Now this is depressing. I've written frequently about the Tax Foundation's calculation of Tax Freedom Day, which is arrived at by dividing total federal, state and local taxes by national income. This year we worked until April 12 to pay all taxes. But Grover Norquist's group has now calculated a Cost of Government Day by adding in the other costs of government overreach (think Obamacare and the EPA, for example):
When you include the costs of federal deficit spending and the regulatory burden this year, however, you don't reach the Cost of Government Day until Aug. 12. Americans will work for 103 days to pay for federal spending, 44 days for state and local spending and 77 days to cover the cost of the regulatory burden.
This is the third year in a row that Americans will work into August to pay for the cost of government. Before 2009, the day never fell later than July 21.
That's today, in case you missed it, which is more than seven months into the year. Was I saying people who blamed the Tea Party for our credit downgrading were imbeciles? I was being too kind.
But, anyway, Happy Cost of Government Day! Go buy yourself a drink if you have any money left.
