David Kendall and Jim Kessler of Third Way have published a report that suggests the average taxpayer has no idea how their tax payments to the government are spent.
They maintain that consumers are provided with ingredient and nutritional information on every food product, but absolutely nothing on where their tax money goes.
They have provided an example of a 2008 median income tax filer with an adjusted income of $34,140 (median per the IRS) who paid $2,790 in federal income taxes. The filer contributed $2,160 to Social Security and Medicare through FICA, for a total payment of $5,400.
Go to the site provided at the end of this article and take time to read their paper, A Taxpayer Receipt. It is enlightening and maybe a little incendiary. Regardless, it is worth the time you will spend to read it, and the thoughts it will inspire.
Tax Wisdom: People who don’t pay taxes aren’t worried about the tax burden.
– Karl Rove