition to going to pay off DISASTROUSLY run BLUE states like California & New York where BANKRUPTCY occurred LONG B4 #COVID19 and OTHER COUNTRIES have won YOUR $$$ in the JACKPOT…
Your children’s GREAT GRANDCHILDREN will STILL not be able to pay off the PELOSI giveaway.
Young Americans for Liberty – Where Your Tax Dollars Go… | Facebook
Americans where does your tax dollars go – Bing video
The Moment is Now and Now is the moment. So what are you waiting for?
There is never a better moment than now to get started.
Family is everythingThe U.S. is expected to bring in close to $3.26 trillion in tax revenue in 2021, according to Congressional Budget Office (CBO) projections. About half of that comes from individual income taxes and one-third comes from payroll taxes, which include Social Security and Medicare taxes.
Find Out: How To Itemize Deductions Like a Tax Pro
That’s right — the federal government relies heavily on your tax dollars.
So you might be wondering, “Where does tax money go?” To find out, GOBankingRates | Personal Finance Site To Help You Find More Ways To Save Money And Make Money looked over CBO projections for 2021.
The results show an astonishing break from past trends in 2020, as the government borrowed record amounts of cash to dole out in the form of the CARES Act and other coronavirus relief programs. Just as spending soared, revenue plummeted as jobs dried up and tax bases collapsed. 2020, however, is now in the past and the designers of the coming year’s budget had a lot of abnormalities to consider.
Click through to find out which items your tax dollars are funding.
For most Americans, spending $10,000 remains a big deal. That’s the kind of money we spend on cars, down payments for homes, once-in-a-lifetime vacations, or parties marking major life events.
Not many of us can shell out $10,000 so casually that, if asked about where it went, they wouldn’t even know. However, the average American family pays the federal government at least that amount in taxes each year, and many of us only have a vague sense of where the money goes.
Yes, we know taxes pay for everything from roads to defense, social programs to public television. But the specific breakdown of tax spending is something most Americans give little thought to — even though taxes are the biggest single line item for many Americans each year.
How much do we actually pay?
Before breaking down where the federal government spends our money, it’s worth considering how the amount of taxes the average American pays has been calculated. In a recent article, my Motley Fool colleague Brian Feroldi broke the numbers down using data from the Internal Revenue Service (IRS).
Americans filed more than 150.6 million tax returns in 2015. During that year they also earned $10.17 trillion in adjusted gross income and had a total tax liability of $1.45 trillion. Some quick division means that the average gross income per return was $67,564 while the average federal tax hit was $9,655.
He also noted that many lower-income Americans either pay no taxes or even get money back because of the Earned Income Tax Credit. Take those returns out of the picture, he wrote, and “you are left with 99 million Americans who recorded an average federal tax hit of $14,654.”
How are our tax dollars spent?
Whether the average tax liability is just under $10,000 or a little less than $15,000, it’s still a lot of money for most people, and it’s important to know where those dollars go. Pew Research broke down how the United States federal government spent $3.95 trillion in 2016, with senior writer Drew DeSilver noting that the country is basically a giant insurance company that has a side business in defense:
About $2.7 trillion — more than two-thirds of the total — went for various kinds of social insurance (Social Security, Medicaid and Medicare, unemployment compensation, veterans benefits and the like). Another $604 billion, or 15.3% of total spending, went for national defense; net interest payments on government debt was about $240 billion, or 6.1%. Education aid and related social services were about $114 billion, or less than 3% of all federal spending.
Every other program — public broadcasting, NASA, national parks, foreign aid, and everything else — adds up to the remaining 6% of the federal budget. Here’s how each major spending area breaks down:
24% Social Security
15% Medicare
15% Defense
13% Health
13% Income Security
6% Net Interest
5% Veterans Benefits
6% Other
3% Education
Historically, according to Pew, federal spending has hovered around 20% of gross domestic product (GDP). In 2016 total spending was 21.5% of GDP, and over the long term, the biggest growth in spending has been on the various human services programs (including Medicare and Social Security). The share of GDP spent on defense has actually fallen to 3.3% in 2016 after hitting a high of 6% in 1986.
What does this mean?
While individual Americans have no direct control over how their tax dollars are spent, it’s important to know where the money goes. It’s especially important to understand that any major increases — say in defense spending, as President Donald Trump has proposed — require cuts elsewhere. With more than two-thirds of the budget going to social insurance programs, it’s hard, if not impossible, to make major changes without impacting those programs.
Most of your tax dollars go to taking care of other Americans, followed by paying for defense. The amounts devoted to everything else, including the most controversial and hotly debated government programs, amount to a relative pittance compared to the overall amounts being spent.
You worked hard for that money you’re about to send to the IRS in less than two weeks. Like many tax filers you’re probably asking yourself where all that money goes when the state and federal governments get their hands on it.
