To mark "Tax Day," April 18:
The White House website has just launched a "Federal Taxpayer Receipt" calculator that shows you where those federal tax dollars go.
As an example, I used amounts from the 2009 tax return submitted by President Obama that reported payment of $1,792,414 in federal taxes from a gross income of $5,505,409.
{Give it a try, entering the amounts from your 2010 return!}
The results:
As you see, more than 50% of these dollars are allocated to national defense and health care. Will this ever change?
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