@cremieuxrecueil Can find a version of this here (entered $100 as total tax bill in order to get dollars as percentages).
https://t.co/mLbr1KURSP https://t.co/dwbsGV2Tk3
@cremieuxrecueil Can find a version of this here (entered $100 as total tax bill in order to get dollars as percentages). https://t.co/mLbr1KURSP https://t.co/dwbsGV2Tk3
In the report we see that the federal government spends $877.5 billion annually on these benefits and services. And let us note that this spending does not include Social Security, Medicare, unemployment insurance, or Affordable Care Act subsidies. However, the $877.5 billion does include $467.8 billion spent on health care for the poor in programs
... See moreP.J. O'Rourke • A Cry from the Far Middle: Dispatches from a Divided Land
spending by America's Federal Government (adding in state and local governments significantly increased the total) was around 24% of national income whilst tax revenues were 15% of national income. That left a near-record peacetime budget deficit to be financed by borrowing of 9% of GDP.
Michael Green • In Gold We Trust? The Future of Money in an Age of Uncertainty (Kindle Single)
Debt Bombshell: U.S. Interest Payments Soar to $1.1 Trillion in Q1, Devouring 35% of Tax Revenue, Exceeding National Defense Spending.