4 ms·
> Around 50% of your taxes go to social security and medicare I Googled about this. It looks reasonably accurate: > Mandatory spending and entitlements (
by throwaway2037 2y ago
> Around 50% of your taxes go to social security and medicare
I Googled about this. It looks reasonably accurate:
> Mandatory spending and entitlements (a) Social Security ($845B or 24% of spending), (b) Healthcare such as Medicare and Medicaid ($831B or 24%)
Ref: https://en.wikipedia.org/wiki/Expenditures_in_the_United_States_federal_budget https://en.wikipedia.org/wiki/Expenditures_in_the_United_Sta...
I wonder if this spending split is common in all other highly developed nations (think: OECD level). My guess: Yes.