Discretionary and mandatory outlays of the US federal government | Khan Academy
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Discretionary and mandatory outlays of the US federal government.
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Thanks for sharing!!!
wow i REALLY didn't expect to find you here
Please make a video on how to edit the configuration file of raspberry pi zero so that it can output its video signal
I wonder what the breakdown of the payroll taxes coming from the employer versus the employee are.
50/50
Woooooooooow.
Can anyone help me here?
I still can’t understand the difference between individual income taxes and payroll taxes?
Individual income tax is paid at the end of the year and has multiple tax brackets depending on level of total income. Payroll tax is taken out of each paycheck for Social Security (12.4%) and Medicare (2.9%) at 15.3.% of your pay --- paid half by you and half by employer (actually all by you since his portion could be higher pay for you). So if you pay 15% in income tax you are actually paying 30.3% in overall tax to federal government.
All the boomers be like "Hands off my Social Security and Medicare, I paid into it". Yeah right, I'm paying into it right now and I know I'll never see a dime, so I'm doing the responsible millennial thing and dumping 20% take home into savings and IRAs.
Corporate taxes should be higher
No. All taxes should be lowered. Abolish Public Schools.
Abolish Social Security.
@@dl2839 abolish selfish people. Corporate taxes should be the same like everyone else's. No tax cuts
@@bethllo6307 Public Schools are evil institutions based on propoganda and indoctrination. Public Schools cost 93% more per student than Private Schools. Private School student score far higher on tests than Public School students.
Social Security is an insidious Ponzi Scheme. Social Security gives an average of *200K* when investing that money stolen through payroll taxes would actually net *2.9 Million* if put in the S&P 500.
Abolish Public Schools and Social Security. Stop the selfish thieving bureaucrats that steal our money!
Grade: “D”
The publishers of these graphs, and thereby the moderator/lecturer, failed to recognize, and falsely reported that an entitlement includes Social Security (SS). This is incorrect. SS is an investment paid into, and sub-sequentially used by once employed people. This does not meet the definition of an entitlement. It is important to be factual when presenting to the masses.
Additionally, no where in the graphs does it reflect the ever increasing expenditures for our “military” budget. Use of these graphs shows a lack of understanding, or a deliberate political persuasion that could be lumped in the propaganda category. Either option usage shows a lack of proper unbiasedness and failure of properly preparing for a lesson plan.
I provided you with a “D” because I know you can do better, and your intent and ability of explanation and presentation was fine. PLEASE DO BETTER!
DannyBear70 boi the literal term used to classify SS is entitlement, despite it being it a pretty bad descriptor.
Social Security is an entitlement in not only the literal but also the legal sense of the term. Social Security is Title II of the Social Security Act. Medicare is Title XVIII - and other programs make up other titles of the Social Security law. So that's where the root word "title" comes from. Title = Entitlement.
Although most taxes are not levied at the federal level. (You even mentioned state taxes which don’t go to the federal government, so why are you mentioning them?) Most Americans don’t even realize that, even though they pay them everyday. How is social security an entitlement? I pay into it. That makes it insurance. I’m also calling BS on the “discretionary”. The military budget is far larger than 24%. What is your source material? As a matter of fact, until you do that, I’m calling BS on this entire video. Go back to math man. I’m not an economist and even I can tell you’re full of it here. Also, nice how the video just cuts out mid sentence. This ain’t the Sopranos.
Steven Baumann the video says it: the data comes from the White House. If you want to check anything related with the budget that is very available. He just mentioned state taxes when he referred to income tax because it is true that that is divides between the Federal and state government. Well the reason why you are "entitled" is because you pay for it... But that is actually not true... You could have put your money in a different investment fund and would have gotten a lesser return( in terms of pensions)... And in term of "insurance" you would have to pay a different rate in the private market which implies that the government is subsidizing some of the extra costs.
This comment is not only incorrect but it's also disrespectful. You said it yourself, "I'm not an economist." However, I'm an accountant. ;)
Social Security is an entitlement in not only the literal but also the legal sense of the term. Social Security is Title II of the Social Security Act. Medicare is Title XVIII - and other programs make up other titles of the Social Security law. So that's where the root word "title" comes from. Title = Entitlement.
There is mandatory spending and discretionary spending, and yes they are different. Mandatory spending is set by statutory criteria. Discretionary spending is set by the House and Senate Appropriations Committees and those appropriations are subject to a set of budget enforcement rules and processes that differ from those that apply to mandatory spending. According to the Congressional Budget Office (CBO), roughly 60% of federal spending in 2012 (other than for the government’s net interest costs) was mandatory spending, which consists of entitlements (that word again) such as Social Security, Medicare, and Medicaid. Discretionary spending consists of roads and the military. So you can call BS on the video, but I will cite my Bachelor of Science in Finance.
Jeremy Dippel thank you for saving me the time of typing a similar message. Beautifully said too.
Social security is welfare.
Section 8. Clause 1. The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States.