Where Does 1 US Tax Dollar Go?
The U.S. federal government collects more than $5 trillion in Taxes every year. In the first quarter of 2024 alone, the government collected $1.86 trillion in Taxes this year. The Taxes are then used for various purposes to support and lift the economy of the country. From health care to infrastructure and national security, the White House diversifies your tax ed US dollar to support various sectors that benefit the American people. Also Read: Cryptocurrency: Man Misses Earning $12 Million in Meme Coin Read here to know how many sectors in the U.S. will be affected if other countries ditch the dollar for trade. Moreover, for every 1 US dollar tax you pay, it gets divided into various parts to uplift the country. In this article, we will highlight where your 1 US tax dollar goes. Taxes: Where Does Your 1 US Dollar Go? Source: Freepik.com For every 1 US dollar that gets tax ed, around 10 sectors benefit from the tax ation. While some sectors benefit directly, others ar...