Health care received 29.6 cents of each dollar. Of that 11.4 cents went to Medicare, 12.9 cents to Medicaid. Medicare is also 42% funded by payroll trust fund. One-third (1/3) of Americans receive Medicare and Medicaid, mostly elderly. Medicaid is more cost effective than private insurance. 24 cents went to military. Of the 24 cents only 4.8 cents to our troops for pay, housing allowance and other benefits, 5.9 cents supports veterans, providing income support, job training, etc. but 12 cents went to military contractors, including Pentagon’s biggest contractor, Lockheed Martin. Lockheed Martin’s CEO’s income was $20 Million, including bonuses. On average, CEOs make $15.6 million yearly. Federal debt interest 15.8 cents. Education 2.2 cents, less than other industrialized countries. Government 3.7 cents, transportation 0.8 cents, food and agricultural 4 cents, unemployment and labor 7 cents, housing and community 3.4 cents, International Affairs 1.3 cents (encouraging cooperation, reducing risks of war). National Institutes of Health 1.1 cents, which funds federal medical research into cancer, opioid epidemic, Alzheimer’s disease, and more. Energy and environment 1.3 cents. Of this 1.3 cents, EPA gets 0.3 cents, which ensures clean air and water, clean up toxic Superfund sites, keep lead and other dangerous substances from our environment, and is slated for Trump’s proposed budget cuts. Other Trump 2020 proposed budget cuts include spending $1.5 trillion less on Medicaid, instead allocating $1.2 trillion in state block-grant program, $25 billion less on Social Security, $845 billion less on Medicare over the next 10 years, impacting rural America hard. Other announced budget cuts are education, 40% cut for food inspectors, $220 billion for Supplemental Nutrition Assistance Programs which serves 45 million people, $21 billion for Temporary Assistance for needy families, plus other programs that hit hard the poorest Americans, children, and elderly.
Trump’s 2018 tax cuts reduced corporate taxes by 47%. During 1950’s, CEO’s average income was 20 times what average workers made. During 1980’s, CEO incomes started to skyrocket, while workers’ incomes declined (adjusted for inflation) with union membership declines and federal tax changes. Today CEO’s average 361 times that of average workers. The top 1% now hold 38% of all privately-held wealth, own more wealth than the bottom 90%. Much is made about the 44% of Americans who don’t pay Federal Income Taxes, mostly due to low wages. They do pay state, local, and sales taxes that take a large share of their income.
(previous area resident)