Episode 199 Federal taxes and spending explained (transcript)

Machine transcript - may contain errors

Hello and welcome back to Tom Mullen Talks Freedom. Today is Tuesday, February 25th. I had to look there for a minute, and for a change I'll do the thing I'm supposed to do at the beginning every one of these, which is tell you if you're, if you're watching the video, subscribe to my YouTube channel. And if you're listening on one of your podcast apps, subscribe to this podcast.

You can subscribe on Apple iTunes, Stitcher, Google, all of them. It's it's on all of them. So, just about all of them. There's none that I know of that. It's not and I want to talk today a little bit about federal spending the federal budget. Because most people, in my opinion, have no idea.

Exactly what the government spends and what they, they spends money on. They have I think people have all kinds of ideas, not so much what do they spend money on, but what the proportions are. So, [00:01:00] what I mean, and I'll give you an example, as much as I love Rand Paul, I love his Festivus airing of grievances about federal spending.

But when you hear something like. The federal government spent 600 million to study gender awareness and warthogs. And you go, Oh my God, I can't believe it. No wonder we're going broke. I mean, just to put that, just made that up. I just made it up, but it's very likely that they did spend hundreds of millions of dollars studying gender awareness and warthogs.

It wouldn't surprise me if they did. It shouldn't surprise you. But If, if it was $600 million, just to put things in perspective federal spending was almost $7 trillion last year. So, it's gonna, it's projected to be 7 trillion this year, so maybe we'll use this year's projected numbers.

It was 6.8 last year. Nice. Even 7 trillion this [00:02:00] year. And. As we know a billion is a thousand million and a trillion is a thousand billion, so a trillion is therefore a million million. Okay. So if the government spends 600 million on something, even though that's a ridiculous amount of money, it's 600 out of a million.

Okay. So obviously it's a. Tiny, tiny little rounding error fraction of the budget. That doesn't mean it shouldn't be. I'm just saying when you hear some of these numbers roll by you, just keep that 7 trillion, that 7 million million number in your head so that you don't get distracted with where the, you know, really where most of the money goes.

So I thought I would do an episode and just run through the numbers. And from a very high [00:03:00] level, and I don't know if this is going to put you to sleep or if it's going to be eye opening, you tell me in comments and on on the YouTube or on the show notes page for the podcast, whether you like this, I'd like to do one on social security.