We all pay taxes every paycheck (for those who are employed) and we file a return every year. We pay for our local services through sales taxes and property taxes. However, most people don’t know where their federal tax dollars actually go. To listen to political pundits, you might think that your tax dollars are mostly spent on supporting lazy welfare recipients or a variety of hangers-on who take advantage of the societal largesse. However, there couldn’t be farther from the truth. Most of the taxes go to just a few places: the national debt and defense. In terms of yearly spend, you spend more time working to pay for the F-35 than you do for someone receiving food stamps. Surprised at that fact? It gets even better from there.
Here’s a helpful video from MIT economist and former Secretary of Labor Robert Reich to explain where your taxes really go.