Originally posted by AutomaticSlim
I think I found out why America is in so much debt, the OP charts explain it all. All of those agencies, departments, operations, companies,
directors, and on and on are incredibly expensive to run and operate. I can't fathom the money spent on that list alone in a year, 10 years? egads.
Then you add on the so called entitlement programs, which is an insult to those on social security who actually paid into the system, if it's your
money, why is it an entitlement when the holder of your money gives it back to you at a later date?
Because some people who didn't pay in that much are getting much more money (older generation vs younger generation), this is especially true with
Medicare. Put in your medicare taxes in an investment account. How long would it last? Maybe from age 65 to age 67. To be fair Medicare would keep
track of every piece of money and cut you off. Note that private insurance for YOUNGER people is now $1500 a month, for that age group it woudl be
$3000-$4000 a month. How much money would you need to accumulate so that annunitized you'd get that income? Well over a million, probably two
million. How much did people pay in Medicare taxes? Far, far far less.
It is far from being balanced, but the political problem is that if somebody paid taxes (no matter how much or how little), they feel entitled to
substantial benefits, even if this means that future (i.e. me) will have to pay much higher taxes and get much lower benefits.
Anyhow, you add the wars, the salaries and benefits of government employees, soldiers, contractors, etc. It's no wonder we are in the hole.
No, government salaries aren't at all the problem. They're actually pretty small. On the macroscale the big changes:
a) exploding medical care (active resistance to any cost controls), mostly Medicare but also government/military/VA benefits
b) extra wars
c) lowering tax rates
If, for instance, say Gore had been elected, and there was (a) no Iraq War, and (b) same tax rates as in Clinton administration, then the financial
position would be much better.
Note that the Bush administration & Congress added a significant new socialized medicine program (Medicare D) with NO added tax or revenue to pay for
it (and now Republicans harp on Obamacare falsely for being socialized medicine, when in truth it is
guaranteed-profits-for-private-insurers-medicine). So everybody 65 and older now gets subsidized pharmaceuticals as well, and they never paid any tax
for this during their working lives, but they feel very "entitled" to it at others' expense.
The fact is that no one really has a clue anymore as to the extent that their tax dollars are being spent each day. I think that the financial
situation would have been corrected long ago, if we were informed.
Our ignorance is our fault.
I disagree. People have known where and how much the money is going.
edit on 16-1-2012 by mbkennel because: (no reason given)
edit on 16-1-2012 by mbkennel because: (no reason given)