Infographic: How Your Tax Money Is Spent
As if there was ever any doubt the Federal Government exists mainly as an agent of wealth redistribution in the United States, one need look no further than what it spends your tax money on. Only 34% of the budget goes to well…anything except social programs and interest on our $20 trillion national debt.
Social programs make up at least 60% of the budget, mainly in the form of Social Security and Medicare. The situation is worse than it appears. As Pete Peterson tells us in I.O.U.S.A. the government wasted the money the Baby Boomers put into the Social Security and Medicare trust funds, which is why these programs now come out of the regular budget:
Social security trust funds are a misnomer, and in fact they’re an oxymoron. They shouldn’t be trusted and they’re not funded. They were originally intended for the surpluses that were building up as the boomers were working, to be set aside and saved for Social Security. Instead, they were spent for other purposes. As a result, all we have are a bunch of liabilities.
In other words, in a few decades because of an inverted population pyramid even if we spent 100% of the budget on Social Security and Medicare we still won’t have enough to pay for them.
At least now you know where your money is going after it is forcefully taken from you.
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