Answer to Question #292240 in Finance for Kelsey Jand

Question

Where Do Our Federal Taxes Go?

Most Americans do not know where our federal tax dollars go. The textbook chapter has a great link to an article on Federal Taxes

Context Link: https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go

Please read the article and identify one federal tax item you feel is the most important item that should be paid by your tax dollars. Please provide the reason why you selected this item as the most important.

Instructions:

1. For this discussion board read the article - on Federal Taxes
2. Research where your federal tax dollars go to.
3. Identify one item you feel is the most important item for your dollars to be spent on.
4. Please provide the reason why you selected this item as the most important.

Answer 1

I feel the most important my dollars be spent on is the Medicare, Medicaid, CHIP, and marketplace subsidies. Medicare and Medicaid are two government-funded programs in the United States that offer specified persons medical and other health-related services. Medicare is a social insurance program, whereas Medicaid is a social welfare or social protection program.

Medicare offered health insurance to Americans aged 65 and up, as well as individuals with disabilities. Medicaid, for its part, gave Federal matching payments to states so that they could give extra health insurance to many low-income elderly and disabled persons. These programs provide health insurance to Americans, allowing them to stay well, go to work, care for their families, and pay their bills. The Medicaid program contributes to the success of communities, hospitals, schools, and the economy.