Do you like the fact that 100% of your Federal Income Taxes go toward paying interest on the Deficit?

Question

The government has over 100 other taxes it imposes on you to pay for actual government "services." Local taxes, gas taxes, and property taxes are examples. With none of the future presidential candidates except for Ron Paul pushing for any reduction in government spending, how do We The People stop government from the reckless spending and waste of our money?

Answer 1

Actually your figures are wrong.

Total interest paid by the federal government on outstanding :

Treasury Notes and Bonds
Savings Bonds
State and Local Government Series Securities

In 2006, was $405,872,109,315.83

In 2006 Federal Tax revenue was :

Individual Income Tax ....... $1,043,900,000,000
Corporate Income Tax...... $....353,900,000,000
Social Insurance Tax......... $....837,800,000,000
Excise tax........................... $......74,000,000,000
Estate and Gift Tax........... $.......27,900,000,000
Customs Duties................ $.......24,800,000,000
Miscellaneous Receipts.. $.......45,000,000,000

Total : $2,407,300,000.000

Expenditures: $2,655,400,000,000

Deficit: $248,200,000,000

EDIT:

Why do people like the poster below, make such statements.

Are the just ignorant or do they not even try to research what they spout.

Bush has not borrowed more money than all previous President combined, that's just silly.

The national debt has increased 53% since Bush was elected.

But if you consider, it increased 39% under Clinton.

When we didn't have two wars and hurricane katrina. Plus, Bush wasn't able to cut the Military by 420,000 troops like Clinton did.

Answer 2

No, our Federal Income taxes should be used to help the smaller business that actually care about people, NOT Mega-marts like Wal-Mart, the oil companies.. they should also help out the poor in this country like we do in the African nations and Iraq, and to help care for the mentally ill and those already physically ill and to make people who aren't already ill more aware of and provide easier acess to information so they can prevent themselves and others from makeing things larger. That's wher our Income tax should be going. Make America the caring country I know it can return to being and not the ME, ME, ME country it is now.

Answer 3

hmm
and just what can anyone do about it.It has been going on forever! Besides most people are working, trying to survive..many don't have time to worry about tax dollars going here and there, EXCEPT of course when they start talking about welfare or other entitlement programs. They don't much seem to care about corporate welfare..which is a hundred times more than the former.

Answer 4

Woodrow Wilson our past president sold the Federal Reserve to the Rothschild banking assoc, he realized what a foolish thing he had did and went to his death bed asking the American people to for give him, he was duped by a group of Jewish bankers along with congress, my Question is why our gov, doesn't take back the federal reserve, since they contribute nothing there is nothing backing the dollar except the value of America, yet we are letting these Jewish bankers rob our people of their hard earned money that they need to feed their families, the federal reserve rakes in billion of dollars per day, yet none of it goe's into the coffers of the U,S,Treasure, look at the income published for our gov , published in June of every year,or go to federal reserve on the net,it will make you sick,all of our income taxes are given to these scum bags , why? please research this it is important.

Answer 5

Stop giving them your money. Of course, to be effective that requires a massive, nationwide effort on the part of "We the People" (which is a meaningless catch-phrase, btw), so it's not likely to happen. Individuals and groups might protest federal and state theft occasionally, and they will continually be imprisoned or killed for doing so.

Answer 6

Get out of this war which costs billions per day. This president has borrowed more money than all the preceding 41 presidents together and almost all of it has been for the war. The rest the the spending needed has all been slashed, to allow us this war that is impossible to win.

Answer 7

yes, pretty soon we catch up with countries like the philippines, oh well, there is always the world bank.