Where Do Your Tax Dollars Go? A Long Story in 5 Quick Graphs
Tax Day 2011 is Monday, April 18. But where does all our money go? What are all those IRS checksfor? Here are five ways to look at our tax receipt and the way our tax dollars are used to define our national values. In the gallery below, I’ve also included a handful of images that dive deeply into the question, How Much Money Do We Fork Over? and How Is the Money Spent?
The top 20 percent of the country took in about 53 percent of all income in 2009. They paid 67 percent of total federal taxes. This is consistent with the features of a progressive tax system, in which the richest pay a larger portion of their income in taxes.
1. The Tax Receipt
The receipt speaks for itself. Social Security, Medicare, Medicaid, interest and Middle East wars accounts for the vast majority of our budget. The upshot: Cutting foreign aid and making senators take a pay cut snips insignifi