foreign aid

Foreign Aid – Reducing Spending

Foreign Aid – Reducing Spending

Since the budget process is heating up, I want to re-emphasize one way to reduce unnecessary spending.  As you know, the date until which you have to work to make a profit after all taxes are paid is now April 24th, one day earlier than last year. At that point, the money you earn is mostly yours, not the government’s. Americans pay $3.3 trillion in federal taxes each year and $1.6 trillion in state and local taxes, or just shy of $5 trillion dollars each year.

 

We hear of abuses in how that money is spent every year; some of the projects sound downright silly. That abuse spreads across many agencies, but let me look at one area that gets very little scrutiny, because most Americans, and to be sure most reporters, know nothing about it—that is foreign aid.

Foreign Aid

Foreign Aid

Where does your money go? Tax reform is in the news. Tax Freedom Day has come and gone. You know the date until which you have to work to make a profit after all taxes are paid. This year that day was April 24th, one day earlier than last year. Now the money you earn is mostly yours, not the government’s. Americans pay $3.3 trillion in federal taxes each year and $1.6 trillion in state and local taxes, or just shy of $5 trillion dollars each year.