Find Out Where Your Tax Dollars Go

By on Apr 18th, 2012 | Big Picture

Tax day is over and done with, but before you stow away that W-2 into your hiding place of choice for paperwork you’re supposed to keep but never want to look at again (mine’s a folder shoved in the back of the closet), plug your tax digits into the White House Federal Taxpayer Receipt to see how and where your tax dollars will be spent.

Here’s a sample return receipt estimate for a married couple earning $50k/year (with 1 child).

As you can see, $2,100 of this fictitious couple’s total taxes paid will get socked away into the Social Security program to keep elderly retirees afloat, $725 will head to Medicare costs, and $247.75 will pad the national defense budget, which gets the biggest percentage of income tax funds. In contrast, just a measly $3.98 will help with natural disaster response.

If you could choose how to divvy up your federal tax dollars, where would you spend them?

Writer, budget cruncher & stifled shopaholic.

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