Share the Wealth: How the US govt spends our tax dollars
The United States government is expected to receive 1.8 trillion dollars in tax revenue in 2001. After the government spends this initial amount on various federal agencies and programs, they decide how to use the remaining budget. They have estimated a 184 billion dollar surplus this coming year. All of this spending can be put into nine categories: Social Security, Non-Defense Discretionary Spending, Defense Discretionary Spending, Medicare, Net Interest, Medicaid, other Means-Tested Entitlements, and other Mandatory Spending. Starting with the biggest chunk of the total federal spending for the 2001 Fiscal year, Social Security accounts for 23 percent, or 422 billion dollars. This seems like an inordinate amount of money to devote to a failing program that needs to be reformed. This program needs to be dissolved and more funding for the benefit of the poor should be allotted. It is not right that some multi-millionaire gets the same social security check that a man in the Bronx does. Those provided for should not be paid just for being old. Their share should go to the Bronx man that is living barely over the poverty line. Non-Defense discretionary spending amounts to 19% or 348 million dollars of federal s
The taxes the citizens of the United States are paying at the present time are extremely moderate. This figure seems to accurately provide for its cause although it could stand some improvement in funding also. And this is just the education part of this category! More money should definitely be spent here. The military, as it is, is overdrawing from the federal budget. In 1966, spending in this category amounted to 23 percent of the budget and now it has been reduced to 19 percent. This category deals with people and families with incomes below certain minimum levels. The net interest payments total 11 percent of the budget. This program is worthwhile but is underfunded. This amount seems a little too high given the peacetime we are experiencing. Nine percent is not enough for this cause though. Some of the savings in the other categories could go towards increasing the benefits of this program for the poor community. The 6 percent of the budget that is allocated towards other means-tested entitlements seems underfunded as well. As far as the presidential candidates are concerned in this issue, Bush has devoted a large portion of the budget to reduce taxes for the high-income bracket where Gore's priority for the same issue is very small.
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