Where does the federal tax money taken out of every paycheck go?

Comments

• Thanks for sharing this, but I can't believe federal money goes where you say it goes.

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  by snowflake1556 on January 23rd, 2006

• That was years, possibly decades ago. I doubt it's still happening.

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  by LarryH54 on June 15th, 2008

• Here is some data that helps to understand where the money goes.
  
  President's Private Sector Survey On Cost Control
  A Report to The President (Reagan)
  
  January 15, 1984. Available from the Congressional Research Service.
  The excerpt below can be found on page 12.
  
  "Importantly, any meaningful increases in taxes from personal income would have to come from lower and middle income families, as 90% of all personal taxable income is generated below the taxable income level of $35,000.
  
  Further, there isn't much more that can be extracted from high income brackets. If the
  Government took 100% of all taxable income beyond the $75,000 tax bracket not already taxed, it would get only $17 billion, and this confiscation, which would destroy productive enterprise, would only be sufficient to run the Government for several days.
  
  Resistance to additional income taxes would be even more widespread if people were aware that:
  
  With two-thirds of everyone's personal income taxes wasted or not collected, 100% of what is collected is absorbed solely by interest on the Federal Government contributions to transfer payments.
  
  In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their government."
  
  So what we have is a central bank issuing worthless paper "money" that controls our economy, our lives and our future. This private banking cartel was unconstitutionally granted this power by a devious, scheming group of senators back in 1913. In essence what they did was place the American people into indentured servitude by forcing The People to pay usury on worthless fiat currency (paper money created out of nothing), not to fund the government, but to enrich the bankers and fund wars in which America should never be involved. This system exists not to fund the government, but to allow the U.S. Congress carte blanche power to continue funding unconstitutional agencies and programs by providing them with a bottomless source of worthless ink.

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  by winmeik on April 12th, 2010

• That is truly sickening. We desperately need to shut down this thievery under the cover of false authority. Unfortunately, not enough people are left willing to sacrifice their fortunes, their honor, and their very lives toward the cause of freedom. But there are plenty of such people on the other side.
  We get the gov't we deserve.

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  by LarryH54 on April 12th, 2010