Tuesday, October 28, 2008

I came up with an idea of putting together an experiment in taxation. This experiment will take place from January 1, 2009 to December 31, 2009. All of us who are participating plan to retain all receipts for every expenditure from the largest to the most insignificant purchase.

We don't have the final list yet but I believe 100% of the participants will be women. The large majority will be married with children and military spouses. I can't give you exact data yet, but that will come later on.

The purpose of this is to determine the amount paid in taxes (including surchages and fees which are essentially taxes) by the average American. Now granted military folks don't pay taxes on certain things and we're accounting for that.

DH and I also have to account for some things for instance we rent our place, but the guy who owns it pays property taxes on the house and five acres. Through public records I know what property taxes are paid so I can divide that up and include it into the cost of the rent. Therefore, considering that the taxes are included, I will be listing them when calculating taxes paid.

The goal is to figure out what the average middle-class American (such as DH and me) pay in all taxes. People sometimes forget that federal income tax isn't the only tax. We are taxed for social security, medicare, utility bills and other things. Most have a state income tax, we live in Florida and do not.

At the end of 2009 I should be able to present you with a number from all of us who are participating in the project.

1 comment:

  1. Anonymous11/01/2008

    Awesome project, Jess! I can't wait to see the outcome. Robert and I have tallied a large portion of our taxes before. Don't forget taxes on your light and phone bill.~ST