Welcome back gang!
You made it to the 200 level. On the revenue side we're going to take a deeper dive into two areas of federal revenue. Income taxes, and Payroll taxes. Just these two sections explains 84% of all federal revenue.
On the revenue side, we’re going to break it up into 4 sections: Salaries and wages, Capital gains, Net business income, and pensions/annuities/IRA distributions. That will cover 94% of the income tax revenue.
We’ll then have a section on payroll taxes. That will wrap up the spending side of our 200 level posts. On the spending side we will break it up into 4 sections.
Social Security, Medicare, Medicaid, and Defense. These four programs explain 60% of federal spending. I’ll explain how the programs work and where all the money goes. That will wrap up the 200 level. From there we’ll start 300 and take a dive into some of the smaller but often politically charged parts of the budget.
See you next week!
Hey gang!
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Table of contents:
Intro: The US Budget 200