National Priorities Project releases Tax Day Report

by Jo Comerford, Exec. Dir.
NPP has just released our Tax Day report.

We breakdown taxes to the penny, bust a few myths about who pays taxes and give you a chance to make your own tax receipt.

How much money did you pay in 2011 -- to the penny -- for TANF, nuclear weapons, high speed rail or Food Stamps? The government tells us, so we can tell you.

We'd be delighted to customize this tax day report for your constituents. Please feel free to be in touch.

TAX DAY 2012

March 21, 2012

On April 17, 2012, your 2011 federal income tax return is due to the IRS. Where did the federal government spend your income taxes during fiscal year 2011?

Federal income tax revenues totaled around $1.13 trillion in fiscal 2011, and this chart shows exactly where the federal government spent each one of those dollars:

When you pay federal income taxes, the U.S. Treasury designates that money as “federal funds.” That means Congress and the president can spend that money on any government activity—and the chart above shows how they chose to spend federal funds in 2011.

This chart does not include your payroll taxes, also called Social Security and Medicare taxes, which are designated as “trust funds” and can only be used by the Treasury to fund those two programs. But as you can see from the chart above, some federal funds are also used to pay for Social Security and Medicare.

For More…

Jo Comerford
Executive Director
National Priorities Project
243 King Street, Suite 109
Northampton, MA 01060
413.584.9556 w
413.559.1649 c