Tuesday, April 19, 2011

Interesting Info on Income Taxes

A couple interesting posts on Tax Day:

The following links to a tax receipt setup by Thirdway.org, you can input your federal taxes paid and find out where your tax dollars went.
For Example, someone who paid $10,000 in Federal Taxes paid $2,044.94 on Social Security, $2,017.15 on Defense, $469.15 on Unemployment, etc. (HT: The Big Picture)
http://www.thirdway.org/taxreceipt

Also, this link from the NY Times discusses how little Americans know about where they stand on the income and tax distribution. The area to highlight is that 67% of people making $250,000 or more believe their taxes are too high, 26% believe the taxes are just right, and 6% believe they are too low. 30% of these same people, however, believe that "Upper-Income" people pay too low of taxes. This means that a large percentage of people making over $250,000 don't believe that they qualify to be in the Upper-Income group.

http://economix.blogs.nytimes.com/

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