Thought – Taxpayers have a right to know exactly where their tax dollars are spent and exactly what activities they are borrowing money for. Given current computing power, the days of lumping everything into the “General Fund” are over!
Idea – Annually, taxpayers should each receive a statement itemizing by category how their tax dollars have been spent. Since the country runs an annual deficit each year and must borrow, the statement should also detail: 1) how much of the annual borrowing each taxpayer is responsible for, 2) their cumulative balance of all national debt outstanding, and 3) an estimate of the future, unfunded, liabilities they will be responsible for. Naturally, this will change as the taxpayer base and amounts change but it will create a point of reference for each taxpayer.
Action – Prepare a letter for the President, each member of Congress and the Senate and each of the Budget Offices requesting this reporting.
Write a media piece highlighting this.