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newuser1492
Registered: 06/12/03
Posts: 3,104
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Where did your taxes go?
#5516439 - 04/14/06 03:56 PM (17 years, 9 months ago) |
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http://www.industryweek.com/ReadArticle.aspx?ArticleID=11678&SectionID=22
Quote:
April 1, 2006 -- 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.
Save the Date!
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.
And people think the US is a capitalist nation.
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Luddite
I watch Fox News


Registered: 03/23/06
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Re: Where did your taxes go? [Re: newuser1492]
#5516468 - 04/14/06 04:06 PM (17 years, 9 months ago) |
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What's a capitalist nation? Are you investing in an IRA and/or 401K? How about long term investments and qualified and tax free dividends?
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RandalFlagg
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Re: Where did your taxes go? [Re: newuser1492]
#5516484 - 04/14/06 04:11 PM (17 years, 9 months ago) |
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Quote:
cb9fl said: And people think the US is a capitalist nation.
A common misconception.
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moog
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Re: Where did your taxes go? [Re: newuser1492]
#5516641 - 04/14/06 05:09 PM (17 years, 9 months ago) |
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My taxes went into a government bank account, and then they came back to me in the form of a refund. What a magical tax year!
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downforpot
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Re: Where did your taxes go? [Re: moog]
#5516909 - 04/14/06 07:01 PM (17 years, 9 months ago) |
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We didn't pay taxes this year, we got a refund though HA HA HA HA HA HA
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http://www.myspace.com/4th25 "And I don't care if he was handcuffed Then shot in his head All I know is dead bodies Can't fuck with me again"
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Silversoul
Rhizome


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Re: Where did your taxes go? [Re: newuser1492]
#5517192 - 04/14/06 08:48 PM (17 years, 9 months ago) |
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Capitalism is defined by the private ownership of the means of production, not by how much taxes we pay. I'll definitely agree that the US is not a laissez-faire nation, but most people already realize that.
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Alex213
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Re: Where did your taxes go? [Re: newuser1492]
#5518679 - 04/15/06 11:19 AM (17 years, 9 months ago) |
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A magazine that caters to manufacturing industry trying to whip up feeling against the less fortunate?
Go figure
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RandalFlagg
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Re: Where did your taxes go? [Re: Alex213]
#5518689 - 04/15/06 11:22 AM (17 years, 9 months ago) |
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Quote:
Alex213 said: A magazine that caters to manufacturing industry trying to whip up feeling against the less fortunate?
Go figure
You can't deny those figures though. A very significant amount of the money that the U.S. government spends is given to the old and less fortunate. It is a common mantra that the U.S. government spends more on the military than on charity, but this is blatantly untrue.
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Alex213
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Re: Where did your taxes go? [Re: RandalFlagg]
#5518710 - 04/15/06 11:29 AM (17 years, 9 months ago) |
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You can't deny those figures though
I'm not sure I'd take the figures in an industry rag as gospel on tax.
A very significant amount of the money that the U.S. government spends is given to the old and less fortunate
A very significant amount is given to large corporations in corporate welfare too. I'd prefer it went to the old and less fortunate. The undeniable fact is the rich are getting richer and the poor are getting poorer. So however much is going to the less fortunate it's nowhere near enough.
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Silversoul
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Re: Where did your taxes go? [Re: RandalFlagg]
#5518740 - 04/15/06 11:35 AM (17 years, 9 months ago) |
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Quote:
RandalFlagg said:
Quote:
Alex213 said: A magazine that caters to manufacturing industry trying to whip up feeling against the less fortunate?
Go figure
You can't deny those figures though. A very significant amount of the money that the U.S. government spends is given to the old and less fortunate. It is a common mantra that the U.S. government spends more on the military than on charity, but this is blatantly untrue.
I would be pleased if it truly went to the less fortunate. However, most of the "someone elses" that the article refers to are actually businesses.
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RandalFlagg
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Re: Where did your taxes go? [Re: Alex213]
#5518779 - 04/15/06 11:45 AM (17 years, 9 months ago) |
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Quote:
Alex213 said: I'm not sure I'd take the figures in an industry rag as gospel on tax.
Go to the Congressional Budget Office's home page. Or go to Wikipedia. You will see undeniable figures that quite clearly state that the U.S. government gives way more to poor and old people than it spends on the military.
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RandalFlagg
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Re: Where did your taxes go? [Re: Silversoul]
#5518789 - 04/15/06 11:47 AM (17 years, 9 months ago) |
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Quote:
Paradigm said: I would be pleased if it truly went to the less fortunate.
I would prefer low taxes and low government services, but that is not the reality in which we find ourselves in. If I had a choice between spending money on Iraq and funding social programs at home....I would pick the social programs. This does not mean that I advocate a weak military, quite the contrary. I just don't like to see money (and lives) frittered away on unnecessary military endeavors.
Edited by RandalFlagg (04/15/06 11:48 AM)
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daimyo
Monticello

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Re: Where did your taxes go? [Re: RandalFlagg]
#5518792 - 04/15/06 11:48 AM (17 years, 9 months ago) |
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I wish you could earmark your taxes for certian programs.
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"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."
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RandalFlagg
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Re: Where did your taxes go? [Re: daimyo]
#5518805 - 04/15/06 11:49 AM (17 years, 9 months ago) |
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Quote:
daimyo said: I wish you could earmark your taxes for certian programs.
That would be nice wouldn't it? All of my tax money would go to the military and paying off the national debt.
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daimyo
Monticello

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Re: Where did your taxes go? [Re: RandalFlagg]
#5518817 - 04/15/06 11:52 AM (17 years, 9 months ago) |
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Pretty much the same for me. I think it would cut down on a lot of bullshit spending. I wonder how many people would willingly support social programs.
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"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."
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RandalFlagg
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Re: Where did your taxes go? [Re: daimyo]
#5518827 - 04/15/06 11:55 AM (17 years, 9 months ago) |
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Quote:
daimyo said: I wonder how many people would willingly support social programs.
I would (and do) give to charitable organizations. But, I wonder if that kind of giving would be widespread in a more laissez-faire system.
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Redstorm
Prince of Bugs



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Re: Where did your taxes go? [Re: RandalFlagg]
#5518833 - 04/15/06 11:57 AM (17 years, 9 months ago) |
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All of my money for go to the debt and to education.
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RandalFlagg
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Re: Where did your taxes go? [Re: Redstorm]
#5518837 - 04/15/06 11:59 AM (17 years, 9 months ago) |
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No military spending for you?
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Silversoul
Rhizome


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Re: Where did your taxes go? [Re: RandalFlagg]
#5518850 - 04/15/06 12:02 PM (17 years, 9 months ago) |
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Quote:
RandalFlagg said: No military spending for you?
I think that that way we spend our money on the military ultimately makes us less safe, not more.
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Redstorm
Prince of Bugs



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Re: Where did your taxes go? [Re: RandalFlagg]
#5518853 - 04/15/06 12:03 PM (17 years, 9 months ago) |
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Other people will pay for it. I only would want a minimal defensive military anyways.
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