Where Your Income Tax Money Really Goes

Where Your Income Tax Money Really Goes

These figures are from an analysis of detailed tables in the Analytical Perspectives book of the Budget of the United States Government, Fiscal Year 2016 . The figures are Federal funds, which do not include Trust funds — such as Social Security — that are raised and spent separately from income taxes.

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Mitt Romney Calls U.S.A. a ‘Foreign Country’ in His Tax Returns

Heaven forbid President Obama did this. It might cause Teabaggers to have a heart attack.

Maybe Mitt Romney thinks he lives in Switzerland?

When the former Massachusetts governor released his official 2011 tax return Friday, he (or whoever actually filled out the form) appeared to have mistakenly referred to the United States as a foreign country.

“If you have a foreign address,” the tax return instruction reads, “also complete spaces below.” In the space below, under “foreign country name,” Romney’s form reads “USA.”

Several tax preparers confirmed to Whispers …

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Romney Party Yacht Flies Cayman Islands Flag

Mitt Romney and Republicans have the gall to accuse President Obama of being un-American, and this is the stuff he is a part of in broad daylight. There is no lie too big for this group.

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Mitt Romney Would Pay 0.82 Percent in Taxes Under Paul Ryan’s Plan

Under Paul Ryan’s plan, Mitt Romney wouldn’t pay any taxes for the next ten years — or any of the years after that. Now, do I know that that’s true. Yes, I’m certain.

Well, maybe not quite nothing. In 2010 — the only year we have seen a full return from him — Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in …

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Super-Rich Entrepreneur Nick Hanauer Demonstrates the False Premise of The Rich as Job Creators

Another GOP Lie Busted: Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office

Another GOP Lie Busted: Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office

Federal spending is lower now than it was when President Obama took office. I’ll pause to let you absorb the news.

In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.

Here’s another interesting fact. Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total …

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Teabaggers Must Really Dislike Eisenhower, Nixon and Reagan

Teabaggers Must Really Dislike Eisenhower, Nixon and Reagan

Note that the tax rate on the top marginal tax rate under President Dwight Eisenhower, a Republican, was 91% between 1956-1960. In other words, the very wealthy only kept 9% of what they made. Under President Richard Nixon (Republican), the wealthy only kept 30%, while under the Ronald Reagan, another Republican, it was an even split. Talk about “spreading the wealth (or in Teabagger lingo, “socialism”).

President Obama only wants to return the top marginal tax rate to 39.6%, what they were before President George W. …

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Taxes Lowest in 60 years, Thanks to Democrats and Obama

To follow up on the previous post on this topic, it is pretty clear that Republicans and Teabaggers have no credibility anymore. For Republicans, this was pretty obvious after the eight years in which President Bush, along with a Republican majority in Congress for most of the time, drove our country into a ditch. Realizing they can’t run on their own record, Republicans are now left to lie about what Democrats do.

For the Teabaggers, those who follow politics closely know they are a farce, but …

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