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In an article at OneNewsNow.com, “I’m going to pay how much in taxes?”, Chris Woodward has recommended the Government Cost Calculator at MyGovCost.org:
What is Washington’s spending costing you? A new website aims to answer that question.
The website MyGovCost.org is an online calculator where taxpayers can learn what they will pay in taxes for federal programs. In addition, users can learn how much money they could have if they were able to invest that money instead, and how their payments compare to what Washington is spending regularly.
Dr. Emily Skarbek is a research fellow with The Independent Institute, which oversees the website. “When you come to MyGovCost.org, it just asks that you put in your age, income, and approximate education level,” she shares. Most users, she adds, will find the results “quite shocking.”
According to Skarbek, the information is adjusted regularly to allow taxpayers an exact figure. “We update the data in relationship to what is put out by the [Congressional Budget Office] and the [Office of Management and Budget] so that it would reflect any changes in spending initiatives,” the researcher explains.
And while current taxpayers can use the website to get an idea of their financial tax burden, they can also see what their children might pay under the present conditions.