ARRA News Service: Where Did Your Tax Dollar Go?

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Blogger/Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: editor@arranewsservice.com (Pub. Since July, 2006) Home Page Follow @arra

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Saturday, December 28, 2013

Where Did Your Tax Dollar Go?

Michael Sargent, Heritage Foundation: Wonder what happens to your hard-earned cash after you hand it over the IRS each year? Almost half goes toward paying for the ballooning entitlement programs—Social Security, Medicare, and Medicaid—a proportion that will only increase as the number of retirees expands in the near future. Even worse, your tax money only funded 70 cents of every federal dollar spent in 2012, meaning the remaining 30 cents was borrowed and tacked on to the massive national debt.

Tags: Tax Dollar, entitlements, National Defense, income security, Interest transportation, education, chart, Heritage Foundation, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!

Posted by Bill Smith at 5:38 PM - Post Link

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