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Wednesday, April 18, 2012

The White House Shows You Where Your Tax Dollars Went

I have to admit that I am guilty of occasionally wondering where my tax dollars go. Now thanks to the White House's Federal Tax Payer Receipt I can find out.  I can enter the data from my actual tax returns, enter data that I estimate, or choose to use one of the "common scenarios" to see a breakdown of what my tax dollars will be spent on. The screenshot you see below is based on my selection of the scenario for a single person earning $25,000.

Applications for Education
The Federal Tax Payer Receipt could be useful for showing students how tax revenue is used by the federal government. This could be of particular interest to high school students who may have had their first jobs and first experiences with income taxes this year.

For more resources that you can use to teach students about income taxes please see Financial Literacy, Taxes, and Economics Lessons.

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