"It’s a terribly hard job to spend a billion dollars and get your money’s worth."
     -- George M. Humphrey, U.S. Treasury Secretary, February 23, 1954.
"According to some estimates, we cannot track $2.3 trillion in transactions."
    
-- Donald H. Rumsfeld, U.S. Defense Secretary, September 10, 2001.

 

Paying More Than Our Fair Share
Posted Mar 28, 2005 | Link

Now that the federal budget has been released for Fiscal Year 2006, the Office of Management and Budget has updated the most useful artifact it produces--the historical tables. While it may seem boring to some, I love poring over this stuff and looking at how we've done.

While there will be many more articles on Stop The Buck about this data (I live to both discover and uncover graft), I thought I would leave you with a simple graph. Here is the share of the federal budget that we pay every year through income and retirement taxes.

Notice how our piece (the citizens' piece) of the pie has gone steadily up from about 51% to over 82% since FY1950? Does anyone care that corporate America has seen its share of our federal tax burden fall from a FY1953 high of 30.5% (in FY1943, it paid exactly half of all taxes) to 9.3% currently? In other words, American corporations pay only 1% more of our national tax bill than "miscellaneous" taxes (estate, gift, excise, customs duties, etc.). Sound fair?

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