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Where are your taxes going?

e21 | May 13, 2010

There are a lot of conversations taking place right now over what American’s current income tax burdens are or what they should be. Putting that debate aside, in the midst of these conversations, we ran across a nifty chart posted in USA Today that allows a taxpayer to see exactly where his or her taxes are going. Click here to see how much of your income is going to entitlement programs, national defense, and other crowd favorites. For example, a taxpayer earning $65,000 a year (single, claiming the standard deduction) currently pays more than $15,000 in taxes of which $4,972 goes toward Medicare and social security and $3,500 goes toward national defense.

USA Today Chart

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