New National Holiday
August 16, 2011
No Change In Your Pockets? The U.S. Government Has It.
August now has its own national holiday, thanks to high taxes.
This year, on August 12th, Americans finished paying for the federal government out of their hard-earned paychecks. This “celebration” is now being tagged “Cost Of Government Day!” According to Americans for Tax Reform and and The Center For Fiscal Responsibility:
“In 2011, Cost of Government Day falls on August 12. 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.
The full report is available here, but thanks to Grover Norquist’s great group we can provide you a couple of takeaways:
- Impact of Obama overspending: Americans have lost 29 days of the calendar year thanks to Obama’s overspending and regulatory zeal. 2011 marks the third straight year COGD has fallen in August. Prior to the Obama Administration, COGD had never fallen later than July 21.
- Stimulus, bailouts, and federal spending: The effects of the bailouts and failed “stimulus” plan are still being
felt by Americans, who must work a full 103 days to pay for the costs of federal spending. - State and local government spending: Americans spend 44 days working to pay off state and local government spending.
- Regulatory burden of Obamacare and Dodd-Frank: Americans are forced to labor 77 days to pay for total federal regulations, a workload that will increase exponentially with the implementation of the Dodd-Frank financial regulatory bill and Patient Protection and Affordable Care Act, known more popularly as Obamacare.
- Cost of Government Day in the fifty states: The report also measures varying government burdens in each state to calculate their respective state Cost of Government Day. As in past years, taxpayers in Connecticut must work the latest to celebrate their COGD, laboring all the way until September 10 to pay off the full costs of government. Taxpayers in Mississippi worked the shortest amount of time to pay off their burden off government, laboring until July 19.”
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