Tax Day by the Numbers
For each dollar of U.S. federal income tax paid in 2007, amount spent on the military: 43 cents
On health care: 20 cents
On responses to poverty: 12 cents
On education and jobs: 3 cents
On diplomacy and foreign aid: 1 cent
A major corporation's chance of being audited in 1990: 3 in 4
Its chance in 2006: 1 in 4
What the IRS expects to lose by using private debt collectors to pursue outstanding taxes: $37 million
Commission pocketed by those debt collectors: up to 24 percent
Amount the three debt collection contractors and their employees have given to congressional candidates and PACs since 1995: $550,000
Number of complaints about the collection companies logged by the IRS ombudsman: more than 1,500
Amount presidential candidate John McCain would raise the current 15 percent tax rate on capital gains: 0
Amount Hillary Clinton would raise that rate: 5 percentage points, to 20 percent
Amount Barack Obama would raise it: 10 points, to 25 percent
Amount of time the average American spends preparing his or her taxes: 26.5 hours
Amount of money he or she spends on tax preparation: $200
Proportion of taxpayers who plan to use their refund to pay bills: 35 percent
Proportion of taxpayers who did so last year: 27 percent
(Click on item number for source: 1-5; 6-7; 8-11; 12-14; 15-16; 17-18.)
Tags
Sue Sturgis
Sue is the former editorial director of Facing South and the Institute for Southern Studies.