Millions of Americans file their federal income tax returns by April 15 each year with no idea what the government actually does with all that money.
This is surprising, considering that individuals are our nation’s primary bill payers. Income taxes paid by individuals account for 46 percent of all federal tax revenues, which are projected to be $3.34 trillion in 2015. Other tax revenue comes from payroll taxes paid jointly by workers and employers, accounting for 32 percent; and corporate income taxes paid by businesses, which make up 13.5 percent.
Given how much taxpayers collectively contribute to our nation’s revenue stream, it goes without saying that we should be able to influence how the government spends that money. Unfortunately, that’s not always the case. The federal government doesn’t make it easy to find out where your tax money goes.
That’s why the National Priorities Project (NPP) has done the work for you.
Using a customized tax receipt calculator, you can find out exactly how the federal government spent each penny of your 2013 taxes. Look up your tax receipt right now – is your money going where you think it should?
[Read the rest of this post on the Campaign for America’s Future’s blog, from where this is cross-posted with permission.]