Where does all of our tax money go? About 80 percent of all federal revenue comes from taxes and corporate taxes amount to only about 11 percent of federal revenue, down from 40% in 1943. This is what has hurt the middle class so much. About 65% of the federal budget is for mandatory spending for Medicare, Social Security and Veteran’s Benefits. 29% is discretionary spending for military, transportation, housing agriculture, labor, education, environmental and other programs. Interest in the federal debt is at 6 percent. The total budget is about $1.5 trillion now
18% of that is spent on defense and international security assistance to other nations. 24% pays for Social Security. 24% pays for Medicare. and 11% for safety net programs. The interest on debt runs 7% and only about 2% is spent on science and research, which was once our greatest strength.
Every citizen has the capacity to change how these funds are spent. Speak with your representative and become a citizen lobbiest. It will make a vast difference in the future of our nation.
Jeff Newman
