GRACE COMMISSION REPORT

[Dale Eastman]

Congressional Research  Service
The Library of Congress

GRACE COMMISSION IP O281 G
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With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by  interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.
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https://digital.library.unt.edu/ark:/67531/metacrs9044/m1/1/high_res_d/IP0281G.pdf#page=14