-By Warner Todd Huston
Well, we’ve finally paid for the cost of government for the year. That’s right, it took over half the year for working folks to pay off what it costs to keep government rolling for a year. Sadly, Illinois does not far as well as most other states.
Each year Americans for Tax Reform figures in the costs of federal, state, and local taxes, fees and costs to float government and calculates that against the income earned by each individual American worker to arrive at the day that government costs are satisfied for the year. This year the day is August 12th.
Working people must toil 224 days out of the year just to meet all costs imposed by government, a full 27 days longer than 2008.
In other words, in 2011 the cost of government consumes 61.42 percent of national income.
Interestingly, last year’s date was August 14, so 2011’s cost of government day is two days earlier than 2010’s.
The August 12 date, however, is figures derived for the national bottom line. Among the states times will vary. In Illinois, for instance, it is worse as the cost of government isn’t paid off until August 17th this year. This means that taxpayers in Illinois must work 229 days out of 2011 just to pay for the cost of government.
Worse for Illinois, it is at the bottom of the heap for costs of government. Citizens of 41 other states are lucky enough to have their costs of government satisfied long before the citizens of beleaguered Illinois.
Further, Illinoisans work two days more than the average American to pay for their cost of government. Illinoisans are saddled with cumulative tax increase of about $13.81 billion from FY2002-FY2011. And that amounts to a tax increase of $1,066.90 for every man, woman and child in Illinois over the last ten years.
So, once again, Illinois comes in at the back of the pack as it does in nearly every other category. Thank you Governor Quinn, Illinois Democrats and President Obama.