lundi 28 septembre 2015

Tax Breakdown for $50,000 Gross Income

I've been seeing a lot of stuff about taxes and what it goes towards lately.

Stuff like the image here:

http://ift.tt/1FE65dq

Which I'm pretty sure is inaccurate.

Or this:

https://scontent-iad3-1.xx.fbcdn.net...95&oe=56A6FDE2

Which I'm pretty sure is misleading.

My question is, for someone who makes $50,000 gross income, how much do they actually pay in taxes and what is the breakdown of that spending?

A comment on a website discussing the first picture said the following:

Quote:

I don't know about subsidies, but the other figures are not even close. Download the 2013 1040A tax form instructions from the IRS. On page 67, it says the tax for a single person making $50,000 is $8425.

Now look on page 85. It says these are the percentages of that money spent on different items in the US budget:

Defense, veterans, & foreign affairs: 24% ($2022)
Social security, medicare, other retirement: 38% ($3201)
Social programs (such as welfare): 21% ($1769)
Interest on the debt: 6% ($506)
Corporate subsidies: Not listed, but they probably go under "Physical, human, and community development: 9%" ($758)

A key form of "corporate subsidy" is tax breaks, so they don't show up in the budget. To know what they cost you, you'd have to estimate how much of your taxes would have been paid by corporations instead of by you without those tax breaks, and then subtract the amount that corporations did pay instead of you because they were able to do more business because of those tax breaks.
I know that whether or not a corporate subsidy in the form of a tax break can truly be considered corporate welfare/subsidy has been debated on these forums and rather than rehash that debate maybe we could just calculate 2 answers, one which includes them, and one which doesn't.


via International Skeptics Forum http://ift.tt/1VjIBl5

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