Balance Sheet

REVENUE

Income Tax $975.32

Payroll Tax $592.07
Corporation Tax $239.52
Capital Gains Tax $142.42
Excise Taxes $70.44
Transfer Taxes $30.75
Other Taxes $134.00

TOTAL REVENUE $2,184.51

SUMMARY

Federal Government Revenue $2,184.51

Federal Government Expenditure $1,963.96

Budget Balance $220.55

Budget Balance : GDP 2.19%

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 Balance Sheet
EXPENDITURE

Defence $366.34
International Affairs $31.50
Energy, Science and Technology $30.70
Agriculture $25.70
Environment $33.20
Transport $71.70
Social Security $374.44
Aid to Low Income Families $147.89
Health $569.90
Education $61.82
Labor $86.66
Administration of Justice $37.90
General Government Expenditure $27.10
Interest on Debt $99.10

TOTAL EXPENDITURE $1,963.96

DEBT

Federal Debt $5,663.00

Federal Debt Next Year (projected) $5,442.45
Federal Debt:GDP 56.17%

Interest Rate 1.75%

Page 2
 Taxation
Income Tax

Total Number of workers 133,371,237

Average Income $36,764.00

Standard Deduction & Exemption $8,540.00

Total Taxable Income (in billions) $3,764.27

Bracket I 10.0% $37.64

Bracket II 15.0% $141.16
Bracket III 28.0% $210.80
Bracket IV 31.0% $233.38
Bracket V 36.0% $203.27
Bracket VI 39.6% $149.07

Total Income Tax Revenue $975.32

Corporation Tax

Total Taxable Income (in billions) $1,294.68

Bracket I 15.0% $38.84

Bracket II 25.0% $64.73
Bracket III 35.0% $135.94

Total Corporation Tax Revenue $239.52

Capital Gains Tax

Bracket I 10.0% $38.84

Bracket II 20.0% $103.57

Total Capital Gains Tax Revenue $142.42

Payroll Taxes

Fraction of Exempt Income (%) 25.0%

Taxable Income $3,677.45

FICA (Social Security Tax) 6.2% $456.00

Medicare 1.45% $106.65
FUTA (Unemployment) 0.80% $29.42

Total Payroll Taxes $592.07

Transfer Tax (Estate, Gift and GST Tax)

Exemption Amount $1,000,000.00

Taxable Transfers (in billions) $61.50
Rate of Taxation 50.0%

Total Income $30.75

Gasoline Excise Tax

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 Taxation

Fuel Consumption (gallons) 270,968,750,000

Tax per gallon of gasoline $0.18

Total Revenue $48.77

Ethanol Tax

Total Alcohol Consumption (gallons) 518,500,000

Tax per gallon of ethanol $13.50

Total Revenue $7.00

Tobacco Tax

Packs of cigarette consumed 14,024,000,000

Tax per pack of 20 cigarettes $0.60

Total Revenue $8.41

Firearm License Fee

Firearms sold 12,500,000

License Fee $500.00

Total Revenue $6.25

Other Taxes

Alternative Minimum Tax $102.00

Customs Duty $32.00

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 Defence and Foreign
Department of Defence

Personnel Number Salary (LY) Salary (TY) Cost

Army 506,556 $40,000.00 $40,000.00 $20.26
Marine Corps 179,381 $40,000.00 $40,000.00 $7.18
Navy 340,568 $40,000.00 $40,000.00 $13.62
Air Force 340,921 $40,000.00 $40,000.00 $13.64
Coast Guard 41,181 $40,000.00 $40,000.00 $1.65
Reserves 858,500 $20,000.00 $20,000.00 $17.17

Pay Award (%) 0.0%

Total Personnel Cost $56.34

Other Costs Current Change Cost

Equipment & Maintainence $79.00 $79.00
Research & Development $65.00 $65.00
Procurement $70.00 $70.00
Housing $14.50 $14.50
Atomic Energy $17.00 $17.00
Veterans Benefits and Services $52.00 $52.00
Operations in Afghanistan $12.50

Total Other Costs $310.00

Department of Defence Budget $366.34

State Department
Current Change Cost
Foreign Embassies and Consulates $7.80 $7.80
International Military Aid $10.20 $10.20
International Development Aid $13.50 $13.50

