19 December 2020

• We Usually Don't Get Political...But....

One might ask, “Where does the U.S. government get its money?"

Answer: About 84 % of that comes from indivdual taxpayers

...That is, approximately 50% from individual income taxes

...And, about 34% from payroll taxes [$ which, in theory, might otherwise go to individual workers]

Around 7% comes from corporate taxes

The rest is from various sources such as excise, estate, and other taxes and fees.

To paraphrase a couple of quotes:

“There's no such thing as 'government-funded.' It's all taxpayer-funded.”

“Government cannot give anyone anything it has not first taken from someone.”

Please note that the above is not aimed at any particular political party or person...rather, it is intended to apply to all of them.

Please visit this link for further information: StLouisFed

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