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How does collected tax get accounted for? Do we seperate it?
Posted on 4/29/17 at 4:26 pm
Posted on 4/29/17 at 4:26 pm
All this tax talk has me wondering about the handling of tax money.
Does the government, state or federal, have separate accounts for each type of tax?
Examples:
Gasoline tax is supposed to fund certain things, such as roads.
Social security is obviously for a purpose.
Does that money get "deposited" after being collect , into its own account? Or is it all just sloshed into a general fund for our government to just steal from at will?
Does the government, state or federal, have separate accounts for each type of tax?
Examples:
Gasoline tax is supposed to fund certain things, such as roads.
Social security is obviously for a purpose.
Does that money get "deposited" after being collect , into its own account? Or is it all just sloshed into a general fund for our government to just steal from at will?
4
Posted on 4/29/17 at 4:30 pm to the LSUSaint
quote:
Social security is obviously for a purpose.
Yes. Yes, indeed. Your social security taxes are put into a mix of safe mutual funds and blue chip stocks. Your name is on the portfolio. That way when you turn 65 you should be getting about $10K a month for the rest of your life.
Posted on 4/29/17 at 4:31 pm to the LSUSaint
No one knows for sure. They are spending it faster than drunk Marines on liberty.
Posted on 4/29/17 at 11:03 pm to the LSUSaint
Some taxes are dedicated funds while others go into a general fund. Congress sets the budget for spending from the general fund.
Posted on 4/29/17 at 11:17 pm to the LSUSaint
A lot of taxes are separate by statue.
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