State Department Budget $31.50

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 Infrastructure and Economy
Energy, Science and Technology
Current Change Cost
NASA $13.60 $13.60
National Science Foundation $6.20 $6.20
R & D Tax Credits $8.40 $8.40
Energy R & D $2.50 $2.50

Enegy, Science and Technology $30.70

Transport
Current Change Cost
Federal Aviation Administration $16.50 $16.50
Federal Aid for Highways $32.20 $32.20
Mass Transit Infrastructure Grants $6.60 $6.60
Amtrack $0.50 $0.50
Marine Transportation System $8.90 $8.90
Other Costs $7.00

Transport Budget $71.70

Environment
Current Change Cost
National Parks $2.70 $2.70
Land and Water Conservation Fund $14.50 $14.50
Pollution Control and Abatement $9.00 $9.00
Other Costs $7.00

Environment Budget $33.20

Agriculture
Current Change Cost
Agricultural Subsidies $21.70 $21.70
Research and Development $4.00 $4.00

Agriculture Budget $25.70

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 Social Services
Aid to Low Income Families
Claimants Benefit (LY) Benefit (TY)
Food Stamps 18,400,000 $936.00 $936.00
Supplemental Security Income (Disabled) 6,400,000 $4,500.00 $4,500.00
Family Support Payments (TANF) 4,963,771 $3,000.00 $3,000.00
Child Nutrition Programme 28,000,000 $150.00 $150.00
Earned Income Tax Credit 19,000,000 $1,729.00 $1,729.00
Child Tax Credit 4,963,771 $2,000.00 $2,000.00

Current Change
Housing Assistance $40.00

Total
Labor
Claimants Benefit (LY) Benefit (TY)
Unemployment Benefit (per week) 8,211,817 $212.00 $212.00
Federal Employee Retirement Benefit 3,450,000 $12,000.00 $12,000.00

Total
Social Security
Claimants Benefit (LY) Benefit (TY)
Old Age and Survivors Insurance 35,350,874 $9,000.00 $9,000.00
Disability Insurance 6,254,000 $9,000.00 $9,000.00

Total
Health
Current Change
Medicaid Grants $179.00
Medicare Hospital Insurance $184.50
Supplemental Medical Insurance $120.20
Prescription Drug Benefit $51.20
Health Research $35.00

Total
Education
Current Change
Elementary & Secondary Education Grants $36.00
Postsecondary, Vocational & General Edu. $10.20

Claimants Benefit (LY) Benefit (TY)

Pell Grants 4,056,000 $3,850.00 $3,850.00

Total
Administration of Justice
Current Change
Federal Bureau of Investigation (FBI) $8.80
Other DoJ programmes $10.10
Litigation and Criminal justice assistance $9.50
Immigration and Naturalization Service $3.50
Federal prisons $6.00

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 Social Services

Total
General Government Expenditure
Current Change
Internal Revenue Service $9.60
Department of Commerce $2.50
Other General Government $15.00

Total

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 Social Services
Social Security Trust Fund
Cost (billions)
$17.22 Assets $1,650.00
$28.80
$14.89 Revenue from Assets $28.88
$4.20 Payroll Tax Revenue $456.00
$32.85 Spending on Benefits $374.44
$9.93
Net Assets Next Year $1,760.43

$40.00

$147.89

Cost (billions)
$45.26
$41.40

$86.66

Cost (billions)
$318.16
$56.29

$374.44

Cost
$179.00
$184.50
$120.20
$51.20
$35.00

$569.90

Cost
$36.00
$10.20

Cost (billions)
$15.62

$61.82

Cost
$8.80
$10.10
$9.50
$3.50
$6.00

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 Social Services

$37.90

Cost
$9.60
$2.50
$15.00

$27.10

Page 10
 Statistics
Population
0-14 years 58,918,123
15-64 years 186,293,493
65 and above 35,350,874

Total Population 280,562,489

Population Growth Rate 0.89%

Net Migration Rate 0.35%

Economy
GDP in current prices (in billions) $10,082.00
GDP per capita $35,934.95

Real GDP Growth 0.3%

Inflation 2.8%
Unemployment Rate 5.80%

Poverty Rate 12.7%

Employment and Incomes

Total Labour Force 141,583,054
Unemployment 8,211,817

Average Salary $36,764.00

Net Corporate Income (in billions) $2,589.37

Foreign Trade (in billions)

Exports $974.72
Imports $1,398.45

Balance of Payments -$423.73

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