Tax Cuts and The Federal Budget

TAX CUTS The Federal Spending Deficit (in Billions) 1,400 1,300 $1258 AND THE FEDERAL BUDGET 1,200 1,100 1,000 Obama's spending plan: $929 billion deficit 900 B00 700 600 500 400 $407 300 -$246 $233 200 $83 S160 100 2001 Federal Spending $1.9 t $3.8 trillion 2010 Federal Spending S480.9 $787.6 $309.75 Sa980 $63.70 $140.96 $366.3 $928.50 $1830 $464.0 $30.2 $57.36 $54.4 $I04.20 $16.18 $29 S72.70 $151.4 $204.2b $250.7 PENSIONS S779.3 S776.10 S87A A S791.46 $148.6b S102.7 $830.9 $499.90 $09.7 $294.B0 $5.50 $43.3 $88.9 S47.3 $25.8 $22.50 $132.7 $74.7 $254.50 S293.5 $14.9 $0.05 $0 $21.7 BALANCE HEATHCARE EDUCATION DEFENCE WELFARE PROTECTION TRANSPORTATION GEN GOVT. OTHER SPENDING INTEREST 2011 If Bush's Cuts Expire $3.6 trillion $3.2 trillion 2011 if Bush's Cuts Don't Expire TAXES PAID I by a married family with two children i in 2011 if Bush's tax cuts expire. TAXES PAID I by a married family with two children I in 2011 if Bush's tax cuts don't expire. I $50,000 INCOME TAXED $-112 $85,000 INCOME TAXED $4,583 $150,000 INCOME TAXED $18,468 $500,000 INCOME TAXED $65,287 I $50,000 INCOME TAXED $688 $85,000 INCOME TAXED $5,383 $150,000 INCOME TAXED $19,268 $500,000 INCOME TAXED $61,292 Sources USGovernmentSpending.com, CredLoan.com CREDITLOAN° REAL ANSWERS. REAL SOLUTONS.