Share of Each Taxpayer Dollar Spent on Health Care Up 22 Percent Since 2012.
7:43 AM, Apr 16, 2015 • By JERYL BIER
Every year since 2011, the White House has used tax time to post a "Federal Taxpayer Receipt" showing taxpayers how their federal tax dollars are being spent. President Obama introduced the concept in his 2011 State of the Union address, and Wednesday the White House posted the fifth installment so taxpayers can see how "tax dollars are being spent on priorities like education, veterans benefits, and health care."
While users can punch in their own tax liability and see dollar amounts assigned to each category, the figures are based on percentages from the prior fiscal year budget. Comparing those percentages from year to year, taxpayers can see that from 2012 to 2014, the percentage of their taxes going towards federal healthcare expenses has jumped 22 percent.
In 2010, the year Obamacare passed and was signed into law, the healthcare percentage was 24.10. The following year, 2011, it dropped to 23.7 percent, and in 2012 dropped still further to 22.45 percent. After this, however, the trend sharply reversed. In 2013 the healthcare share jumped to 25.19 percent, and the latest numbers posted this week for 2014 show the highest proportion yet at 27.49 percent, a full 22 percent increase over 2012. This means that for every dollar a taxpayer pays in 2014, an additional nickel is going to pay for healthcare that had been spent elsewhere in 2012. Presently, over 27 cents on every dollar is spent by the federal government on health care, primarily Medicaid and Medicare.
One area impacted is national defense. For the five years of the National Taxpayer Receipt, the share for national defense was highest in 2010 at 26.3 percent. By 2014, this figure had fallen to 23.91 percent, a decrease of nine percent. Other budget areas have changed to varying degrees, such as veterans benefits which increased from 4.1 percent in 2010 to 5.93 percent in 2014, a 45 percent increase.
Although the White House characterizes the Federal Taxpayer Receipts as a promise kept by President Obama to let taxpayers easily know where their tax dollars are going, the administration also used the opportunity to take a dig at Republicans, providing a link to "See how two starkly different tax plans would impact you" where viewers can read about the president's "tax cuts for the middle class" and the Republicans' "giveaways for the wealthy few." In the end, the White House doesn't just want taxpayers to know where their money is going, but where everyone else's is going, too.
3:50 PM, Apr 15, 2015 • By ETHAN EPSTEIN
The Daily Beast’s Michael Tomasky is celebrating this April 15 by declaring that America is “the most undertaxed advanced country in the world.” He claims that this chart offers proof of his assertion.
3:15 PM, Apr 9, 2015 • By KIMBERLY PINTER
In response to this post, several readers have accurately pointed out that a page of the IRS website, posted on March 25, clearly states that, “If you are not required to file a tax return and don’t want to file a return, you do not need to file
9:46 AM, Apr 3, 2015 • By KIMBERLY PINTER
UPDATE: Several readers have accurately pointed out that a page of the IRS website posted on March 25 clearly states that “If you are not required to file a tax return and don’t want to file a return, you do not need to file a return solely to claim this exemption.”
7:23 AM, Mar 20, 2015 • By JEFFREY H. ANDERSON
Given that Obamacare’s supporters like to take the Congressional Budget Office’s overly optimistic scoring of the president’s signature legislation as gospel, it’s fun to look at how poorly Obamacare is actually doing in relation to earlier CBO projections. When the Democrats rammed Obamacare through Congress in 2010 without a single Republican vote, the CBO said that the unpopular overhaul would lead to a net increase of 26 million people with health insurance by 2015 (15 million through Medicaid plus 13 million through the Obamacare exchanges minus 2 million who would otherwise have had private insurance but wouldn’t because of Obamacare).
9:24 AM, Mar 17, 2015 • By DANIEL HALPER
Senator Ben Sasse has introduced a law to eliminate the amnesty tax bonuses, according to a press release from his office.
“Presidents should enforce the laws—not unilaterally rewrite them—and it’s time for Congress to hold this Administration accountable,” Sasse says in a statement. “By preventing this Administration from issuing new Social Security Numbers to illegal aliens, the ABE Act would help restore the rule of law and save taxpayers billions of dollars.”
9:00 PM, Feb 2, 2015 • By DANIEL HALPER
Senator Jeff Sessions, the former ranking member of the Senate Budget Committee, says President Obama's proposed budget "raises taxes by $2.1 trillion."
"The President has sent another tax-and-spend budget to Congress," Sessions says in a statement responding to Obama's proposed budget.
Has there ever been a president so contemptuous of his own supporters?10:48 AM, Jan 23, 2015 • By ETHAN EPSTEIN
In spite of his own mostly impressive educational pedigree, President Obama has always harbored an anti-intellectual (or, to be generous, anti-academic) streak. Whether insulting art history in a failed appeal to "Real 'Muricans," or developing a philistine "College Scorecard," which reduces the entire value of education to future earnings, it's become apparent that in the president's estimation, American higher education should basically be a network of pretty good trade schools. You know, the kind of place where the “folks” drop their G’s when engaging in conversation.
2:50 PM, Jan 21, 2015 • By IKE BRANNON
Republicans have been tripping over one another to slag President Obama’s tax proposal, made in his State of the Union address, to repeal the step-up in basis on inherited wealth and use the revenue it would generate to increase the child tax credit and pay for free community college. While it’s almost Pavlovian for Republicans to attack any Obama tax proposal, this one actually contains the seeds for a radical tax reform that would be much more conducive to economic growth than anything currently on Paul Ryan’s desk.
Congress’s GSE reform plan has relatively little reward for the taxpayer without absolving them of all risk.1:10 PM, Sep 30, 2014 • By IKE BRANNON
Few people are happy with the limbo in which Fannie Mae and Freddie Mac currently dwell. The Treasury placed the two government-sponsored entities that buy and guarantee the bulk of all mortgages issued in the United States into a conservatorship in 2008 after the collapse of the housing market, which decimated the value of the loans they held and rendered the two insolvent.
Obama’s ‘economic patriotism.’Aug 11, 2014, Vol. 19, No. 45 • By FRED BARNES
When he’s in trouble, President Obama changes the subject to the economy. And in speech after speech, he utters some version of this line: “We know from our history, our economy does not grow from the top down, it grows from the middle up.”