BIG GUBMINT’S BITE GETS BIGGER …
|| By FITSNEWS || So tax day has come and gone … but what about the day that really matters? The day when you can stop working for the government … and start working for yourself?
We’re referring to “Tax Freedom Day,” which falls on April 24 this year – a day later than last year, according to the Tax Foundation.
What’s Tax Freedom Day? It’s the point on our 365-day calendar when America has collectively earned enough money to pay its debt to federal, state and local government.
“Americans will pay $3.3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.8 trillion, or 31 percent of the nation’s income,” the organization calculated.
Wow …
And if you included annual federal borrowing – i.e. future taxes owed – the date would get bumped all the way back to May 8.
Ready for more insanity? According to data from the U.S. Bureau of Economic Analysis (BEA), Americans will spend more on taxes this year than they do on food, clothing, and housing combined.
Take a look …
(Click to enlarge)
(Chart: Via)
Yeah … and we wonder why the American economy is on the ropes?
South Carolinians actually have it easier than most states – with their Tax Freedom Day coming on April 12 (eighth earliest nationally).
But don’t let that fool you … one big reason the Palmetto State’s Tax Freedom Day comes so early is its citizens simply aren’t making any money.
In fact Tax Freedom Day inched forward on the calendar during the Great Recession … only to be pushed back again over the last eight years.
23 comments
When Bush was president my family got tax REBATES more than one year. When Bush was president, SC had a $1 billion budget surplus (that Sanford squandered) It was $300 per family member. THAT WAS GREAT…
On top of that TRUE unemployment was as low as 4.5 percent under Bush, gas was VERY low almost ALL 8 years (which is like a BIG tax cut) and salaries and opportunity (business start-ups)…increased..
ANYONE who argues that Bush’s was a bad economy and Obama’s is good…is not only a fool…you D*#n fool…
But media is reality to the most dull and stupid….and too many of the ignorant vote, evidently…not unless there are millions of cheaters (there may be)….
And when Bush was finishing up being President unemployment was around 10%, gas in his last year was $4.25 a gallon, the only year SC had a surplus was one year after they had overbudgeted and took the unspent money to the P&L the following year in an accounting trick (can you say Enron). You’re delusions are so entertaining. As for unemployment rates, five years into W’s term unemployment was were it now, and he started off with a booming economy and a $200 billion a year surplus. He was, and will go down in history, as the absolute second worst President in history, right after Hoover. But go ahead, proceed——
A cyclical Recession was brought on by the (lying and homophobic Mark Foley) Democrats taking over Congress in 2006. The Democrats’ NO DRILL policy (which excludes Bill Clinton)…began the economic drop off…
Even w/ that, a Good president fixes the problems…as Bush did w/ gas prices in the second half of 2008)…
Obama has just turned the House Democrats’ F*#k up into a multi-year nightmare…
Judge both presidents on their overall terms…and Obama has been TOTALLY Failed…Bush was a Gigantic success…
LMAO – as you would say. That’s funny. You’re blaming the worst economy since the Great Depression on Mark Foley – a gay Republican pedophile Congressman from Florida. You really are out of it. Have you gotten a CAT scan lately? As for fixing gas prices – Bush’s solution, cause a huge Depression so demand tanks and prices fall. Great plan! God you’re so out of it. Hey, how do you blame Congress when the great unemployment numbers you love to quote are from 2007 – after the Dems took control of Congress. Accountability sure ain’t your thing. Your so all over the map we’re gonna call you Sputnik.
No, it’s the Democrats’ fingers all over it…and Obama has just made it worse…
You’re either a Dumb@$$ or a (paid) liar (what I suspect)…if you don’t know that…
Sorry, as Colin Powell so well informed Mr. Bush, ‘you break it, you own it.” He broke it, and for all of history, he’ll own it. Sorry dude!
Ah Ha … So we agree on one thing. The Great Depression was a bad thing … brought on by what? Would that also be central planning?
… Foley had some fellow travelers in the republicrats.
Did he do what the Democrats and media accused him of…is the question…if I read you correctly, you’re attacking Republicans for a personal choice.
Why is that OK when Democrats do it…but criminal if their enemies do it?
I believe you just “slapped the P!$$” out of him Rocky.
Yeah, every so often he needs a good slappin’ – but he’ll start calling me names shortly. Those will be: LIAR, dumb@$$, idiot, f$#kup, and later, he’ll accusing me of performing oral acts on political figures. But hey, it’s Thursday.
See – dumb@$$ and and liar – in all of seven minutes.
Is there an echo in here?
What is it with you fools that makes you believe that the government stealing from your children will somehow bring about that fabled hope and change?
One must thank congress for most of that. By bailing out the “too big to fail” Wall Street bankers, the jobs market failures and government inflation jolted the economy.
Remember who else came off of the campaign trail to vote that in? Oh Bummer.
Eddy, don’t feed the animals. The recession started long before TARP. Inflation has been running below 3% for years.
Well, They are punishing small businesses, certainly.
And it is small businesses that create the vast majority of private sector jobs.
Ip so, facto …
Obama and the Democrats are DESTROYING ALL business except Solyndra, GM-Teamsters and their cronies…
If you are capitalist…your government HATES you…even if you are paying for their lavish lifestyle, and the lazy-@$$ voters who love hand-out politicians..and empower them…
My private sector employer is doing just fine. Most are going great guns. Only destroyed in your mind. It reality so hard for you to grasp?
You’ve lied about your occupation. So you are disqualified.
Dream on buddy. Dream on.
If you got off your tangent of the collective Republican Party – we could agree more often. But you are wallow so deep in their crap you can formulate a single opinion of your own. Think – individual v. collective.
We might collectively agree to protect our country, but that should not strip us of our individual thoughts/ rights.
Not too good at math are you, Fits. Tax freedom is proportional to tax revenue, but inversely proportional to income.
Taxes/income = #day/365
Low income would push the Tax Freedom Day forward, not back.
I paid 8.5% effective tax rate. What’s the problem? No small business write-offs, no farm subsidies, I mean farm welfare.