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Tuesday, April 14, 2015

Economic Education

It is Tax Day tomorrow in the USA

1/2 priced burgers at Sonic, btw

But here's how Shepard Smith explained where our tax money goes:

For every dollar:

Major tax services (Medicare/Medicaid, Social Security... Note 1)
Over 50%

Income Security (retirement, disability, other benefits ... Note 2)
19cents

Defense Spending
17 cents

Net interest on National Debt
7 cents

Everything else
7 cents

I question these numbers.  Major Spending is too broad of a term ... This could be from White House security to global warming satellites to paying some mistress to stay silent.  It's too jumbled of a term.

I can not believe that they are only paying 7cents/USD on the national debt -- it has to be higher than that ... Although .... That does explain how we got into the TRILLIONS of dollars of debt

NOTE 1: 
Social Security was supposed to be SEPARATE from the general tax budget.  It was supposed to be self-sustaining .... I don't know why they have grouped it into this category.  Interesting part, they will give the benefits to illegals but not to legal citizens who haven't earned enough "points" yet .... Grrrrrr

NOTE 2: 
By "retirement" do they mean social security? I thought that was covered by category 1???!!!
Perhaps they mean the retirement of FEDERAL WORKERS?  

These numbers simply do NOT make sense.

Some one explain to me please ....

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