ItsCalledSoccer
ItsCalledSoccer
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Joined: Aug 30, 2010
February 14th, 2011 at 8:04:46 AM permalink
There's a fun little pie chart on p. 97 of the 1040 Instructions for 2010 (available on www.irs.gov) showing the sources and uses of federal tax dollars for FY09 (Oct 08 - Sep 09). The percentages reported are as follows:

SOURCES
Borrowing to cover deficit: 40% ($1.413 trillion)
Personal income taxes: 26% ($915 billion)
Soc sec, medicare, unemployment, other retirement taxes: 25% ($880 billion)
Excise, customs, estate, gift, misc. taxes: 5% ($176 billion)
Corporate income taxes: 4% ($141 billion)

USES
Soc sec, medicare, other retirement: 34% ($1.196 trillion)
National defense, veterans, foreign affairs: 22% ($774 billion)
Social programs: 21% ($739 billion)
Physical, human, and community development: 15% ($528 billion)
Net interest on the debt: 5% ($176 billion)
Law enforcement and general government: 2% ($70 billion)

(There is rounding, so don't get all caught up in minutia.)

Observations (assuming these numbers are true):

1. Borrowing was the single largest source of money.
2. Soc sec, medicare, etc. ran a deficit of about $316 billion (22% of total deficit).
3. If the 2010 census is accurate (pop. 309 million), then the per-capita interest for FY09 was $570.
4. If the 2010 census is accurate, the per-capita deficit (not overall debt, but FY09 deficit) was about $4,600.
5. If the ENITRE military were cut out of the budget and all other things kept the same, the FY09 deficit would have been $639 billion.
6. If ALL social programs and physical, human, and community development were cut out and all other things kept the same, the FY09 deficit would have been $146 billion.
7. If #6 occured and the soc sec, medicare, etc. was balanced, there would have been a surplus of about $170 billion in FY09.
8. In FY09, an across-the-board cut of 40% in each category would be required to balance the budget.
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