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Thursday, April 12, 2007

Do You Know Where Your Tax Dollars are Going???

http://finance.yahoo.com/taxes/article/102817/How-Your-Tax-Dollars-Are-Spent


20% for Social Security benefits to existing retirees
15% for Medical health benefits
7% for Medicaid
3% for veterans benefits and
1.3% for supplemental security income used to assist the aged, disabled and blind
(All types of aid to the needy add up to 16% of the budget)
7% for interest on national debt
9% for the military

8.5% for everything else:
  • Transportation -- federal highways and bridges, support for Amtrak, funds to help states with other roads, bridges, railroads, airports and so on.

  • Science and medical research. Food and drug safety. Guarding the environment. The Strategic Petroleum Reserve. Export promotion. Import protections. Space exploration. Air traffic controllers. The FBI, the Drug Enforcement Agency and the rest of the Justice Department. Federal education funding.

  • And an alphabet soup of federal agencies tasked with helping to keep Americans safe, healthy and, sad to say, honest -- from the CPSC (Consumer Product Safety Commission) to the NLRB (National Labor Relations Board) to the SEC (Securities and Exchange Commission).

I know this doesn't add up to 100% but this is the information presented in the article. When you read the article play close attention to what is part of "discretionary" and "non-discretionary" spending.

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