Call us today!

Phone: (512) 498-PLAN (7526)
info@planningworks.biz

How Are Your Tax Dollars Allocated?

Have you ever wondered where your tax dollars have gone?

According to the Tax Foundation, a Washington, D.C. based think-tank, Americans worked until April 24, 2015 just to earn enough money to pay their federal taxes.

Wondering what you get in return for your hard work? Roughly 66% of the $3.5 trillion in federal spending for 2014 was used for Social Security, Medicare, defense, and related programs. Here’s how it breaks down:

24% - Social Security
24% - Medicare, Medicaid, CHIP, marketplace subsidies
18% - Defense and international security assistance
11% - Safety net programs
8% - Benefits for federal retirees and veterans
7% - Interest on debt
3% - Transportation infrastructure
2% - Education
2% - Science and medical research
2% - All other
1% - Non-security (international)

Source: Center on Budget and Policy Priorities, 2015

And, yes, for those of you paying close attention, those numbers add up to 102%. The Center on Budget and Policy Priorities notes that category percentages are estimates based on the most recent historical data released by the Office of Management and Budget for the 2014 federal fiscal year (October 1, 2013, to September 30, 2014).

Life and Business Strategies...Start the Journey

CONTACT US: 2700 Via Fortuna Suite 100 • Austin, TX 78746 • (512) 498-7526
Fax (512) 684-8519 • info@planningworks.biz

Investment Advisory services offered through, Waterloo Capital, L.P. a SEC Registered Investment Advisor. Securities offered through Calton & Associates, Inc. Member FINRA/SIPC OSJ 2701 N. Rocky Point Dr., Suite 1000, Tampa, FL 33607 (813) 605-0918 Waterloo Capital, L.P., PlanningWorks, Inc. and Calton & Associates, Inc. are separate entities.

A Registered Representative may only transact business in states where they are registered, or exempt from registration. Currently we have Representatives registered in CA, CO, FL, GA, IL, MN, MO, NE, NM, OH, PA, SC, and TX. If your resident state is not listed, please contact us at info@planningworks.biz. Under normal circumstances, securities licensing procedures for additional states may take 24-72 hours. We will not effect or attempt to effect securities transactions, or provide personalized investment advice to, or communicate directly with residents in a state in which a Representative is not registered.

finra_BrokerCheck_logo.png

Website Design For Financial Services Professionals | Copyright 2019 AdvisorWebsites.com. All rights reserved