Monday, April 27, 2009
Who Pays For The TARP?
We do mostly. The graph below tracks the revenue side of the Federal Government's income statement. Of course, this revenue stream is less than the torrent of money flowing out. Therefore, Treasury issuance will insure that our offspring will come to know this fine equation as well. We are also privileged to pay a good portion of social insurance taxes (Medicaid, Medicare, Social Security) too. Please click on the graph to expand.
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Since 1969 (on average):
Individual Income Taxes accounted for 45.6% of revenue
Corporate Income Taxes accounted for 11.2% of revenue
Social Insurance Taxes accounted for 32.9% of revenue
This is outrageous! On top of government bail-outs how we ever going to getting ahead as an individual or country?
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