If you have trouble balancing your checkbook, imagine trying to keep track
of where $3.6 trillion goes every year. That’s roughly what Uncle Sam spent last year.
For the complete, gory details, you can check the latest estimates from
the official budget at the Government Printing Office, where you’ll find the government’s finances sliced and diced — by agency, department, function and source. But we’re going to skip reading the 250-page version and get
our numbers from a summary analysis from the Center on Budget and Policy Priorities.
A $3.6 trillion budget has a lot of large numbers. To make it a little easier to imagine which of those tax dollars is yours, here’s roughly how the federal budget compares to your budget and mine. Picture Uncle Sam, sitting at the kitchen table, trying to make ends meet.
Let’s assume for this exercise that the federal budget came to $52,000 a year — or $1,000 a week — which is about the median household income in the U.S. For our purposes, that $1,000 a week is tax free. (Uncle Sam doesn’t pay taxes, he collects them.)
Last year, the three biggest federal budget items were Social Security, health care and defense spending. So if Uncle Sam was a median wage earner, he’d have spent more than $600 of his $1,000 weekly paycheck on just those three programs.
On his annual salary of $52,000, the cost of federal health care works out
to a little more than $11,000 a year. The biggest chunk of that (about $125 of his weekly paycheck) went to pay for Medicare, which provides health coverage for people over 65. The rest ($95) went for Medicaid, which covers low-income families and individual, and state-administered health coverage for children.
While most households are having a hard time setting aside a few bucks a month for their IRAs, your government is busy stashing away retirement cash for a rainy day; about $200 of the weekly paycheck went to the Social Security fund. (Just for fun, compare that to how much of your weekly paycheck goes to retirement savings.)
Next up is military spending. This includes a variety of defense costs, including salaries for the troops, operating and maintenance costs, “procurement” (stuff you bought), and research, development, test and evaluation of all those things you bought. Throw in another few bucks for things like “atomic energy defense activities” and housing the troops, and Uncle Sam paid about $200 a week to keep the nation safe.
(That’s about $10,400 for the year.)
Unfortunately, Uncle Sam — like many Americans — has been living beyond his means and spending more than he takes in. To make up the difference, the Treasury steps up by selling more debt — more or less the way American households use credit cards. Interest on the Treasury’s credit card eats up about 6 percent, or the equivalent of about $64, of Uncle Sam’s weekly spending.
There’s also a line in his budget for “income security” which includes things like unemployment insurance, food and nutrition programs, and housing assistance. That’s roughly 13 percent of federal spending, or about $130 a week for a median income earner. Another 7 percent, or $70 a week, goes
to pay benefits for federal retirees and veterans.
So far, so good. After paying these bills, our favorite uncle has about $135
left from the weekly paycheck. That leaves just $20 (2 percent of federal spending) for education; another $20 for science and medical research; and $30 for transportation costs, including highways, air travel and water transport.
While some Americans complain about seeing their tax dollars going to fund aid to other countries, it’s not a big number. In the 2011 fiscal year budget, the equivalent of less than $5 of the $1,000 a week went to pay for foreign aid and the cost of housing ambassadors around the world to conduct international affairs.
That leaves just $60 left to cover everything else: from agriculture to the environment and the judiciary, including federal law enforcement, courts
and prisons. The Treasury has to manage all this spending without the convenience of online bill paying.
That’s where Uncle Sam spent your money.
Depending on where you live, you also kicked in a portion of the $1 trillion spent in fiscal 2011 by the 50 states and the District of Columbia. The breakdown there is a little easier to track, according to the CPBB.
(The math is also easier because $1 trillion is a nice round number.)
Spending levels vary state by state, but by far the biggest single chunk of your state tax payments went to a classroom. Some 26 percent — or roughly $260 billion of all state spending — went to K-12 education; another 13 percent, or $130 billion went to community colleges, state universities and vocational and technical schools.
Another $130 billion paid for state-managed healthcare programs, primarily Medicaid and the Children’s Health Insurance Program (CHIP.)
About $50 billion was spent by the states on transportation — fixing roads, rebuilding bridges and keeping public transportation systems moving. Another $45 billion went to pay for state prisons and parole and juvenile justice programs.
Public assistance for the poor consumed just $12 billion of all state spending, or an average of just one penny of every dollar of your state taxes.
After that, comparisons of state budgets get a little harder: about $350
billion worth of state spending goes to categories that don’t match up easily, according to the CPBB. Those include public workers pension and benefits programs, aid to local governments and unrestricted spending like property tax relief.
Spending levels also vary widely: West Virginia spends just 11 percent of its budget on K-12 education, for example, while Vermont spends 33 percent. In Wyoming, just 7 percent of state spending goes to Medicaid, while that program consumes 30 percent of spending in Missouri and Florida.
A person who has been awake & aware for decades can learn from someone who has been awake & aware for less than 2 months.
Linear time measures mean nothing when it comes to the awareness of a soul.
Life without liberty is like a body without spirit.