A new – and very good – idea

Via Ezra Klein at the Washington Post, some new taxation ideas are percolating up and not from the usual suspects. An organization called Third Way has posted a deep deficit reduction plan on their website (never heard of them before, but liking what I’m seeing).  Among their ideas is a “Taxpayer Receipt“. From their proposal:

“Corn syrup, milk chocolate, sugar, cocoa butter, coconut, almond, soy lecithin … any consumer can read these ingredients and their nutritional value on every package of a 75-cent Almond Joy. What is provided to a taxpayer with a $5,400 tax bill? Nothing. For many Americans, the amount they pay in taxes is larger than any purchase they make during the year, but studies show they know almost nothing about where that money goes to.

This contributes to ridiculous beliefs, like the view that 20% of government spending goes to foreign aid, for example. An electorate unschooled in basic budget facts is a major obstacle to controlling the nation’s deficit, not to mention addressing a host of economic and social problems. We suggest that everyone who files a tax return receive a “taxpayer receipt.” This receipt would tell them to the penny what their taxes paid for based on the amount they paid in federal income taxes and FICA.”

It would look something like this:

8 responses to “A new – and very good – idea

  1. Brilliant! What do I do when I don’t like the numbers…like the amount spent in Iraq and Afganistan or the paultry spending for education.

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  2. Ms. Holland,

    It’s a shame you could not get these same figures for the past 60 years and projections for the next 60 years.

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  3. Ms. Holland,

    My apologies. Visitors arrived as I was posting my reply and caused me to cut short my train of thought. I am not the King in my humble castle.

    That entitlements are at the top of the list of Federal expenditures is instructive. I would bet that when the originators of these entitlements first sold them to an rather stupid nation, the % of Federal revenues they would consume was promised to be and remain reasonably small.

    The projections of how much wealth these programs will consume in the future might scare even someone as Progressive as yourself. Maybe not.

    I will continue to make the case that entitlements will destroy our Country.

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  4. Some more food for thought on Americans and taxation.

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  5. The Arbourist,

    Class warfare, class envy. Soviet economics. Works really well doesn’t it? It worked well under old Joe Stalin and it is really working under young Barak Obama.

    Like

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