2012-11-20

Website Of The Day

Just Facts Daily.

Interesting Q & A session. Excerpt:

Question 3: Do you think the federal government spends more money on social programs, such as Medicare, education, and food stamps … or does the federal government spend more money on national defense, such as the Army, Navy, and missile defense?
Correct Answer: Social programs. In 2010, 61% of federal spending was on social programs, versus 22% for national defense. Fifty years ago, the opposite was true, and 53% of federal spending was for national defense, versus 23% on social programs. Correct answer given by 37% of all voters, 18% of Obama voters, and 57% of Romney voters.

Question 10: Some policymakers are proposing that individuals be allowed to save and invest some of their Social Security taxes in personal accounts instead of paying these taxes to the Social Security program. In your view, do you think such proposals generally improve or harm the finances of the Social Security program?
Correct Answer: Improve. Proposals to give Social Security an element of personal ownership are generally structured to strengthen the program’s finances. Although some tax revenues that would have gone to the program go to people’s personal retirement accounts instead, these tax revenues are more than offset by the savings of not paying these individuals full benefits. Correct answer given by 25% of all voters, 5% of Obama voters, and 47% of Romney voters.

Question 11: On average, who pays a greater portion of their income in federal taxes: The middle-class, the upper 1% of income earners, or do you think they both pay about the same portion of their income in federal taxes?
Correct Answer: The upper 1%. Per the Congressional Budget Office’s latest estimate of federal tax burdens, households in the middle 20% of the U.S. income distribution paid an effective tax rate of 11.1%, as compared to 28.9% for the top 1% of income earners. Correct answer given by 17% of all voters, 4% of Obama voters, and 31% of Romney voters.

Question 13: In 2003, Congress and President Bush passed a tax cut law that accelerated and expanded upon tax cuts they had passed a few years earlier. In the four years that followed this 2003 tax cut law, do you think federal revenues generally increased, declined, or stayed about the same?
Correct Answer: Increased. Federal revenues were 16.2% of the nation’s economy in 2003, 16.1% in 2004, 17.3% in 2005, 18.2% in 2006, and 18.5% in 2007. Federal data going back to 1950 shows that higher tax rates do not necessarily correspond with more tax revenues. Other factors, such as the health of the economy, also have a major impact on tax revenues. Correct answer given by 28% of all voters, 12% of Obama voters, and 46% of Romney voters.

Question 18: In 2010, Congress passed and President Obama signed the Affordable Care Act, also known as “Obamacare.” This law uses price controls to save money in the Medicare program. Do you think these price controls will affect Medicare patients’ access to care?
Correct Answer: Yes. As explained by Medicare’s actuaries, the Affordable Care Act’s price controls will cut Medicare prices for many medical services over the next three generations to “less than half of their level under the prior law.” The program’s actuaries have been clear that this will likely cause “withdrawal of providers from the Medicare market” and “severe problems with beneficiary access to care.” Correct answer given by 56% of all voters, 23% of Obama voters, and 86% of Romney voters.

BLUE BOLD MINE.

Romney voters were correct more than Obama voters 13-5.

When it comes to money and finance: Bet conservative. Or libertarian.






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