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Posts Tagged ‘receipt’

Progress Report on a Taxpayer Receipt

April 10th, 2012

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“Would you like a receipt for that?” That simple question gives customers trust and confidence in their purchases. With a similar gesture, the federal government could gain some sorely needed trust and confidence from citizens. A taxpayer receipt would be a way to acknowledge citizens’ contributions to the Treasury and show them where their tax dollars go.

That’s why Third Way first proposed the idea in 2008 and released an online taxpayer receipt calculator last year. It helped fuel a flurry of activity over the idea. We have updated our receipt for the 2011 tax year. It lets users enter their income taxes and FICA taxes paid so they can see their contributions to nearly 400 items from the federal budget ranging from the FBI to the salaries of member of Congress. It demonstrates how a taxpayer receipt can show citizens what they are getting for their money.

The taxpayer receipt isn’t law yet, but there’s been lots of activity. Here is an update on the progress to date:

The White House has released its own version of an online taxpayer receipt for the second year in a row. First mentioned by President Obama in his 2011 State of the Union Address, this receipt lets users see where their income taxes in terms of major spending categories like national defense and health care and many subcategories. It accounts separately for the Social Security and Medicare trust funds.

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