< HOME  Monday, November 21, 2005

Where Do Your Tax Dollars Go?

To illustrate my point about interest with figures that are closer to home, this link shows state and city break downs of how your federal tax dollars are spent.

For example, the average household in NY paid $7044 in federal income tax, of which $1310 went to pay interest on government debts.

Wow! That's a lot!

But as usual, there is more truth in what is NOT said than what is said.

What these fact sheets DON'T say is what portion of money spent on every other item on the list goes to pay interest on someone else's debts!

Huh? What are you talking about qrs?!!

Yes, folks. A big chunk of the $1428 per average NY household that pays for healthcare, pays for interest on debt held by hospitals and other health care providers. The same goes with 'defense' manufacturers that pay interest on their debts, and public housing complexes that pay interest on mortgages, etc., etc., etc.

And that's not all, folks!

Many hospitals are tax-exempt non-profit organizations. So, interest paid on their bonds is tax-exempt!

This is what happens when the source of our money is centralized, AND not a single dollar circulates without interest being attached to it.

Something's gotta change, or something's gonna give.


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