-By Warner Todd Huston
Every year Americans for Ta Reform announces the day when the average American has finally finished paying his share of the cost of government and every year it seems to occur later in the year. This year the date has been pinpointed as today, August 19. (Download study HERE)
Imagine that, folks. We now work for three quarters of the year to pay for government! We don’t start working for ourselves until the middle of August! This is intolerable.
And with Barack “emperor” Obama in office we are sure to see this date advance even later by next year.
Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day. This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and local levels.
In 2010, Cost of Government Day falls on August 19. Working people must toil 231 days out of the year just to meet all costs imposed by government – 8 days later than last year and a full 32 days longer than 2008.
In other words, in 2010 the cost of government consumes 63.41 percent of national income.