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Started By
Message
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 4:41 pm to 4Ghost
Look up Michael Franzese. He made hundreds of millions of dollars for the Five Families of La Costra Nostra running a gasoline tax scam. The profits even dwarfed their labor and construction rackets tenfold.
Posted on 4/29/17 at 10:58 pm to SCLibertarian
Why isn't tax put in a specific account that can only be used for that particular tax's intended purpose?
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 11:07 pm to The First Cut
Thats basically what I thought, but why not just pass a law making taxes for specific purposes, put in separate accounts, therefore making it easy to find the mishandling of dedicated money.
Posted on 4/29/17 at 11:09 pm to the LSUSaint
That's what a budget is...
Posted on 4/29/17 at 11:17 pm to the LSUSaint
A lot of taxes are separate by statue.
Posted on 4/29/17 at 11:38 pm to The First Cut
No, a budget is forecast of future spending, giving you an amount to be spent.....and yes, I understand a budget on a project is used...point being, when I interstates are crumbling, yet we have taxes specifically for that, where is the exact monies for those projects? And , to your point, if a contractor comes in over budget after giving a bid, he is excluded from govmnt contracts for 5 yrs..
Posted on 4/30/17 at 5:45 am to Zach
quote:I'm afraid that some people wont pick up on the sarcasm here.
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 4/30/17 at 8:24 am to the LSUSaint
Budgets appropriate spending for a year for all of the agencies and departments, not project revenues or spending.
ETA:
To use your definition, Congress is threatening do defund planned parenthood by "predicting" there won't be any spending by that agency.
ETA:
To use your definition, Congress is threatening do defund planned parenthood by "predicting" there won't be any spending by that agency.This post was edited on 4/30/17 at 8:33 am
Posted on 4/30/17 at 10:12 am to SlapahoeTribe
quote:
I'm afraid that some people wont pick up on the sarcasm here.
I think you're right.
Posted on 4/30/17 at 10:14 am to Zach
quote:
think you're right.
Forget the board, there are hundreds of millions who have believed that since it was created.
Posted on 4/30/17 at 10:17 am to the LSUSaint
quote:
there are hundreds of millions who have believed that since it was created.
I KNOW you're right because I've met a LOT of those people.
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