And So I Go: Yesterday, Today and Tomorrow

Where Did Your Tax Dollar Go?

Posted on: April 15, 2013

You are required by law to pay taxes on your income today.  This income tax became law  when the states ratified the 16th. Amendment to the Constitution of the United States in 1913.  Our forefathers when writing the Constitution specifically denied the government from taxing the people or what was called a “direct tax”.  The states however were to be taxed  to support the costs of the federal government in direct proportion to the number of people living in the state.    Our forefathers saw the power an individual income tax would give governments over the people and the power to  hand out favors and manipulate the system to favor those who could bribe the Congress to write the laws in their favor.     This is why and how our own President paid only 18.5% taxes on his income.  How much did you pay?

Anyhow, just for your information this is what your tax dollars are paying for.  You will notice I sincerely hope that the largest part of your tax dollar is being paid out to senior citizens thru Medicare and Social Security!   Time and again I have explained on this site how we Seniors are getting from Social Security and Medicare so much more than we ever paid into these programs.  It is beyond me that we as a people insist on paying for millionaires medical expenses and paying them a pension  simply because they got old.    In fact, even the fact that we are paying these government handouts to anyone whose income is such that they can afford their own health insurance is beyond me.  It is long past time that Social Security and Medicare be means tested an only for the poor.   And with Medicare and Medicaid taking up 19% of your tax dollar now you can bet that Obamacare will triple that amount.  The Congressional Budget Office estimated that Obamacare would cost 1.9 trillion dollars over ten years but have since readjusted this estimate to 5.4 trillion dollars over the next ten years.  You might also remember that the government has always vastly underestimated the costs of  its programs.  But have been on this soap box before Dear Reader so will jump off now and get back to the point of the expenses paid by your tax dollar.

Defense takes a large portion also.  BUT, defense of our country was the one duty given to the federal government. We have the finest military in the world and  have been fortunate enough to have been free of a war on our shores by an invasion of a foreign power since 1812.  Somehow during the 20th. century the United States became the police force of the entire world which was not envisioned by our founders and certainly should not be our role now in my opinion.

 

Another  large portion of your tax dollar is the 6% that is going for interest payments.  THAT IS THE PAYMENT OF INTEREST ON OUR NATIONAL DEBT!   A national debt that took two hundred years to amount to 9 trillion dollars but on 4 more years to amount to 16 trillion dollars!!  So at this rate in just 5 years the percentage of your tax dollar that goes to just the interest on the national debt will  be more  than any other expense!  Keep that in mind when you go to the polls and elect a person who believes the federal government should put more and more people on medicaid or on food stamps or on disability.  All of these give away programs have doubled under our current president in just 4 years!

So read this article carefully and understand.   An plesase do go to the sites referred in the article . BB

 

Where Did Your Tax Dollar Go?

Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day.

Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what we owe to the IRS. This is a pain for taxpayers and a huge drain on the economy.

According to the federal Taxpayer Advocate in its 2012 report, Americans’ cost of complying with today’s complex tax code totaled $168 billion in 2010. That’s almost as large as the impact of the Obama tax hikes in fiscal year 2013, and twice the size of sequestration this year [see chart].

It takes taxpayers 6.1 billion hours—or 51 hours per household—to complete all the required filings. That’s more than six full eight-hour working days per household!

The compliance burden comes on top of the direct financial cost of $3.5 trillion in federal spending. In 2012, Washington collected $20,000 in taxes for every household in America. But Washington spent nearly $30,000 per household.

TaxDay_403

Americans pay high taxes as it is, and with the 13 tax increases that hit this year, tax revenue is growing beyond its historical average as a share of the economy. But Washington’s deficits continue, because spending keeps going up.

Future Tax Days promise to be even worse because of the tax increases from the fiscal cliff deal and from Obamacare. Taxpayers will start seeing these costs when they do their tax returns next April and in future years.

Too much taxing and spending is bad for the nation. Americans are right to be concerned about how the President and Congress allocate their hard-earned money. As the above infographic shows, 45 percent or almost half of all spending went toward paying for Social Security and health care entitlements. Without reforming these massive and growing programs, Washington will have to borrow increasing amounts of money, piling debt onto younger generations and putting the nation on a dangerous economic course.

Growing government spending threatens current and future taxpayers with higher taxes. Congress should reduce spending and prevent any more tax increases. Congress also needs toreform the tax code so it is less of a burden on the American people.

Tax day is a real drag, but it doesn’t have to be this bad. Learn more at savingthedream.org.

Read the Morning Bell and more en español every day atHeritage Libertad.

 

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