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TOPIC: Pentagon pigs out as $25 Trillion debt approaches.

Pentagon pigs out as $25 Trillion debt approaches. 26 Jul 2019 20:42 #1

  • Treebeard
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Under this deal, the Pentagon and its affiliated programs will get $1.48 TRILLION dollars over the next two years. The entire rest of gov't, including the VA btw, will get $1.30 trillion. That's $178.6 BILLION more for the Pentagon than the whole rest of gov't.

— Stephen Miles (@SPMiles42) July 25, 2019

'Unprecedented, Wasteful, and Obscene': House Approves $1.48 Trillion Pentagon Budget

Right now the Gross Federal Debt is $22,022,541,856,518.42.

House passes bipartisan budget bill with Trump support

Federal Tax Revenue FY2020 Estimate in USD Billions

So where does the federal government's revenue come from? Individual taxpayers like you provide most of it. Income taxes contribute $1.822 trillion, over half of the total. Another third, $1.295 trillion, comes from your payroll taxes. This includes $949 billion for Social Security, $289 billion for Medicare, and $46 billion for unemployment insurance.

Corporate taxes add $256 billion, only 7%. The Tax Cut and Jobs Act cut taxes for corporations much more than it did for individuals. In 2015, corporations paid 11% and income taxpayers paid 47%.

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