It's Your Money

Quick Takes
  • Government will collect in the neighborhood of $1.1 million from the typical household over its working life.
  • Government gives you little voice over government spending.
  • Reassert your claim to your wallet.

govGovernment will take 28% of your income in 2009, on average -- more than most people pay for housing. At today's tax rates, that is $1,136,0601 for a typical family over a 40-year working career. The average family would have to set aside $656,000 today earning 6% after inflation to pay those taxes. Could you use some or all of that $656,000 yourself to achieve more of your goals and dreams?

Even that whopping sum is not enough to satisfy government's appetite for money. So it spends more, borrows the difference and puts your name on the debt. See Chapter 13 for more.

expensive Politicians routinely denounce government debt. As a group though, they do not have the will to cut back borrowing. Politicians seem to be torn between playing Santa Claus and Scrooge. They want to give voters presents from Santa's bottomless sack, and hope voters forget they are taxpayers, too. Politicians claim to support a balanced budget. Their actions recall Saint Augustine's words, “Give me chastity Lord, just not yet.”

Does your money go where you want? Does government spend too much on defense and too little on social services? Or is your preferred combination different? You decide. Tell your government where you want your money spent.

Government is your largest vendor. What if private companies could force you to pay 25% - 35% of your wallet for a mix of services you did not choose? Every day you would question question the value you receive.

"Each time people make a purchase they have the opportunity to make a different choice. Government is different."

Rethinking the money you spend with government? With you can do something about it.

Maybe government provides an extraordinary value and maybe you are happy paying every nickel. But maybe not.

People weigh the financial impact when they make a deal on a house, buy a new car, even when they look over a restaurant menu. Each time people make a purchase, they have the opportunity to make a different choice. They think like consumers.

But not nearly so often when it comes to government. When was the last time you were asked to vote on the amount of tax the feds extract from you? Or how much of your money government should spend on agricultural subsidies, defense, or health? Never. Unlike the nearly absolute power we have over the day-to-day transactions we conduct with our peers, individual citizens have only very muffled control over government taxing, spending, and borrowing.

money As a mere individual, it is easy to think you are tiny krill in a political sea. Yet you can reclaim lost power by speaking your mind and holding elected officials responsible.

Reassert your claim to your wallet. Tell your elected officials how you wish your money to be used. makes it easy.

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1 Total estimated federal, state and local taxes for 2009 of $3.874 trillion divided an estimated 136.4 million families equal average taxes per family of $28,391. Multiplying average annual family taxes of $28,391 times a 40 year career generates $1,135,649. Should tax burdens increase, this number will be low.