Sunday, August 19, 2012

Where did your tax dollars go?

Along the lines of my earlier comment that we need to decide what we are willing to pay for, go to this site to get an idea of what you personally are paying for each government service.

I'm a little unclear how they are handling the deficit in this calculation.  If the estimates are based on federal expenditures, than the numbers are about right, but your total taxes in this calculation are about 37% too high, because in fact the government is having to borrow 37% of its budget to cover its expenditures. If your taxes are correct, then you need to inflate the numbers in each category by a bit more than a third to get the actual cost (the extra third is what was borrowed, and will someday have to be paid back by your children or grandchildren or great grandchildren, or ....)

So now you can look at each category and ask yourself if the services offered in that category are really worth to you what you are paying for them.  If so, we just need to all raise our taxes and pay for it.  If not, then we need to downsize or eliminate that service.