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I want people to think about this as to why it is hard to reduce federal budget deficit.
AND Why is it that democrats and republican are BOTH WRONG on their ways to reduce the budget deficit.
Here are your reveunes
$1.25 trillion - FEDERAL INCOME TAX
$927.2 billion - PAY ROLL TAX( SOCIAL SECURITY AND MEDICARE)
$314.9 billion - CORPORATE TAX
$68.1 billion - Excise taxes (most of these taxes pay for transporation funding)
$29.2 billion - Customs duties
$25.7 billion - Estate and gift taxes (ends in 2010)
$50.7 billion - Other
Here are your spending
$608 billion - Social Security
$386 billion - Medicare
$209 billion Medicaid and the SCHIP
$324.0 billion Unemployment/Welfare
$56.0 billionUnited States Department of Education
$35.2 billion - US Department of Housing and Urban Development
$35.0 billion State and Other International Programs
$24.3 billion - U.S DEPARTMENT OF ENERGY
$20.2 billion - U.S DEPARTMENT OF JUSTICE
$20.2 billion - U.S DEPARTMENT OF Agriculture
$17.3 billion - NASA
$12.1 billion - U.S DEPARTMENT OF Transportation
$12.1 billion - U.S DEPARTMENT OF Treasury
$10.6 billion - U.S DEPARTMENT OF Interior
$10.6 billion - U.S DEPARTMENT OF Labor
$51.8 billion - Other On-budget Discretionary Spending
$39.0 billion - Other Off-budget Discretionary Spending Net interest on debt: $261 billion
DEFENSE BUDGET ---
$481.4 billion - DEFENSE BUDGET -- nothing to do with iraq and afghan war.
$145.2 billion - IRAQ AND AFGHAN WAR (solider pay, budget for new equipment and etc)
$39.4 billion - Veterans Affairs
$34.3 billion - U.S DEPARTMENT OF Homeland Security
======================
Consider these facts ===
Any reform in social security and Medicare-------will not reduce the budget deficit. Why? Because any increase in their reveune will only be led by increase in your benefits(unless the change the formula to get more money from people under 40 and give them even less!)
Here is your Poor people's budget
---$367.0 billion - Unemployment and welfare
---$276.4 billion - MEDICAID AND SCHIP
---$26.8 billion - Community and regional development (to be blunt----it is basically crap!!!)
---$69.3 billion U.S DEPARTMENT OF health and other human services budget
---$35.2 billion - U.S DEPARMENT OF HOUSING
TAKE OUT SOCIAL SECURITY, MEDICARE, DEBT INTEREST RATE , you are left with the
FEDERAL SPENDING --- 1.645 TRILLION
FEDERAL REVEUNE --- 1.733 TRILLION
IN ADDITION, IF TAKE OUT DEFENSE BUDGET(but keep the afghan and iraq war part), you are left with
FEDERAL SPENDING -- 1.080 TRILLION
FEDERAL REVEUNE --- 1.733(no change)
TO DEMOCRATS ---- WANA RAISE REVEUNE BY 300 BILLION DOLLARS?
----------The largest tax increase in peacetime have been under Reagan --- 1.3% of the GDP in 1983. Bruce bartlett( the guy who worked on Reagon tax cuts) wrote that by the end of Reagon term, he had raised tax by 2.5% of the GDP
--------- The Clinton 'richest 1%' tax increase was 0.9% of the GDP.
------- A tax increase of $300 billion will be one of the largest during peace time......so think about it.
TO REPUBLICAN --- WANA INCREASE DEFENSE FUNDING(not related to iraq and afghan war) by 30% as McCain, Guilliani and Thompson have suggested.
Will a nuclear submarine hunt down Osama?
Will a marine brigade find Osama? (hunting Osama is special forces and CIA JOB)
Remember, war equipment is purchased by War budget of 145 billion dollars.
So think about it.
TO PORK BARREL FIGTHERS----Pork barrell makes up less than $15 - 20 billion of the federal budget. It matters, how you measure these projects.
ARE YOU CRYING NOW? LOL
Last edited by jessica1000; 01-09-2008 at 12:00 AM..