One of every six federal dollars goes to programs for poor
Released March 29, 2013Ten Washington programs that mostly benefit poor Americans cost $588 billion in 2012, or one-sixth of all federal spending.
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Ten Washington programs that mostly benefit poor Americans cost $588 billion in 2012, or one-sixth of all federal spending.
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Following the 9/11 terrorist attacks, Pentagon spending on defense contractors skyrocketed, totaling $3.3 trillion over the past decade.
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Federal watchdog agency blames billions in Pentagon waste on overlapping programs.
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Since the recession, revenue-starved states have grown more reliant on federal help, but those funds may now be in danger.
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Automatic, mandatory spending cuts could hammer the Pentagon and some domestic programs, but others will be safe and sound.
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Federal revenue from capital gains taxes fell sharply during the recession, down $100 billion from 2007 to 2009. Rates are set to rise in 2013.
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The alternative minimum tax – created by Congress to make sure wealthy Americans pay some federal tax – is increasingly hitting middle-income taxpayers.
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