In 1 Graphic, Here’s What Uncle Sam Is Doing With Your Tax Money
That’s a good question. The average American household sends more than $20,000 to Washington in tax revenue each year, and most see little in return.
In 2017, the federal government nabbed more than $3.3 trillion in taxes—but that still isn’t enough to satiate Washington’s immense appetite for spending. The 2017 deficit was a whopping $665 billion.
In reality, health entitlements—Medicare, Medicaid, Obamacare—and Social Security are the largest programs. If Congress continues its current policies, these entitlements and interest on the debt are set to consume every dollar of taxes paid by 2027. That’s less than 10 years away.