Death & Taxes 2010: The Rundown

I hope you have taken a good look at the 2010 Death and Taxes chart. After going over the chart myself, I came up with a crash course on the proposed 2010 Federal Budget:

Taxes to be collected (Reciepts): $2,333 Billion

Ammount to be spent (Outlays): $3,591 Billion

The government will spend $1,405 Billion more than it recieves in taxes, this is deficit (more on this later).

Where your tax dollars go:

• Military / National Security Discretionary: $901 Billion (25.1% of total budget)
• Social Security: $696 Billion (19.4% of total budget)
• Non-Military / National Security Discretionary: $520 Billion (14.5% of total budget)
• Income Security: $477 Billion (13.3% of total budget)
• Medicare: $452 Billion (12.6% of total budget)
• Medicaid: $ 290 Billion (8.1% of total budget)
• National Debt Interest: $176 Billion (4.9% of total budget)
• Veterans Benefits: $57 Billion (1.9% of total budget)
• Other: $24 Billion (.7% of total budget)

Play around with the numbers a bit, try and picture how your life would change if you re-adjusted the budget the way you think it should be.

For more a more detailed break-down on each of these main spending categories, check out the 2010 Death and Taxes chart. You can even use the chart it to calculate how much you personally pay for each part of the budget. For example, based on my yearly salary, I spend $4,500 a year on Military / National Security Discretionary.

So do yourself a favor and take a good look at this chart. It will put into perspective the federal taxes that you see taken out of every paycheck you get.