Tired of paying for out-of-control federal, state and local spending?
There’s good news: July 15 is the day when the average worker will have earned enough over 197 days to hypothetically cover their share of government spending. It also arrived three days earlier than in 2011 and four earlier than 2010.
The bad news: It comes 29 days later than 10 years ago. The really bad news: If Congress and the White House don’t settle the looming tax issues dubbed “taxmageddon,” then another 12 days will be added to the “Cost of Government Day,” developed by Americans for Tax Reform.
And if that deal includes a tax increase, as the Democrats want, then the recent and slight reduction in the days needed to make enough to pay your share of government spending will be reversed, said ATR. “A so-called deal that presents tax hikes as part of any solution will erase the ground gained for taxpayers after a year of successful efforts to cut spending,” said ATR President Grover Norquist and Mattie Duppler, executive director of ATR’s Cost of Government Center.
Also, workers in higher tax states have to work longer than those in low tax states. For example, taxpayers in Connecticut have to labor until August 9 to pay off their burden of government, compared to June 28 in Tennessee.
