How much of one's income goes to federal tax?

Answer Federal income taxes will vary, based on the amount of income claimed. In 2009, the taxation rate was 15% for individuals earning less than $33,950 and 25% on an income ranging from $33,950 and $82... Read More »

Top Q&A For: How much of one's income goes to federal tax

How much of our federal income tax goes to pay national debt?

About ten cents of every tax dollar is spent on servicing the national debt. As of May 2010, the government has spent $224 billion on interest payments for the national debt.References:Federal Budg... Read More »

How much of my paycheck goes to federal taxes?

The percentage of your paycheck that goes to federal taxes may depend on your marital status, disability, expenses, number of children, occupation and other relevant factors. This can range from 10... Read More »

How much federal tax goes toward education?

The federal government spent more than $35 billion on education in the 2009 fiscal year. For a government that takes in more than $2 trillion in revenues, however, this represents a tiny slice of t... Read More »

How much federal income tax is owed on $2900?

If a tax payer has taxable income of $2,900 it does not matter what his tax filing status is for determining the tax liability. According to the Internal Revenue Service tax tables, in 2009 the tax... Read More »