Question about taxes?

Question

I know that the taxes coming out of my check supposedly goes to social security and medicare, however, when you buy something in a store or when you pay taxes for gas, where does that money go? Just curious.

Answer 1

You are allowed to get (free of charge) both the budgets and the financial statements of any federal, state or local government. The budgets are usually about a thousand pages, and the financial statements are a quarter as big.

Somewhere in that bulk of tree-killing output is an explanation of the amounts of taxes and fees that governments are allowed to raise and another explanation of where they go.

Some taxes go into the "general fund" and they don't have any specific service attached. Other taxes go into a "special fund" and are restricted to specific duties that the government has to provide. For example, fuel taxes are usually restricted to road repair and road building. Your property tax statements will tell you exactly what percentages go to various projects.

Answer 2

Sales tax goes to the state and sometimes to a more local place like the county, not to the feds. It provides the money for state services and for operation of state government.

Answer 3

Excise tax on gas goes to the federal and state government general funds.

Answer 4

Sales tax goes to the state, local, or county government.

When you buy gas, there is a federal excise tax, in addition to whatever state, local, or county government taxes there may or may not be.

Answer 5

Sales taxes go to the state (and local if applicable) governments.

Part of the gasoline tax is Federal and part is State. Generally, this money is used for road, bridge and other infastructure projects.