GlobalWealth
Silver Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
LEGACY MEMBER
MEMBER
Read Fastlane!
Read Unscripted!
Most people just assume the taxes we pay go toward infrastructure and public services. However, that is incorrect. If you dig into the Congressional Budget Office website, you will find that app. 20% goes towards military, 21% goes towards social security benefits, 21% goes toward Medicare/Medicaid, and 5% goes towards unemployment benefits. The remaining 33% pays for EVERYTHING else.
Of course this is the federal budget only. Each state has its own budget office and you can look it up online for your state to see how the numbers work out, but the point is, very little of your tax dollars go towards infrastructure and public services.
The vast majority goes toward military and entitlement programs. Of course the socialist argument is that we need these entitlement programs to take care of people. The reality is that Americans save about 6% of income so they really can't afford to take care of themselves.
Contrast that with the Chinese savings rate is about 50% of income. China has no entitlement programs like social security, welfare, unemployment or medicare/medicaid. But its citizens can afford to take care of themeselves.
I am not advocating that China has a better system, only that in America, we have become accustomed to thinking the govt can and should take care of us. But the reality is, it isn't necessary to survive or even thrive. And your taxes don't necessarily provide a better quality of life, they only 'spread the wealth' to those that chose not to take care of themselves.
Of course this is the federal budget only. Each state has its own budget office and you can look it up online for your state to see how the numbers work out, but the point is, very little of your tax dollars go towards infrastructure and public services.
The vast majority goes toward military and entitlement programs. Of course the socialist argument is that we need these entitlement programs to take care of people. The reality is that Americans save about 6% of income so they really can't afford to take care of themselves.
Contrast that with the Chinese savings rate is about 50% of income. China has no entitlement programs like social security, welfare, unemployment or medicare/medicaid. But its citizens can afford to take care of themeselves.
I am not advocating that China has a better system, only that in America, we have become accustomed to thinking the govt can and should take care of us. But the reality is, it isn't necessary to survive or even thrive. And your taxes don't necessarily provide a better quality of life, they only 'spread the wealth' to those that chose not to take care of themselves.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
