WHERE THE MONEY GOES
The way our tax dollars are divvied up has changed significantly in the past 30 years. The government now devotes far less to defense and proportionately more to Social Security and health.
Defense 37[cents] Social Security 17[cents] Income Security 11[cents] Net Interest 7[cents] Health 6[cents] Edu., Vets, Transp. 14[cents] Other 8[cents]
--Fiscal year 2001
Social Security 23[cents] Health 21[cents] Defense 16[cents] Income Security 14[cents] Net Interest 11[cents] Edu., Vets, Transp. 10[cents] Other 5[cents]
Sources: Tax Foundation, Office of Management and Budget
SPENDING THE REFUND
About 73% of taxpayers got a refund last year, and most of them found uses for it--to pay bills or make major purchases--within a month.
--How quickly do you spend or invest your tax refund?
7 DAYS OF LESS 38% 2-4 WEEKS 31% 5-8 WEEKS 11% 60+ DAYS 17% --How do you use your refund?
Pay bills 40% Save 36% Reward yourself* 24% Invest 12% Travel 10%
*Major purchase/buy something special. From interviews with 728 adults conducted by the Gallup Organization for H&R Block, 1999
STATE BUDGET SURPLUSES They are burgeoning, thanks to the steady growth of the economy. For fiscal 2000, nearly two-thirds of the states foresee a surplus of 5% or more Fscal 2000 (appropnated)
Sources: National Governors Association. National Association ol State Budget 0hicers
Less than 1% TX LA AR TN AL
1% to 4.9% HI CA WA ID UT SD WI MO KY WV GA NC VT NH RI NJ
5% to 10% OR AZ NM ND KS OK IL OH MS FL SC VA PA MD NY CT MA ME
More than 10% AK NV MT WY CO NE MN IA MI IN DE
Sources: National Governors Association, National Association of State Budget Officers