Current US Federal Government Tax Revenue
Who Really Pays Uncle Sam’s Bills?
The U.S. government’s total revenue is estimated to be $3.422 trillion for Fiscal Year 2019. That’s the most recent forecast from the Office of Management and Budget for October 1, 2018, through September 30, 2019.
So where does the federal government’s revenue come from? Individual taxpayers like you provide most of it. Income taxes contribute $1.688 trillion, half of the total. Another third, $1.238 trillion, comes from your payroll taxes. This includes $905 billion for Social Security, $275 billion for Medicare, and $47 billion for unemployment insurance.
Corporate taxes add $225 billion, only 7 percent. Trump’s tax plan cut taxes for corporations much more than it did for individuals. In 2017, corporations paid 9 percent and income taxpayers paid 48 percent.
The Federal Reserve’s net income adds $55 billion. Its revenue comes from a variety of activities. For example, the Fed is the bank for federal government agencies. It pays interest on the billions of dollars in operating funds deposited by these agencies. In addition, the Fed owns $4 trillion in U.S. Treasury securities. It acquired through quantitative easing. It earns interest on those notes and bonds. But that income is declining as the Fed reduces its holdings.
Customs excise taxes and tariffs on imports contribute $44 billion. The remaining $17 billion of federal income comes from estate taxes and miscellaneous receipts. Trump’s tax plan has also lowered that from $23 billion in 2017.
Democrats think money grows on trees. It is time to cut up the credit cards for the Democrats. All of the money they spend is borrowed and neither side wants to pay off the debt. Why; Because they want to keep us hanging by our toes so they can continue to empty even the change we have in our pockets.
In terms of the absolute value of aid given, the United States is the world’s top donor by far.
So which were the most generous countries in 2014?
The US donated the most funds (net) in foreign aid last year at $32bn.
Out of the DAC countries, Sweden was the most generous – it was the first to meet the 0.7% target in 1974 – donating 1.1% of its GNI to foreign aid, which works out at about $6.2bn. Next came Luxembourg, at 1.07%, then Norway at 0.99% and Denmark at 0.85%. The UK was fifth, higher than Germany at 0.41%, France at 0.36% and Switzerland at 0.49%. In total the UK spent $19bn on foreign aid last year, compared to $16bn from Germany and $10bn from France.
Approximately $11 billion to $22 billion is spent on welfare to illegal aliens each year by state governments. Illegal households only pay about one-third the amount of federal taxes that non-illegal households pay. Illegal households create a net fiscal deficit at the federal level of more than $10 billion a year. If given amnesty, this number could grow to more than $29 billion.
What is U.S. Government Foreign Assistance?
$27.7 Billion requested in foreign assistance for FY 2019
In 2018, the U.S. government gave Mexico $87,660,000 in foreign aid. The largest segment, 56 percent, will go toward peace and security. The second largest segment will go toward democracy, human rights and governance. Democracy is laughable since Mexico is not a democratic society (we have to pay for them to be a democratic country?)
U.S. Gives Financial Aid to 96% of All Countries
https://www.foreignassistance.gov/exploreExplore ForeignAssistance.gov to see how the U.S. government invests in countries around the world. Can you imagine they call foreign aid an investment in those countries – U.S. government invests in countries around the world.
The above site is interesting – it tells what each country has requested in aid.
We all know that the Federal expenditures for Medicare are growing fast and it’s putting a real strain on our budget. $835 billion dollars was spent on Medicare and Medicaid in 2011. (Just think how much is is today, 2019?) That big number doesn’t translate well into an expense per Medicare beneficiary for me. What I wanted to know was, “How much does the federal government actually pay to the private insurance companies to administer either Medicare Advantage Plans (MA-PD) or Part D Prescription Drug Plans (PDP) on behalf of Medicare beneficiaries?”
In 2013 the federal government spent nearly $76 billion on higher education, while states spent about $3 billion less, according to the “Federal and State Funding of Higher Education” study. Federal support include nearly $25 billion in research funding obligations, which are paid over a series of years depending on the length of a research project.
Now take a look at some of the numbers:
Pork Barrel Spending = $14.7 Billion – (Self-indulgence for politicians.)
Foreign Aid = $27 Billion
Illegals = $22 Billion
Medicare and Medicad = $835 Billion
Higher Education = $76 Billion
Total ~$139.7 on stuff (Outside of Medicare/Medicad.)
We spend ~$14.7 billion on pork barrel spending, ~$27 billion on foreign aid, ~$22 billion on illegals and ~$76 billion on higher education for a total of ~$139.7 billion for pork barrel spending/foreign aid/illegals/higher education versus ~$835 billion for medicare and Medicad.
Why are we giving higher education $76 billion when these colleges have endowments which go out the roof and can support themselves. Colleges are being made into resorts for the liberal professors teaching socialism and are brain- washing our children. So much so, that when they graduate – their brains are nothing but socialism mush.
And then you have the illegals. The Democrats are supporting illegals to the tune of $22 billion and have stooped so low against America itself that they are supporting the illegals before the American citizens to garner more democrat votes and illegally harvesting votes.
Citizens Against Government Waste (CAGW) exposes 232 earmarks in FY2018 is $14.7 billion – which is nine times greater than the increase in discretionary spending.
The politicians need to stop all of the reckless spending – such as Pelosi’s vacations, the PORK (illegals and college endowment entitlements) and all of the other self-indulgence that politicians bestow upon themselves and their own states to get re-elected – President Trump is working to remove this pork but has not received any help from these democrats to stop this usurping of our funds.
Now the democrats who are running in the 2020 election for President are strutting their stuff with “FREE” college and free medicare for all. If that is the case – then we have to cut out the pork and the funding of illegals since we are the higher spender in foreign aid.
The problem with some of the politicians and our business man President Trump is the politicians are living beyond their means and the business man President knows the difference in a real budget and that is what the big fight is about. The proverbial Democrats (Insanity roamed through their tribe, cloistered in proverbial dark closets in gabled houses in areas of the country) are like spoiled brats and need to be voted out of office.
kommonsentsjane
kommonsentsjane 