Federal Spending

Many democrats are in favor of higher taxes on the rich in order to balance the budget.  Lets look at it: (all data from the congressional budget office)

Federal revenue, 2011: $2,300,000,000,000
Federal expenditures, 2011: $3,600,000,000,000
Federal deficit, 2011: $1,300,000,000,000

If everyone were to pay the same amount towards the revenue, then everyone would be responsible for: $7,419.  If you did not pay $7,419 in federal taxes, in 2011, then you paid less than average (your fair share?).

If everyone were to pay the same amount towards balancing the budget, then everyone would have to pay: $11,613.  If you did not pay $11,613 in federal taxes, in 2011, then you paid less than average (your fair share?).

If you did not pay $11,613 in federal taxes, in 2011, then the federal government spent more in your name than you paid in taxes.  If the government were totally efficient in redistributing wealth then you would have received $11,613 in benefits.

Suggestions for Spending Improvement: 

 

If we kept all revenue collections in tact, totaling $2.3 trillion in 2011, eliminated all spending except defense and interest on our debt, $927 billion, we could give each of the poorest 100,000,000 Americans a yearly check for $13,730 and still have a balance budget.

According to the "2012 HHS Poverty Guidelines" the poverty line for one person in the United States is: $11,170.

According to the census bureau in September of 2011 there were 42.1 million Americans living beneath the poverty line.

If we kept all revenue collections in tact, totaling $2.3 trillion in 2011, eliminated all spending except defense and interest on our debt, $927 billion, we could give every American who lives below the poverty line, 42.1 million, a check for $29,783.  That is nearly triple the poverty line.

Conclusion:

 

The federal government is so incompetent that despite the fact that it gets enough revenue to pay for all of the defense spend we are currently funding (including multiple wars) and the interest on our debt, and enough to give each American below the poverty line a check for $29,783 and still have a balanced budget.  The federal government spends $1.3 trillion more than that and yet we still have poor people.

And the democrats want to raise taxes on the rich?