Sunday, October 3, 2010

Random chart

Source: A Taxpayer Receipt Interesting idea from an outfit call third way. "The Problem: Taxpayers have no idea where their money goes. The public is misinformed about where the federal government spends its money. A 2005 Washington Post/Kaiser Foundation poll found that by a margin of two to one, Americans believe the federal government spent more on foreign aid than on either Social Security or Medicare.1 This is among many surveys that show that voters know little about where their money is spent....

The Solution: A Taxpayer Receipt: We suggest providing each taxpayer with a receipt that shows them exactly how their money is spent to the penny. Taxpayers could either receive a receipt online (if they file electronically) or through the mail that breaks down their tax bill and provides them the exact contribution they made towards twenty to thirty budget items of interest. Below is an example of what a receipt might look like for a typical taxpayer with a 2009 U.S. median income of $34,140, who paid $5,400 in federal income tax and FICA. It is very easy to generate and extremely informative to taxpayers..."

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