Where your taxes will go in 2017

The 2017 federal income tax deadline is April 18. This provides an extra three days for taxpayers who are wondering what Washington is doing with all their hard-earned tax dollars.

This year, Washington will spend a near-record $31,154 per household and collect $26,761 per household in taxes. The resulting budget deficit of $4,393 per household will bring the total national debt to $160,000 per household – all dumped in the laps of our children.

Federal spending has surged more than $7,000 per household since 2000, and is projected to expand another $6,000 to $9,000 per household over the next decade (all numbers in this article are adjusted for inflation). Unless spending is reined in, similar tax increases must eventually result.

Washington will spend this year’s $31,154 per household as follows:

Social Security/Medicare: $12,141. The 15.3 percent payroll tax, split evenly between the employer and employee, covers most of Social Security's and a small portion of Medicare's costs. The typical couple retiring today will receive Social Security benefits 13 percent higher than their lifetime contributions, and Medicare benefits that are triple their lifetime contributions into the system, even after adjusting for inflation and net present values. This system can remain sustainable only if there are enough workers to support all retirees, which is why it risks collapsing under the weight of 77 million retiring baby boomers. Unless reformed, these costs will leap to an unsustainable $30,000 per household over the next few decades.

Anti-poverty programs: $6,143. More than half of this spending subsidizes state Medicaid programs that provide health services to poor families. Other low-income spending includes: Temporary Assistance for Needy Families (TANF), food stamps, housing subsidies, child care subsidies, Supplemental Security Income (SSI) and low-income tax credits. President George W. Bush increased anti-poverty spending from $3,500 to $4,500 per household, and President Obama expanded it past $6,000, mostly due to ObamaCare costs.

Help FAIRtax Become The Number One Issue in 2021

Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.
To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.

Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!