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September 5 2019

ViDEO: Breaking Down the Budget: Just where do our tax dollars go?

by Patrice Lee Onwuka

The federal government collected $3.3 trillion in the fiscal year 2017. That’s right, trillion.

Most of that money came from your pocket and mine. Nearly half, $1.6 trillion, was collected directly in income taxes. 

We also paid $1.3 trillion in payroll taxes along with our employers to fund Social Security and other programs. 

Corporate taxes of $297 billion and additional taxes or revenue sources including estate, excise, gift taxes, and other fines round out where Uncle Sam gets his money. 

How do our national leaders spend $3.3 trillion, which by the way is more than the economies of nearly every other nation except the EU, China, Japan, and Germany?

Actually, they spent $4 trillion in FY 2017 -- meaning they spent well beyond our means. 

If only we could keep Washington on a budget. Maybe take away the taxpayer debit card?

Unfortunately, it’s not that easy. Three-quarters of every federal dollar coming in is already spent before our elected officials can fund the priorities that matter to us.

How? 

Check out this video to find out: Breaking Down the Budget: Just where do our tax dollars go?





Independent Women's Forum is an educational 501(c)(3) dedicated to developing and advancing policies that aren’t just well intended, but actually enhance people’s freedom, choices, and opportunities. IWF is the sister organization of the Independent Women’s Voice.​
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