Where did my tax dollars go?

[Dappleganger]

http://www.wheredidmytaxdollarsgo.com/tax_payers

[RUMMYisFROSTED]

1. Who profits by "net interest?"

:think:

[ParkieDem]

3. Anyone who owns Treasury Bonds.

That net interest is interest we pay to the Chinese, Japanese, US citizens, pension funds, and other investors who have purchased US Treasuries.

[RUMMYisFROSTED]

6. And who are the biggest T-bond holders...?

[ParkieDem]

7. Short Answer:

The Fed, foreign governments, some state & local governments, pension funds and mutual funds:

http://en.wikipedia.org/wiki/File:Estimated_ownership_of_treasury_securities_by_year.gif

[RUMMYisFROSTED]

8. By "foreign governments" you mean (central) bankers, right?

[sinkingfeeling]

2. Each individual taxpayer can see to the penny where their money went here:

http://www.whitehouse.gov/taxreceipt

[ParkieDem]

4. I'm a bit confused here ...

It says I was taxed $2,538 in Medicare, but that $7,032 of my total tax bill was spent on Medicare. This would lead one to assume that Medicare is raiding the general fund for support, but I don't think that's true.

And, while I knew that Defense and Social Security would take up a chunk of my tax dollars, I was surprised that "income security" was one of the biggest items.

[sinkingfeeling]

5. Medicare covered by general funds are the payments to doctors and the drug program. The 'Medicare'

income deduction has only ever been for hospital care.