Tax Calculator Tests Consequences of Expiring Tax Cuts

I ran across this calculator yesterday and found it to be quite interesting. It allows you to see what will happen to your 2011 federal income taxes depending on what the government decides to do with the 2001 and 2003 "Bush Tax Cuts."

Once you fill in your information, the calculator lets you see your tax consequences under one of three scenarios:

• Income Tax if All Bush Tax Cuts Expire
• Income Tax under Obama's Tax Proposals
• Income Tax if Bush Tax Cuts are Extended

The website - www.mytaxburden.org - is being provided by The Tax Foundation, a nonpartisan, nonprofit organization that monitors fiscal policy.

Give it a try. The results are quite eye opening.

With all the debt the morons in Washington have racked up, my guess is it won't take long to find out where this one is headed.