Whether you owed taxes to the federal government, or received something back, don’t you wonder just where all that money goes once its taken out of your paycheck?
The government has released a website called Your 2010 Federal Taxpayer Receipt. Plug in numbers for Social Security tax, Medicare Tax and Income Tax, select an income level, then see the breakdown of where every dollar is spent.
Even without entering any data into the select fields, you can still see the breakdown by percentage for each category. 26/3% goes towards the National Defense while 1.2% go to Space, Science and Technology programs.
This website was created in part because of President Obama’s State of the Union Speech. According to the website:
In his State of the Union Address, President Obama promised that this year, for the first time ever, American taxpayers would be able to go online and see exactly how their federal tax dollars are spent. Just enter a few pieces of information about your taxes, and the taxpayer receipt will give you a breakdown of how your tax dollars are spent on priorities like education, veterans benefits, or health care