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The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
In order to balance our budget and reduce the amount of debt the government takes on each year, we must match the level of government revenues with the level of spending.
Controlling our structural budget deficits will require major changes in budget policy.
Why Reform Our Corporate Tax Code?
Most Medicaid dollars are spent on disabled and elderly beneficiaries, whose incomes and financial resources are low enough to qualify for the program.
Who Pays For Medicare?
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
The United States healthcare system is the most expensive in the world, and our healthcare costs are projected to keep rising. Despite these high costs, our health outcomes are generally no better than those of our peers, and in some cases are worse.