Effective Federal Tax Rates
The U.S. tax system is progressive, with higher-income taxpayers facing higher tax rates.
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The U.S. tax system is progressive, with higher-income taxpayers facing higher tax rates.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
Under the current policy scenario, the federal government is projected to run permanent primary spending deficits.
https://www.pgpf.org/analysis/government-accountability-office-fall-2012-budget-outlook
Sequestration was designed to be a blunt instrument, whose arbitrary effects would be so undesirable that they would compel policymakers to reach compromise on budget legislation rather than allow the cuts to go into effect.
The national debt has risen dramatically over the past year.
https://www.pgpf.org/chart-archive/0322_debt_projection_next_year
The growing debt is caused by a structural mismatch between spending and revenues.
The federal government is slated to borrow about $1.9 trillion this year, and that annual shortfall is projected to grow to $2.9 trillion by 2034.
National security is both a vital priority and a significant part of the federal budget.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
The chairman's budget proposes a distinct change in the future role of government.
https://www.pgpf.org/analysis/analysis-of-chairman-ryan%E2%80%99s-2013-budget-proposal
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.