TAXATION INVESTMENT.PART 7

Personal income tax is the biggest revenue generator at the federal level with half of revenue generated and social security,payroll and employment taxes takes a third and others excise taxes,death and gift taxes.Sales and excise taxes are quite significant at state level followed by income and highway user taxes,gasoline tax and licensing fees.Obviously,we should look at the spending formula where 20% of public spending goes to defense,veterans benefits and items like energy,technology,space.Then 60%goes to social security,welfare,health and education item and 10% to service debt and goes to support farm,transportation and housing program as well running government like courts,congress and all branches of government.At the state level,most revenue goes to support schools.Methink with this formula,america is a wasteful,spendthrift and profligate economy and to still have over 42m.poor people in that country is evident of political prejudice and deliberate effort to make some people poor and pauperised in the