CRFB's Taxpayer Receipt in USA Today
Did you know that nearly 75 dollars out of every 100 dollars in taxes paid goes to just four major areas? Monday’s USA Today front page featured data on the taxpayer receipt calculated by the Committee for a Responsible Federal Budget. The data compares federal spending in 2014 on major programs such as Social Security and defense to total federal government outlays. This generates an illustrative taxpayer’s receipt that shows what share of tax dollars goes to different programs.
Social Security, federal spending on health care, and spending on defense and veterans payments each make up just under a quarter of federal spending. Add interest on the debt and these four areas take up nearly three-quarters of federal spending. Importantly, given the $485 billion federal deficit in 2014 an illustrative taxpayer would have to pay an additional $16 for every $100 paid in taxes in order to pay for all federal spending in 2014.
If you enjoyed the taxpayer receipt, take a look at some of our other charts and graphics.