Here’s How Your Taxes Will Be Spent

By on

Do you have your tax return handy? You can see exactly where your money is going by consulting the “tax receipt” Web page on the White House website, or at the bottom of this article.

And if you don’t have your return at your fingertips, you can get quick estimates for incomes up to $80,000.

The biggest chunk of taxes goes to national defense, according to the Web page: 24.64 percent.

Health care isn’t far behind at 22.45 percent, followed by “job and family security” at 17.26 percent, a category that includes things like unemployment benefits, food stamps, help for needy families, military and railroad retirement, and other programs. Eight percent of taxes are spent on interest on government debt. The categories reflect the sections in the federal budget.

The New York Times has a graphic breakdown of President Obama’s 2013 budget proposal and how it compares with last year’s.

Here’s the federal taxpayer receipt tool, so you can see how your money is being spent.

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,172 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.