How Much Did You Pay In Federal Taxes?

So today is April 18th which is the tax filing deadline. After my accountant did my taxes all I can do is shake my head and say WTF? Our government spending is completely out of control. We paid damn near $100k FEDERAL taxes this year. I don't mind paying taxes as I realize government needs to function, but when you look at the fact half the population doesn't pay squat and then where the money is going, at some point we have to say enough is enough.

I saw an article in the Wall Street Journal breaking down where each $100 you pay in federal taxes goes to put the expense in perspective that everyone can understand. WSJ usually is subscription, so I've transcribed the graphic but you can find the article here. If you are a tax payer, you can figure out how much of the money you paid went to each of these items. Nearly 50% of your taxes goes to support social security/medicare/medicaid. Of course, I hardly get the benefit of it even though I am paying nearly $50k to support these programs.

How $100 in Federal Taxes is Spent

For each $100 in federal taxes you paid:

Social Security: $23.61
Medicare: : $15.26
Defense : $15.24
Medicaid: : $9.55
Other : $7.85
Interest : $6.25
Veterans : $4.58
Civilian Retire : $2.57
Transportation :$2.39
Refund Credits :$2.21
Education :$2.08
Food Stamps :$1.89
SSI :$1.53
Justice : $1.48
Housing Assist :$1.27
Foreign Aid :$1.14
ACA :$1.09

When are we going to revolt and force these politicians to take their hands out of our pocket?

a reply to: Edumakated

i didnt understand there are too many different sections.

a reply to: Edumakated

I paid a lot. I am in favor of a flat tax or a consumer tax.

a reply to: Edumakated

I'd wager to say you made around a million or a little over or under.

While I agree that it's a lot and that others don't seem to pay because they find loopholes, and the the money isn't always spent correctly, I do think that the money is needed and if a better more transparent process is used to spend tax dollars, the whole system would function much easier and the people paying into it would feel better.

But as of now, doesn't really explain much, it's you owe us this for this but we don't always need it for this so it's spent on that too, and we have to pay the people to work on that, and they need facilities for that as well, that you pay for.

Meanwhile we have Trump and others boasting that save big on taxes and find loopholes, when taxes were created with the main purpose of taking more the more that you make.

If it was better organized and represented openly, more monitoring to prevent these tax loopholes so that the people in the middle aren't picking up the slack for everyone.

The Blockchain would be a GREAT medium to show tax dollars being spent.

60% of my gross salary went to state and federal taxes. I took home less this year then last year because I made more this year! Different tax bracket. Yeah I was pissed and still am, especially when I see the lazy %€+*^! Collect disability and free govt hand outs down from where I live.

IMO these are the only things the Federal government should be spending tax payer money on:

Defense : $15.24
Transportation :$2.39
Justice : $1.48

And in the name of transparency, I am a 56yo Vet who has and will take advantage of things like veterans benefits and SSI.

Still don't think the Feds should be funding this, I would rather have the money and support myself.

-flame suit on-

a reply to: Edumakated

When are we going to revolt and force these politicians to take their hands out of our pocket?

As long as there is money to be made from poverty, illness and war we will never get their hands out of our pockets. Also most of the population would have to grow a brain so they can understand they are being screwed.

FICA....not nearly 100k (may 9% of that)

SS and Medicare were probably about that amount.

Then another 3k in property taxes for my home (we are pretty low tax rate all in all), and taxes for other rental properties.

As a % of income, i probably spend about 40% of my annual income in outward facing taxes (i.e., the consumer transaction is taxed, and not the product). In hidden taxes, i have no idea....but im sure its quite a bit. In Texas, for every alcoholic beverage you buy, you are paying a 6.7% markup to cover the "beverage tax", which is a tax that is paid by the vendor for the privilege of selling alcoholic beverages. Gaoline has some excise taxes that are similar.

Nearly 50% of your taxes goes to support social security/medicare/medicaid.

It's actually more than that.

Because:

1. Your employer is matching contributions you pay in to social security, and medicare.
2. The medicare capital gains surtax was created by the last administration.

+ the 50% of your income tax.

originally posted by: seasonal
a reply to: Edumakated

I paid a lot. I am in favor of a flat tax or a consumer tax.

I am in favor of what Thomas Jefferson did.

Abolish the income tax altogether.

Nowt...

I live in France.

Warmest

Lags

a reply to: Edumakated

Not to mention the fact that there is NO LAW IN THE BOOKS to justify Federal Income Tax.

Even senior members of the IRS quit and became whistleblowers to attest to this fact, saying they know the IRS is robbing people.

But anytime people bring it up the Supreme Court just rules in favor of the IRS - SURPRISE!!!

It's absolutely criminal.

a reply to: seasonal

Consumer tax seems the most fair.

I only paid very little, I only make 30k so far. Maybe one day I'll be graced with the forced higher tax bracket.

Good luck! That's sure a lot of money you worked for to watch fly away

-Alee

I don't have the breakdown on what went to federal infront of me- but for 2015 and 2016, I tracked *every* dollar I spent for the entire year, and categorized them so they could be tallied.
Categories based on tax rates.

As in, categories like:
electric bill
water bill
groceries
alcohol
gasoline
consumer goods (general sales tax)

etc, etc, etc.


I can tell you that I spent just over 50% of every dollar I earned on TAX.
Going by the same math, only 19.2% of my income went to my mortgage, of which something like 80% of the monthly payment is interest and property tax.

Meanwhile, the girl next door doesn't have a job, but still manages to live in a house (not an apartment, a house- same as mine) and then spends her days riding the bus for free... all out of my pocket.

a reply to: CriticalStinker

I really don't know enough about the flat vs consumer. It seems that consumer tax would be harder on the poor. How many pairs of jeans to super wealthy buy?

Flat seems like a more accurate tax, only my opinion.

I'm retired and paid upward of 40k.
Stock revenue mostly. Hubby is pretty instinctual.

a reply to: lordcomac

Are you suggesting she is doing it right or you are doing it wrong?

The government is bloated and they do spend too much money on wasteful nonsense, but I do not have a problem paying taxes to in order for people not to go hungry, the elderly have a basic level of income, education, housing, etc.

I'd rather pay taxes than see people starve or live on the streets.

I'll go one step further and say in many areas, we don't do enough.