If the U.S didn't spend so much money into its military.....

[Lifted]

but lets go straight to the source:

http://www.irs.gov/taxtopics/tc751.html

any questions?

If you earn $117,000 this year, you pay 6.2% into SS, which comes to $7,254.

I earn $1,000,000 this year, and I pay the same $7,254 into SS, which comes out to 0.7% of my income.

What other taxes are structured this way? None.

What general government programs does this tax pay for? None.

All of the money is paid to the people who paid in (and the rest is "borrowed" by the government to pay their bills).

I'd honestly like to know how SS is paid to people who didn't pay in. AFAIK you receive SS benefits based on the amount you've paid in, and you're not eligible unless you have paid in.

 

[SKORPI0]

 

[DesiPower]

Military budget is less than 20%

Feed and clothe and house the lazy and illegals is more than 50%

go troll somewhere else.

 

[Lifted]

I said it in another thread and I will say it again. If you do not touch the entitlement programs such as SS, Medicare/aid, and others and let them growth, you can cut ALL other programs to zero and it will not matter one bit.

I know I'd be saving ~30% of my income if all other federal taxes were abolished.

30% might not mean much to you, but it's a heck of a lot to me.

 

[pete6032]

Got into an argument on a computer parts forum about whether social security is a tax or not.

Today was a productive day.

 

[rudder]

The problem is the defense budget is grossly mismanaged. For what the U.S. spends we should be arming our soldiers with phased plasma rifles in the 40 watt range.

 

[nageov3t]

think of the military budget as an entitlement program... a lot of it just goes towards supporting the economy.

 

[Svnla]

I know I'd be saving ~30% of my income if all other federal taxes were abolished.

30% might not mean much to you, but it's a heck of a lot to me.

You do not understand my previous post.

If we leave ALL entitlements programs in tact and let them grown their normal rates and cut ALL (every single one) other programs, we still run out of money. That's why I said not matter one bit, not 30% is a small amount.

Read this thread, I provided several links about this topic =
http://forums.anandtech.com/showthread.php?t=2388971

 

[Gibsons]

I wish we had a forum for political discussions.

 

[JEDIYoda]

Not even close. Did you read this at some (mis)information site or did you take a peek at the actual budget which is freely available online?

Military budget is > 50% of US federal budget, and closer to 60% of tax dollars actually collected by the fed. This was in 2013. I believe the budget has shrank, a bit, this year.

Edit: Just checked. Defense spending accounted for 52% of the federal budget in 2013 if you take out social security and medicare (which we all pay into, and they currently pay for themselves, as in no other tax dollars are used to cover the expense, but the surplus is of course looted by the gov.).

FYI, social security and medicare are not taxes but mandatory retirement and health plans (which we may or may not ever collect on). The total collected for SS and Medicare in 2012 was $1.3T. Federal budget w/o these was $2.4T.

You don`t know what you are talking about....not a bit!!
In fact you are being just plain goofy!!
If in 2012 as of August the amount of money spent on the military was 28.3 %.....there is no way the Military budget for 2013ould have been 50%...lolol


As shown below, the % the US budget spent on the US military can depend on one's perspective. Another way to get useful related information is to compare how much $ has been spent on the US military/war with the amount of US revenue that has been received. Although it only provides a snap-shot of spending vs revenue year-to-date, it be very accurate when viewed at the end of the fiscal year. Currently, as of Aug 2012, about 28.3% of US revenue has been spent on the US military/war this year.

http://wiki.answers.com/Q/What_percentage_of_the_federal_budget_is_spent_on_the_military

 

[Grooveriding]

The US and the world as a whole would be better off. The huge amount, it's really astronomical, squandered on the military there is insane. If I lived there I would move rather than let my tax dollars be wasted in such a way.

More is spent on the military than the entire rest of the world combined puts into defense It's a ponzi scheme lining the pockets of contractors and affecting government policy to some pretty erroneous ends to keep justifying the expenditure.

With the way their economy is going down the toilet, the massive socializing that was bailing out private businesses on wall street with taxpayer's money, you'd think someone would think it might be time to reassess their priorities on wasting sums of money that could rectify so much that has wrong. How about doing something to curb the insane cost of a decent education down there ? Guess the benefits of a post-secondary education are not as valuable as building bomb #345,681

On the outside looking in, it looks like a fast track to implosion.

 

[JPS35]

Well, the Military budget is about $750 Billion. Half would be $375 billion. The National Debt is $17 Trillion. Even if this was applied to the Debt, it would leave $16.625 Trillion. It is the equivalent of 2.2% of the Debt. The 2013 deficit was $900 Billion. If applied to that, the deficit would be $525 Billion.

