Recently I had an epiphany. I realized that after years of doing taxes I had no idea what our money was being spent on or where it all came from. I have watched the Pentagon claim to have no idea where TRILLIONS of dollars in spending has gone and they haven't received so much as a slap on the wrist, yet the average American would never received such lenient treatment if they couldn't account for so much as $10,000.
I have watched my clients work so hard to reach certain levels of income just to pay insane amounts of taxes to the state and federal government. Even with deductions and write offs and planning, it feels so unfair that so much of our hard earned money goes to taxes and yet our streets are filled with pot holes, our classrooms are overwhelmed, our schools are understaffed, and any of us could be unhoused at any moment if we were to be in an accident or received a diagnosis that could change everything. As hard working tax payers, we deserve to have our money work for us.
My first question was, "Where does this money come from?" According to the Dept of Treasury 54 % of the $403 Billion they have collected so far comes from individual income taxes that is $220 Billion in revenue from the average American. 28% comes from Social Security and Medicare Taxes, and a measly 11% comes from Corporate Income Taxes. It is interesting to see that our government protects so much corporate interest, yet only 11% of the revenue generated by taxes comes from corporations.
My next question was, "Where does the money go?" Interestingly enough, Health Insurance and Social Security take up much of the National Budget, but so does Defense. After those expenditures we have a few other programs that money is spent on but over 50% goes to Health Insurance, SSA, and Defense.
As I dug deeper I realized that most health insurance companies are making MASSIVE profits off of Medicare and Medicaid and that Defense spending goes mainly toward private weapons contractors and security companies. FURTHERMORE, the Pentagon, who is set to receive $840 Billion this year, has yet to pass an audit. Not to mention that corporations contribute almost nothing to the tax revenue of this country and yet influence so many of the rules and laws made around taxes.
We as citizens are taxed until we barely see straight, we are worked until we are geriatric, and then we are told we have no say in how our money is spent. We are desperate for stabilized housing and healthcare. We want free, quality, education. We want our tax dollars to work for us. We deserve that.
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