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Cost of Government Day: July 6

in Economic Liberty, Liberator Online Archives, Taxes by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 10 of the Liberator Online. Subscribe here!)

While Americans celebrated Independence Day on July 4, we are far from being able to celebrate fiscal independence.

Indeed, according to Americans for Tax Reform (ATR), this year Cost of Government Day fell on… July 6. Ouch!

Cost of Government Day — calculated each year by ATR — marks the point during the year when the average American has finally earned enough income to pay for his or her share of the spending and regulatory burdens imposed by government at the federal, state and local levels.

2014 is the sixth consecutive year that Cost of Government Day arrived in July; prior to President Obama taking office, Cost of Government Day had never fallen after June 27.

All told, the full costs of government amount to a staggering 51 percent of GDP. Workers toil 121 days to pay for government spending alone, and 65 days to pay for regulatory costs. Americans labor in tax slavery 186 days — more than half the year — to pay off the full burden of government.

Some states like Connecticut and New Jersey must work even longer than that to pay for the costs of high spending and taxes in their states. The latest state Cost of Government Day once again occurs in Connecticut, falling on July 26 for 2014. The earliest Cost of Government Day goes to Louisiana, occurring on June 12 this year.

The days worked to pay for federal spending decreased since last year. However, federal regulatory costs have increased since 2013. While Americans worked 65 days to pay for the costs imposed by regulation in 2014, if the regulatory regime grows larger it will almost certainly mean much later Cost of Government Days in the future.

Cost of Government Day: You Worked More Than Half This Year for Gov’t

in Liberator Online Archives by James W. Harris Comments are off

(From the Intellectual Ammunition in Volume 18, No. 15 of the Liberator Online. Subscribe here!)

Did you notice? Sometime in mid-July, you stopped working for the government — and were finally allowed to start keeping the money you earn.

Each year the Cost of Government Center, in partnership with Americans for Tax Reform Foundation, calculates Cost of Government Day.

Cost of Government Day is the day on which the average American has earned enough income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state and local levels.

This year Cost of Government Day arrived — finally! — on Saturday, July 13.

In other words, this year American workers are forced to labor 194 days out of the year just to meet all the costs imposed upon them by government.

And that’s just the average. Taxpayers in many states will have to work well past July 13 to pay for costs imposed by their bloated state governments. Notoriously high-tax, big-spending states such as California, Illinois and New York have some of the latest-arriving Cost of Government Days in the nation.

Worst of all is Connecticut — where residents must labor for the state until… August 31.

And if you feel that the burden has gotten worse during the past few years, you’re right.  This year marks the fifth consecutive year that Cost of Government Day has fallen in July. Prior to the Obama Administration, the latest-arriving Cost of Government Day recorded was June 27.