Given that the National Debt is over 100% of the GDP annually, the US would have to use all of that money to pay it off in one year which of course, leaves no money for spending.

Same as a credit card. If your credit card balance is 100% of the money you make monthly, and you cut your spending by 2.2% to apply to the credit card, you would never get it paid down. Interest would continue to accrue, and there would be no way to save or invest your money to better your economic status. In fact, most economists and accountants would tell you that once your credit card balance reaches about 50% of your income, your screwed. It would take major sacrifices to get this paid down. As an individual that may be doable, but for a country, no way.

To answer your question, no, it would have no impact on the economy or economic development.

 

[dmcowen674]

With the way their economy is going down the toilet, the massive socializing that was bailing out private businesses on wall street with taxpayer's money, you'd think someone would think it might be time to reassess their priorities on wasting sums of money that could rectify so much that has wrong.

How about doing something to curb the insane cost of a decent education down there ? Guess the benefits of a post-secondary education are not as valuable as building bomb #345,681

On the outside looking in, it looks like a fast track to implosion.

What is an education needed for?

Mickey D and Walmart jobs?

 

[her209]

http://www.usgovernmentspending.com/federal_budget_detail_fy15bs12014n_3000#usgs302

It's like 22% for 2014. Taking out any spending is disingenuous. We pay various taxes, they just have different names. Then the government spends the money. So defense is 22% of government spending.

It's only a tax when calculating the % of expenditures on federal programs. But at the same time, the same "taxes" paid are ignored when figuring how much is the effective tax rate being paid by individuals and couples because factored in, the rate would be a lot higher for poorer people and much lower for the rich.

 

[MongGrel]

think of the military budget as an entitlement program... a lot of it just goes towards supporting the economy.

Pretty much or we wouldn't have things like F-35's that are non functional laying around.

 

[alcoholbob]

Pretty much or we wouldn't have things like F-35's that are non functional laying around.

It's a jobs program for 40+ states. But it might not be very good going up against anything other than a 3rd world air force.

 

[inf1nity]

USA should lend out its army to other countries for a fee.


For example lets say two countries somewhere in the world get into a fight. America should offer their forces and defence tech to the country that makes a higher bid.

The country pays the sum to the American government, US forces go there, fight on their behalf, using US tech, and after they win, they go back.

Win-Win situation for all parties involved.

 

[Abwx]

Currently, as of Aug 2012, about 28.3% of US revenue has been spent on the US military/war this year.

http://wiki.answers.com/Q/What_percentage_of_the_federal_budget_is_spent_on_the_military

Lol, countries whose military expenses are 5% of their GDPs are already in the zone where they have to put their future on mortgage, i guess that at 28% it wont take long for the US to be bankrupt, or rather entirely owned by the privileged 1% of its population and other foreign investors.

 

[cuafpr]

think of the military budget as an entitlement program... a lot of it just goes towards supporting the economy.

we have a winner as someone that has worked in DoD budgeting offices this is more true... with proper management and a better system than PPB&E, you could cut it half and still come out ahead in terms of equipment and R&D.

 

[dank69]

USA should lend out its army to other countries for a fee.


For example lets say two countries somewhere in the world get into a fight. America should offer their forces and defence tech to the country that makes a higher bid.

The country pays the sum to the American government, US forces go there, fight on their behalf, using US tech, and after they win, they go back.

Win-Win situation for all parties involved.

Except the bad guys typically have more money.

 

[blankslate]

If the U.S. didn't spend so much on the military the world would be under the boot heel of Hitler's grandchildren.


....

 

[Spungo]

I can't believe how bad he's gutting our military. This pie chart should be at least 98% military. The other 2% would be military.

If the U.S. didn't spend so much on the military the world would be under the boot heel of Hitler's grandchildren

Not sure if retarded or just retarded.

Turning point of WW2: 1943-02-02
USA steps foot on mainland Europe: 1944-06-06

 

[dank69]

I can't believe how bad he's gutting our military. This pie chart should be at least 98% military. The other 2% would be military.


Not sure if retarded or just retarded.

Turning point of WW2: 1943-02-02
USA steps foot on mainland Europe: 1944-06-06

Pretty sure we were sending military aid long before that.

 

[Londo_Jowo]

You want to see what a real depression looks like, slash the military budget by half and you will see the unemployment rate go through the roof (30% +).

 

[FerrelGeek]

we have a winner as someone that has worked in DoD budgeting offices this is more true... with proper management and a better system than PPB&E, you could cut it half and still come out ahead in terms of equipment and R&D.

I agree with you but you do realize that many federal departments are managed just as badly. The military just has bigger visibility projects; easy targets for obvious reasons, the F35 pretty much tops that list.