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Taxes, Deficits, Entitlements

2010 Taxes, Deficits and Entitlements Fed Budget Operations, Procurement, R&D Personnel Other Taxes (excluding payroll) (discretionary) Includes Iraq/ Afghanistan 23% 5% % 9% Defense Health, Human Services Dept of State Transportation Veterans Affairs 15% 73% 69% Other Top 5 Recipients of Defense Contracts where does this go? 48% Individual Income Tax Corporate Tax Customs Duties, Misc 20,000 Excise Estate, Gift Tax 33% 15,000 900,000 10,000 4% 5% 4% U 675,000 5,000 3% increase over 2009. 450,000 Inflation: E 225,000 1.6% Highest I Falls Church,VA 2 Loudon, VA Income 3 Fairfax. VA Counties (data for 2011) Lockheed Martin • Revenue: USD 45 billion • Profits: - USD 3.8 billion Mandatory Spending / Entitlements Northrop Grumman ► Are not discretionary like defense spending • Spending funded by targeted taxes already collected by government • Examples: Social Security, Medicare • Revenue: USD 35 billion • Profits: - USD 2.5 billion • 2010 Q4 layoffs: 500 Social Security and Medicare in Trouble? Federal Deficit Causes O Economic downturn O Recovery measures • Bush tax cuts O War Costs Federal Deficit 14% 33% Defense Budget Iraq/Afghan wars 24% Medicare Deficit 30% Social Security Deficit in 75 years Cum. Defense Spending Soc Security Deficit when interest income is included In reality, a surplus Medicare Deficit in millions 12,500 37,500 in billions Taxes, Deficits and Entitlements by Defense revenue - Washington Technology: • Fed revenue sources - Heritage Foundation: • Highest income - Wikipedia: • Federal deficit causes - CBPP: • SS Deficit projection - FactCheck: Ravi Sarma is licensed under a CC Creative Commons Attribution-ShareAlike License BY SA in millions Ind. Income Tax Defense Spending 375,000 750,000 1,125,000 1,500,000 in millions Lockheed Northrop 000'sz Boeing Raytheon 000'os General Dynamics

Taxes, Deficits, Entitlements

shared by ravi on Jul 18
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An attempt to examine US tax revenues, outlays and deficits especially in light of the solvency of entitlement programs.


Ravi Sarma


Ravi Sarma


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