Fwd: Budget Bulletin: How Washington Is Spending Your Taxes in 2010

Budget Bulletin Your source for federal budget news and analysis Recent Updates Obamacare: Impact on Taxpayers Think Tax Day Is Expensive This Year? Just wait. Tax Day Or Pay Day Featured Research How Washington Is Spending Your Taxes in 2010 By Brian Riedl Taxpayers filing their 1040s are likely wondering just where all their hard-earned tax dollars are going, anyway. Washington will spend $31,406 per household in 2010 — the highest level in American history (adjusted for inflation). It will collect $18,276 per household in taxes. The remaining $13,130 represents this year's staggering budget deficit per household, which, along with all prior government debt, will be dumped in the laps of our children. Government spending has increased by $5,000 per household since 2008, and nearly $10,000 per household over the past decade. Yet there is no free lunch: If spending is not reined in, then eventually taxes must also rise by $10,000 per household. Washington will spend this $31,406 per household as follows: >> Click here to read Brian Riedl's full report Chart of the Week Get more charts with Heritage's Federal Revenue and Spending Book of Charts About The Heritage Foundation Founded in 1973, The Heritage Foundation is a research and educational institute - a think tank - whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The Heritage Foundation | 214 Massachusetts Ave NE, Washington, DC 20002 | 202.546.4400