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Military Spending Gets
Forty Per Cent of Every Income Tax Dollar
By Pamela Schwartz
04/06/07 "ICH"
-- - Northampton, MA -- As taxpayers prepare to meet this
year's April 16th tax deadline, they may want to consider
that almost 40 cents of every tax dollar is spent on past and
present military spending, according to a newly released
publication by the National Priorities Project (NPP), a
non-profit research organization that examines the local impact
of federal spending policies.
In
Where Do Your Tax Dollars Go?,
NPP offers breakdowns of how the federal government spends the
median household's tax payment in each state and over 200
cities.
In 2006, according to the National Priorities
Project, current military spending accounted for 27 cents of
every income tax dollar paid. Additionally, NPP determined that
nine cents of every federal income tax dollar paid today could
be attributed to borrowing to pay for past wars and military
build-ups. Finally, disability payments, health care and other
benefits accrued to veterans made up a little over three cents
of the federal income tax dollar, bringing total military
spending up to close to 40 cents of every tax dollar.
"To look at how the federal government spends
our taxes allows us to stare at our federal spending
priorities," said Greg Speeter, executive director of the
National Priorities Project. "Right now, military spending
crushes everything else, and we're not even close to the final
price tag on the Iraq War that has already cost us half a
trillion dollars."
National Priorities Project is also the leading
source for the
cost of the Iraq War, offering
breakdowns of the cost by state and congressional district.
NPP's latest
tax day publication
shows that spending on preventive security measures, such as
diplomacy, economic development assistance and locking down
nuclear materials, amounted to three-quarters of a penny.
Investing in renewable energy and conservation received
hundredths of a penny of the federal income tax dollar.
Domestic needs such as affordable housing and nutrition claimed
two and three cents, respectively. Meanwhile, beyond military
spending, the next two largest areas of spending occurred in
health at 21 cents of every tax dollar and interest on the debt
at 19 cents.
National Priorities Project (NPP) is a 501(c)(3)
research organization that analyzes and clarifies federal data
so that people can understand and influence how their tax
dollars are spent. Located in Northampton, MA, since 1983, NPP
focuses on the impact of federal spending and other policies at
the national, state, congressional district and local levels.
For more information, go to
www.nationalpriorities.org
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