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Why the Swedes love doing something that Americans hate
(www.bbc.com)
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this post was submitted on 28 Apr 2024
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Source?
Handy Infographic from the Congressional Budget Office (CBO):
.
Math warning:
So, not quite the previous poster's 55%, but pretty close. There is also an "Other" column which likely includes other social spending and may have gotten us to that number. But, it's enough of a mixed bag, and way too much work, to try and pick it all out.
While the US could certainly adjust it's spending in a lot of good ways, the idea that the US spends "nothing" on social programs is provably false. These numbers also get weird and much harder to pin down when we look at State level taxes and spending. Many years ago, I dug into education spending in the US. And while Federal Education spending is a drop in the bucket, the actual number is pretty large, because it's considered a State responsibility and each State spends large amounts of money on it.
For example, my home State of Virginia budgets $29.9 Billion for "Health and Human Services" this Fiscal Year 2024 and $25.0 Billion for "Education", those two line items eating up about 62% of the State budget.
Thanks, and your math makes sense, but I think this is a misinterpretation by op. It's fair to say that as a percentage of expenditure... But not tax dollars.
Social security gets complicated because it's set up as a trust fund and has investments that grow to support disbursement rates. It also means that the expenditures should be carved out, same as the inbound tax. This should shift the calculations meaningfully.
Social security is a Ponzi scheme, not a trust fund. There's no growing pot of money, the inbound payments are directly used to pay current benefits.