Breaking Down Taxes by the Numbers

Tax Day — or as we in our humble shop have long dubbed it, Income Redistribution Day — is upon us.

In recognition of this dubious date, here’s a brief look at where the federal government spends the well-in-excess-of $3 trillion in taxes it is expect to collect this year.

Some 52% of the federal budget will be spent on the government’s four largest wealth-redistribution programs, better known as Medicare, Medicaid, ObamaCare, and Social Security. Another 16% will be spent on income-security programs, which include veterans’ benefits, food- and housing-assistance programs, retirement for federal employees, and disability programs. (An important note: There’s a huge distinction between money provided for veterans, or even citizens who’ve involuntarily contributed to what they’ve been told is a retirement system, and money given to people who choose not to work.) Combined, that’s more than is spent on national defense.

Speaking of defense spending, one of the few federal expenditures actually enumerated in the Constitution will consume just 15% of the budget. Another 8% of the budget will go to pay the interest on the ever-growing $22 trillion national debt.

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