MY BLOG: Fun Facts #1 – US Government expenditure and income.

  • The US Government spends roughly $732 Billion per year on welfare programs yearly. (including Medicaid).

 

  • The US Government spends roughly $598 Billion per yearon military which includes the Army, Marine Corps, Navy and Airforce.

 

  • The US Government spends roughly $634 Billion per year on education.

 

  • The US Government spends roughly $100 billion dollars per year on law enforcement.

 

  • The US Government spends roughly $3.2 trillion per year on healthcare.

 

  • The US Government spends roughly $20 billion per year on immigrationenforcement.

 

  • The US Government collect about $3.34 trillion in a year income and payroll taxes .In FY 2018, total US government revenue, federal, state, and local, is “guesstimated” to be $6.21 trillion. Federal revenue is budgeted at $3.34 trillion; state revenue is “guesstimated” at $1.59 trillion; local revenue is “guesstimated” at $1.28 trillion.

 

  • The US Government collects about $341.7 Billion in corporate income tax per year.

 

  • State and federal inheritance taxes began in the United states only after 1900, while the states (but not the federal government) began collecting sales taxes in the 1930s. The United States imposed income taxes briefly during the Civil War and the 1890s. In 1913, the 16th Amendment was ratified, permanently legalizing an income tax.

 

  • A Universal Basic Income (UBI) of $10,000 per year for all Americans would cost $3.7 Trillion Per Year. This seems excessive until we take into account the benefits, I posted an article on this earlier today that you can read here.