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FBN’s Lou Dobbs breaks down how much tax revenue the federal government brings in and how the money is actually spent.
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Today but we didn't wanna just due to normal it's tax day kind of nonsense here we -- wanted to show you some numbers that.
-- -- the government's taking promise it but there's sort of giving back to us and so sweet of them to do that is that.
In fiscal year 2011 the federal government.
Through income taxes.
Principally.
In payroll taxes collected are just about two point I'd love this part 2.3.
True trillion.
Dollars -- 2.3 trillion dollars.
2.3 trillion dollars is.
By anyone's estimate a very large amount of money individual income taxes payroll or.
Payroll taxes accounting.
A for just about 80% of all the revenues.
Corporate income taxes other -- make up the balance which means individual Americans pay the federal government.
Are you ready one point nine.
Trillion dollars in fiscal.
2011.
All of this 2000.
A -- -- and a part of all the money go well a big chunk of it goes to the three largest entitlement programs.
And that starts set up to some pretty serious money as well.
7250.
Billion.
Dollars.
Goes to Social Security.
Another 480.
Billion dollars.
He's got to be real numbers don't -- Medicare.
And another.
275.
Billion dollars.
-- -- Problems is -- this way.
Merited.
And that's a total of are you ready.
One point five trillion.
Dollars.
And in 700 billion dollars for the Pentagon budget for what we spend on defense 227.
I'd -- this.
220.
Seven.
Billion.
Dollars.
Just in interest.
On the debt.
That staggering.
And we're already over budget that's because the federal government spent.
Three point six trillion -- over here three point.
Six.
Trillion that -- that you can say it -- you can.
You can write a number three point six and that encompasses three point six trillion dollars it's it's stunning.
And after taking all that money from taxpayers.
By the -- just about a fourth of our entire economy.
That leaves us with a total deficit because when you spend that much money.
-- things happen like deficits.
The deficit amounts to one point three trillion.
Dollars.
-- 2000.
Eleven.
And you think you're gonna get a refund.
We had a deficit.
Almost.
If you will.
That same size.
As well we're actually paying in taxes.
Think about.
One point nine trillion dollars.
And then we borrow almost that much money one point three trillion dollars.
To keep this government.
Are caught operating because working would be too strong -- word should.
