In his weekly, nationally syndicated column this morning, “GOP’s first order: Extend the Tax Cuts,” Cal Thomas encouraged voters to visit MyGovCost for a “handy” way of getting a clearer perspective on the implications that an expiration of the tax cuts will have on an individualized level:
To further personalize the cost of allowing the tax cuts to expire, visit a handy government cost calculator called www.mygovcost.org. Type in your level of education, age and current income and the calculator will reveal what future taxes are likely to cost (these are estimates as everyone’s circumstances differ).
You will also see how much your money could earn if you invested in the private sector instead of having it go to the federal government. The enormous interest figure should rebut arguments by Democrats who claim reforming Social Security by allowing money to be invested in the stock market would bankrupt the elderly.