1 year, 6 months ago
via irs-answers.com
What does the IRS do with my tax dollars?
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M$1 Answer
I am not a CPA.
The IRS uses your tax dollars to pay off the federal government’s debt and to fund federal programs. Those programs include (but are not limited to):
Social Security for the elderly and disabled.
Welfare for people who are unemployed.
Medicare and Medicaid to take care of the health needs of people who are on Social Security or are otherwise unemployed.
Salaries for government workers including the president, members of congress and their staff members.
Federal government funded public projects and programs (road construction and repair and others).
In addition to funding programs that benefit other people, your tax dollars are also set aside for needs you might have later on in life. For example, you can’t ever collect Social Security checks unless you or your spouse have paid into the Social Security system.
I found this article which explains where your tax dollars go and includes a link to more information: http://www.msnbc.msn.com/id/18098378/ns/business-answer_desk/
From msnbc.msn.com
-quote
Last year, the three biggest federal budget items were Social Security, health care and defense spending — each of which ate up about $200 of your $1,000 weekly paycheck.
-endquote
The IRS uses your tax dollars to pay off the federal government’s debt and to fund federal programs. Those programs include (but are not limited to):
Social Security for the elderly and disabled.
Welfare for people who are unemployed.
Medicare and Medicaid to take care of the health needs of people who are on Social Security or are otherwise unemployed.
Salaries for government workers including the president, members of congress and their staff members.
Federal government funded public projects and programs (road construction and repair and others).
In addition to funding programs that benefit other people, your tax dollars are also set aside for needs you might have later on in life. For example, you can’t ever collect Social Security checks unless you or your spouse have paid into the Social Security system.
I found this article which explains where your tax dollars go and includes a link to more information: http://www.msnbc.msn.com/id/18098378/ns/business-answer_desk/
From msnbc.msn.com
-quote
Last year, the three biggest federal budget items were Social Security, health care and defense spending — each of which ate up about $200 of your $1,000 weekly paycheck.
-endquote
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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