Disgusting example of regulation's effect on business

[GlobalWealth]

Most people just assume the taxes we pay go toward infrastructure and public services. However, that is incorrect. If you dig into the Congressional Budget Office website, you will find that app. 20% goes towards military, 21% goes towards social security benefits, 21% goes toward Medicare/Medicaid, and 5% goes towards unemployment benefits. The remaining 33% pays for EVERYTHING else.

Of course this is the federal budget only. Each state has its own budget office and you can look it up online for your state to see how the numbers work out, but the point is, very little of your tax dollars go towards infrastructure and public services.

The vast majority goes toward military and entitlement programs. Of course the socialist argument is that we need these entitlement programs to take care of people. The reality is that Americans save about 6% of income so they really can't afford to take care of themselves.

Contrast that with the Chinese savings rate is about 50% of income. China has no entitlement programs like social security, welfare, unemployment or medicare/medicaid. But its citizens can afford to take care of themeselves.

I am not advocating that China has a better system, only that in America, we have become accustomed to thinking the govt can and should take care of us. But the reality is, it isn't necessary to survive or even thrive. And your taxes don't necessarily provide a better quality of life, they only 'spread the wealth' to those that chose not to take care of themselves.

 

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