Posted on 09/30/2010 1:51:41 AM PDT by Scanian
If you think the federal taxes you pay go to the run the fed eral government, think again. This year, every dime (and more) that the feds collect is going out in payments to other people.
That is, Washington is redistributing even more wealth than it takes in.
With every dollar the feds collect from the "Peters" going to the "Pauls," and then some, nothing is left to pay the more than 2 million federal civilian employees, the armed forces or otherwise run the government.
The White House Office of Management and Budget calls the category "Payments for Individuals." It includes more than 100 antipoverty programs such as welfare, food stamps and Medicaid -- plus tens of billions each year for "tax credits" to people who pay no income tax.
But the bulk of it goes to folks who mostly aren't below or near the poverty line -- Social Security and Medicare being by far the largest, but also unemployment benefits, student assistance and day-care payments, to name a few.
Only about 6 percent or 7 percent is for items arguably related to delivery of (past) government services -- mainly veterans' benefits and civil-service retirement checks. Factor those out, and this year's projected Payments for Individuals still total more than federal revenues.
The chart at right shows how Payments for Individuals, or PFIs, have skyrocketed more than 1,600 percent since 1945 -- from 1 percent of GDP to 16.4 percent.
(Excerpt) Read more at nypost.com ...
I would say this article is exactly on target
The largest criminal enterprise in recorded history.
Since my return receipt said "JP Morgan", I presume it went for a bankers bonus.
For recent retirees 26 years of paying Social Security withholdings at 11.4% or higher is included in the mix. I would call that payment for prior service just like vet benefits.
A Ponzi Scheme is a Ponzi Scheme. Some day it has to end.
Madoff was a streetcorner three card monte hustler compared to the FedGov and generations of politicians.
We are ruled by thugs, and we need to rise up and deal with them.
bflr
Whisky Tango Foxtrot?
If the government had to actually send an itemized tax bill this would end.
I should die putting my last 5 dollars in the slots and hitting the jackpot for my kids...(maybe die after giving it to my kids) just to make sure I get it...:O) LOL
Bump
I’ve never seen the black hole addon. That rocks. May have to download it. Have you installed RCW 79? OMG, that thing rocks. It’s amazing to fly through a fully 3-d structure that is thousands of light years across.
that is not correct. interest payments on the debt are around 8% of the budget last i checked
meanwhile, we haven’t heard much about the total debt. currently at $13.4 trillion
when GWBush left office it was $9.5 trillion. that’s a $4 trillion increase, almost 50% jump in the national debt in 18 months
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