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As the fine print says, "U.S. federal government spending by function".

from
https://www.visualcapitalist.com/where-does-one-u-s-tax-dollar-go/

Where Does One U.S. Tax Dollar Go?
Published 5 seconds ago on April 6, 2024
By Marcus Lu
See this visualization first on the Voronoi app.

A chart breaking down what all programs U.S. federal taxes fund.

Where Does One U.S. Tax Dollar Go?
This was originally posted on our Voronoi app. Download the app for free
on Apple or Android and discover incredible data-driven charts from a
variety of trusted sources.

Come tax season, a common refrain is: “what do my taxes even pay for?”

To answer that question, we visualized U.S. federal government spending
by function, referencing expenditure to a single federal tax dollar.

Data is for the fiscal year ending September 30, 2023 from the U.S.
Bureau of the Fiscal Service. Total spending amounts are converted to
cents on the dollar and percentages, to show where one tax dollar goes.

Major Areas of U.S. Government Spending
Social security is the government’s single largest expense and where 22%
of tax dollars go. Signed into law in 1935, the program was to insure
against the “hazards and vicissitudes of life.” In practice, it meant
the creation of a work-related contributory system in which workers
secure their own retirement by taxes paid while employed.

However, an aging population threatens its sustainability because as
more people retire and draw benefits, there are fewer active workers contributing to the system.

Government Spending Amount Paid Out
of $1 Tax Dollar
🏛️ Social Security $0.22
🏥 Health $0.14
🚑 Medicare $0.14
⚔️ National Defense $0.13
💰 Income Security $0.13
📈 Net Interest $0.11
🎖️ Veterans' Benefits
& Services $0.05
🚗 Transportation $0.02
🛒 Commerce $0.02
🔍 Other $0.04
Health and Medicare together amount to 28% of government spending. The
largest health expense is grants to states for Medicaid, which helps
cover medical costs for people with lower incomes. Medicare, on the
other hand, is federal health insurance for people 65 and older, as well
as younger people with disabilities.

National Defense accounts for 13% of government spending. This includes
paying military personnel, operating and maintenance costs like fuel,
buying aircraft and ships, and research and development. While fourth in
terms of percentage spending, this still contributes to the largest
military budget in the world—by quite a margin.

Meanwhile, Income Security (also at 13%) covers programs like
unemployment compensation, nutrition assistance, and housing assistance.
It also has additional retirement and disability benefits not covered by
social security.

Just behind—and still well-ahead of all other government spending—is Interest Payments on government debt, coming in at about 11% of tax
supported expenditure.

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RELATED TOPICS:MoneyHealthTaxesGovernment DebtTaxSocial SecurityDefense BudgetGovernment SpendingTax DollarsMedicaidMedicare
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