Taxes

[Perianne]

I have worked some overtime lately. Friday, I looked at my check and saw that I paid just short of $1,000 in taxes. So, I got to thinking what, if it were up to me, would I cut as far as federal spending goes?

25% goes for Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act (ACA) marketplace subsidies. That's $250 out of this check.

24% goes for Social Security. That's another $240 out of this check.

16% goes for defense and related expenses. That's $160 out of this check.

10% goes for safety net programs. That's $100.

6% goes for interest on the national debt. That's $60.

About 4% goes for veterans' benefits. That's $40.

Another 4% goes for retirement benefits for government employees. That's $40.

About 3% for education. That's $30.

The rest is for other crap.


I don't know where or how to cut the expenses. :(

[DLT]

I have worked some overtime lately. Friday, I looked at my check and saw that I paid just short of $1,000 in taxes. So, I got to thinking what, if it were up to me, would I cut as far as federal spending goes?

25% goes for Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act (ACA) marketplace subsidies. That's $250 out of this check.

24% goes for Social Security. That's another $240 out of this check.

16% goes for defense and related expenses. That's $160 out of this check.

10% goes for safety net programs. That's $100.

6% goes for interest on the national debt. That's $60.

About 4% goes for veterans' benefits. That's $40.

Another 4% goes for retirement benefits for government employees. That's $40.

About 3% for education. That's $30.

The rest is for other crap.


I don't know where or how to cut the expenses. :(

Back when Bubba Clinton was in the WH, his tax increases created a situation where, even when working 50-60 hours a week (time an a half overtime pay for anything over 40 hours)...I was barely breaking even. So essentially, I was working all that overtime for the damned government re: income taxes. Looking back (hindsight), I should have just kicked back and worked a 40 hour week. It wasn't worth the effort.

[fj1200]

I don't know where or how to cut the expenses. :(

It's not so much now cutting it's future cutting when it gets difficult:

http://www.nationalaffairs.com/imgLib/20121219_HubbardKane_Chart1LARGE.jpg

And this doesn't even include increases in future interest costs. But what they need to do is restrain spending growth while instituting pro-growth tax policies that will expand the economy, and by extension, revenues such as the '94+ Republican Congresses did. And eliminate base-line budgeting which automatically increases the budget annually.

[Gunny]

I have worked some overtime lately. Friday, I looked at my check and saw that I paid just short of $1,000 in taxes. So, I got to thinking what, if it were up to me, would I cut as far as federal spending goes?

25% goes for Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act (ACA) marketplace subsidies. That's $250 out of this check.

24% goes for Social Security. That's another $240 out of this check.

16% goes for defense and related expenses. That's $160 out of this check.

10% goes for safety net programs. That's $100.

6% goes for interest on the national debt. That's $60.

About 4% goes for veterans' benefits. That's $40.

Another 4% goes for retirement benefits for government employees. That's $40.

About 3% for education. That's $30.

The rest is for other crap.


I don't know where or how to cut the expenses. :(

The amount of money we spend putting people in space when we can recreate the exact same conditions here nowadays. The whole space program is a waste of time and money, IMO.