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I expect my family will earn this year.
Number of people in my family
Age of primary earner
I expect my family will pay total taxes of this year.

 

My Family's... Dollars As a % of
Economic Income
Economic Income 0 0
Cash Income 0 0
Federal, State, and Local Taxes 0 0
 
Share of Gov Surplus (Deficit) 0 0
 
Share of Hard Gov Debt 0 0
Share of Gov Semi-Hard and Soft Debt 0 0
Share of Gov Total Debt 0 0
 
If you are concerned about disclosing your income, enter an income number that is not yours. For example: The average American belongs to a household that earns roughly $75,000 annually. Consider experimenting with this number.

Include cash income here; wages, salaries, tips, small business and farm earnings, interest, dividends, cash government benefits like Social Security, unemployment benefits, etc... Include pension benefits, alimony and child support. Also, include taxes that are deducted from your paycheck.

Exclude employer provided benefits, employer contributions to your retirement, and government benefits you receive in non-cash form, like Medicare, food stamps, or subsidized housing.
No need to spend too much time on it, unless this is the sort of thing you like to do. Your best quick guess will do just fine. This number will not be used in estimating your tax burden. It is used to measure the discrepancy between your impression of what you pay versus a MyGovSpending.com estimate of what you pay. Since many taxes are hidden, the discrepancy may be large.
Cash Income is the amount you entered as income above.
Tax estimates are based on national averages for families of this income level, family size, and age of primary earner. Individual families' tax may vary - as the tax code discriminates between families in different circumstances.
Deficits must be borrowed. They add to the national debt. Surpluses can be used to pay down the national debt or returned to taxpayers.
Hard Gov Debt is money that government has borrowed from the public and is legally required to repay to avoid default.
Gov Semi-Hard Debt contains retirement benefits promised to government employees and environmental clean up expenses for which government has committed to pay but not set aside funds in advance, as government requires of private firms.

Gov Soft Debt is future shortfalls in Social Security and Medicare programs as forecast by the Social Security and Medicare trustees.

Taxpayers should be aware that this number does not include loans and other financial obligations which the government has pledged that taxpayers will "make good" if the debtors do not pay; such as FDIC deposits, Pension Benefit Guarantee Corporation (PBGC) obligations, private mortgages held by Fannie Mae & Freddie Mac, student loans, and now a host of other loans and securities related to the financial crisis that broke in 2008/2009.
As used here, a family is an individual or a group of individuals that would normally file a federal income tax return together.
Family Economic Income includes more than Family Cash Income.

Whether taxes are charged directly to families or not, eventually all taxes in the economy are paid by families. Those that are are not charged directy to families are buried in the costs of goods and services that families buy or reduce the returns of investments that families own. Indirect taxes that families eventually pay include corporate income taxes, the employer's half of Social Security and Medicare taxes, other payroll taxes paid by employers, property taxes paid by businesses and more.

Since a proper analysis allocates all taxes to families, it must also allocate all income to families as well, even items families may not think of as income that belongs to them. This additional income includes the value of noncash subsidies such Medicare services, free school lunches, subsidized housing provided to families. Economic income also includes employer provided insurance, the 50% of Social Security and Medicare tax that employers pay on behalf of their employees, income equal to the rental value of homes they own, etc...

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