Spend-Crazy Feds
Here is a very interesting article on taxes and what you really pay:
Evans On The Economy -- Tax Cheats Snub Spend-Crazy Feds
There would have been no federal budget deficit last year had tax cheaters paid all they owed.
Saturday, April 01, 2006
By Michael K. Evans
Soon it will be everyone's favorite day -- April 15th. How much will you owe? Federal income taxes are only the beginning. Last year, federal income taxes totaled $932 billion, or about $6,650 per employee. But people paid $1.286 trillion in other federal taxes, mostly Social Security taxes. And -- keep those calculators going -- the state and local tax bill totaled $1.14 trillion.
Directly or indirectly, employees and proprietors paid this entire bill of $3.358 trillion, or almost $24,000 per employee. Total compensation earned by employees and individual proprietors last year was about $8.2 trillion, so, by my calculation,
this means 40% of your income went to various government agencies.
And where did that 40% of your income go? Most of it, if you're under 65 and working at a regular job, went to the less fortunate. The numbers are stunning. Federal expenditures were $2.55 trillion, with $495 billion going for national defense and another $272 billion going for purchased goods and wages paid. At the same time some $1.69 trillion was transferred to someone else -- well, actually a lot of someone elses. That's some federal case.
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