April 14, 2014, Oakland, CATo help Americans see how their federal taxes are being spent, the Independent Institute today is launching the free mobile MyGovCost App based on the Government Cost Calculator website at MyGovCost.org. Available in the Apple App Store for the iPhone and iPad, MyGovCost personalizes how any American taxpayers taxes are spent by the U.S. government in 2014 and over his/her lifetime.
MyGovCost provides custom-made calculations that allow each individual taxpayer to see exactly how his or her tax liability relates to the $3.5 trillion in annual federal spending and the $17.6 trillion national debt, said Lawrence McQuillan, Director of the Independent Institutes Center on Entrepreneurial Innovation. Thanks to MyGovCost, what used to be clouded in mystery is now intelligible, quantified, individualized, and easily accessible just by tapping on your iPhone or iPad.
By entering a persons age, income, and level of education, MyGovCosts Government Cost Calculator:
- Estimates any Americans share of federal spending, federal taxes, and national debt, utilizing the latest data available from key government agencies
- Shows how each Americans tax dollars are spent on major program categories, including Defense, Medicaid, Medicare, Social Security, Interest on the Debt, Welfare, Environment, Education, totaling more than a dozen program spending areas
- Projects how much any American could have earned had he or she been able to keep his or her income and invest it under a typical, long-term investment scenario
Additionally, the MyGovCost App offers news, blogs, videos, and articles from renowned scholars and other experts on runaway government power, spending, debt, and related topics.
MyGovCost is a product of the Independent Institute, a nonprofit, non-partisan, scholarly research and educational organization that sponsors in-depth studies of critical social and economic issues. The mission of the Independent Institute is to boldly advance peaceful, prosperous and free societies grounded in a commitment to human worth and dignity.
For media requests, contact Kim Cloidt at 202.725.7722 or [email protected].
# # #