Third Way, a left-to-center think tank in Washington, D.C., has long touted the benefits of a taxpayer receipt.
Now with the change in Congressional makeup, general public concerns about government spending and the growing federal deficit, the idea of an itemized receipt showing where our tax dollars go is getting more support.
It definitely could help correct some spending misconceptions.
Although tax expenditures cost the government more than Medicare and Medicaid combined or Social Security, most folks still think that we can program cut our way to fiscal solvency.
The truth is that it will take you and I (and businesses) giving up some of the tax expenditures — the mortgage interest tax break, tax-favored company health care benefits, various child-related tax credits, and many, many more individual (and corporate) tax breaks — that we all are so fond of before we can begin to reform our tax system and make a dent in the deficit.
But seeing, and accepting, just how our tax dollars are spent would go a long way in sparking a real discussion on what we tax-break-taking taxpayers would be willing to give up for deficit reduction's sake.
Related posts:
- A detailed taxpayer receipt
- Visualize how your taxes are spent
- How Uncle Sam spends our tax dollars
- Graphic looks at where your taxes go
- How your tax dollars are spent
- Where do our tax dollars go?
- Tracking your tax dollars
- A look at who's paying how much taxes
- Death and Taxes 2010
- An artful look at Death and Taxes
- Deficit commission tax overhaul, take 2
- National Taxpayer Advocate is a fan of major tax system overhaul
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