How Are Your Income Taxes Being Spent

According to a source at only 1 in 5 American’s know how thier income taxes are being spent.  I also had a client inquire about how his income taxes were being spent. The article in the Denver Business Journal by Heather Draper ( for the week of March 28th – April 3rd (Page A-10) received over the weekend came at a great time.

Based on an income of $42,603 and a tax of $3,433, as a single filer the list below shows where the money is being spent:

$1,202 – Healthcare

$968 – Job and Family Services (including medicaid and medicare)

$1,263 – National Defense

$773 – Other as Described below:

$410 – Net interest, interest on Treasury Securities

$228 – Veteran’s Benefits

$182 – Education and Job Training

$101 – Natural Resources, energy, and the environment

$101 – Immigration and border security

$81 – International Affairs

$51 – Science, space and technology, NASA

$35 – Agriculture including farm subsidies

$25 – Community redevelopment

$20 – Response to natural disasters

Interesting to find out how your income taxes are being spent.  National Defense comes in at number 1 with the most of our tax dollars being spent, with healthcare closely following. For more information see