Thursday, May 21, 2009

A Look at the Federal Budget Part II

S0 -- where do we get out money from? Click on all images for a larger image.


The source of government revenue has been remarkably consistent over the last 40 years. It comes mostly from individual income taxes. However, notice the large percentage increase in social security taxes as a source of revenue.


And as a percent of GDP, the source of revenue has been pretty consistent as well with the big increase occurring in social security taxes.

1 comment:

olephart said...

Social Security revenues have been used as a crutch since Johnson. Originally there wasn't much surplus because people died faster and it was used to hide the overall percentage cost of the Vietnam War.

Reagan increased Social Security revenues, bottom up taxation, and they have been stealing the surpluses ever since. The main reason why they are concerned about Social Security is that when the surplus goes neutral and then negative they not only will not have it to steal but will be forced to repay the debts as obligations.

Social Security isn't broken, it's been robbed!