Do you ever wonder where your Federal Tax dollars go? The receipt below is for a hypothetical tax bill of $10,000.00 and shows how that money is spent by the federal government.
Over two-thirds of total tax receipts go to the first three line items: health programs, military spending, and interest on the debt.
That in itself is frightening enough, but the interest on the debt is projected to grow from approximately 14% today to over 40% by 2040 if nothing changes. Not only is that unsustainable, it should be criminal.
One of the three subject areas for the Convention of States application is "imposing fiscal restraints on the federal government." I can't think of a better reason to call for a Convention of States than tax reform and holding Congress accountable for their fiscally irresponsible ways.
