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 2006, according to the National Priorities Project, current military spending accounted for 27 cents of every income tax dollar paid. Additionally, NPP determined that 9 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 3 cents of the federal income tax dollar, bringing total military spending up to close to 40 cents of every tax dollar.
Oh, yes, and beyond military spending, another large area of spending is interest on the debt at 19 cents.
By comparison:
- 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.
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