"Last year, Americans paid $989 billion in income taxes. Add to that sales taxes, property taxes, excise taxes, and other taxes, and the total tax burden comes to nearly 27 percent of national income. The Tax Foundation calculated that you work from the beginning of the year until April 9 just to pay off your taxes. Tax Freedom Day is moving alarmingly close to Tax Day. Yet taxes aren't the whole picture when it comes to measuring the size of government.
The federal government spends far more than it taxes. Last year alone, the deficit was $1.4 trillion. This year's deficit is expected to grow to around $1.8 trillion. Add in the burden of federal deficit spending, and we're working until May 17 to pay for the growth of government (and that's not even counting state and local deficit spending).
Yet even that's not all. The hidden tax of federal regulation cost businesses and consumers an additional $1.187 trillion last year-none of which shows up in the federal budget. Regulation eats up an additional 8.3 percent of GDP. We have to work an additional 34 days to pay for the federal regulatory burden."
http://www.foxnews.com/opinion/2010/04/15/warren-crews-ryan-young-tax-day-regulation-tax-freedom-day/
No comments:
Post a Comment