Saturday, April 18, 2009

Facts and Figures

Courtesy of the Center on Budget and Policy Priorities:

Federal level:

Fewer than 3 in 1,000 estates in 2009 are expected to be subject to the estate tax.

About 11 percent of the federal budget in 2008, or $313 billion, supported programs that provide aid (other than health insurance or Social Security benefits) to individuals and families facing hardship.

Social Security provides benefits to 48 million Americans, with the average beneficiary receiving $10,500 per year. 10 million beneficiaries are adults below the age of 65, and 4 million are children. For one-third of the elderly, it provides nearly all of their income. Social Security is an extremely efficient program, with administrative costs equaling only 0.6 percent of retirement and survivors benefits.

State level:

Cash assistance to low-income individuals through Temporary Assistance to Needy Families (TANF) and some smaller programs, such as general assistance, makes up only a tiny share of state spending — about 1 percent or $13 billion.

Courtesy of the Wisconsin Legislative Fiscal Bureau:

The property tax is the largest source of combined state and local tax revenue in Wisconsin. It represents 28.1 percent of all municipal revenue.

In 2006 our property taxes per $1,000 of personal income ranked 9th, our property taxes per capita ranked 12th.

In 2007 residential property taxpayers accounted for 71 percent of total property tax collections, commercial property accounted for 21 percent. In 1970 residential accounted for 51 percent, while commercial accounted for 20 percent.

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