

YourTaxReceipt.org - personalized tax receipt - volare
http://www.yourtaxreceipt.org

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JohnAllen
The denominator should be tax receipts, not federal spending. Foreign
countries and our Federal Reserve actually made large contributions this past
year (both do every year we have a budget deficit and every year the money
supply increases- this is most every year for the past few decades). This is
not to suggest that Americans won't eventually pay for all of this year's
expenditures, we eventually will. In the case of the Fed, consider the new
money printing and subsequent spending by the Fed to be a tax on everyone that
holds dollars at the time of the printing/spending.

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viggity
I don't think this is right, I think they've done a straight percentage for
each item, but your FICA contributions should cap at about 15K for SS and
Medicare because it is approx 15% of the first ~$100K (for 2009) and you don't
pay anything beyond that. Medicaid while part of FICA doesn't have a cap on
earnings (its around 2.5%). If you tell this page that you've paid 100K in
taxes, it says that you've paid $30K total to FICA.

Now, part of the way Obama was proposing to pay for health care reform was to
kill the cap on the earnings that are subject FICA taxes - without any
additional benefit. This would fundamentally change SS from an insurance
scheme to a wealth redistribution scheme.

(for those of you outside the US. FICA is an umbrella term for Social Security
and Medicare)

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volare
Thanks for the reality check. I threw this up on a whim after skimming this
thread: <http://news.ycombinator.com/item?id=1745133>. It was fun, regardless,
because I suspected I was competing with others to get it done first. I spent
about 20 minutes getting it functional and another 15 making it prettier.

