The Learning Curve

New tricks for an old dog.

Defense spending as a percent of personal income tax 1994 – 2010

There are two data sets which form the basis of this graph showing U. S. Defense spending as a percent of Federal individual income tax receipts for the years 1994 through 2010, and they both come from the Financial Management Service of the U. S. Treasury. The information consists of hard numbers. The numbers are not statistical estimates, but rather they are simple bookkeeping entries of how many dollars were received and how many dollars were spent.

The significant detail is that in 2009 and 2010, U. S. Defense spending was at a level that consumed more than 77 cents of every dollar received through personal income tax payments. Looked at in a different light, it means that U. S. Defense spending was borrowed money added to the Federal debt at a rate of 77¢ for every $1 of personal income tax collected.

Make of it what you wish.

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Written by Tom Fox

08/07/2011 at 9:05 am

Posted in Politics

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