Tax Freedom Day

via Doug Bandow @ The American Spectator.

Congratulations, Americans! The average US citizen has now accomplished their most substantive civic function and paid their taxes for 2007. We can now all be good little citizens and go on living the rest of our lives now. Thank you, Uncle Sugar.

"This year the average American will spend 79 days working to pay Uncle Sam. That's longer than for any other purpose -- housing and household operations only take 62 days. Next runs health care at 52 days.State and local levies come next, accounting for 41 days. In contrast, food and transportation each only run 30 days. Recreation hits 22 days, while clothes take just 13 days.At the federal level the various payroll levies are almost as burdensome as the income tax, running 29 and 33 days, respectively. (Many low-income Americans no longer pay any income taxes; most wage earners making less than $100,000 pay more in payroll taxes.) At the state level, sales and property taxes (13 and 12 days) outrange income taxes (10 days). The federal corporate income tax makes Americans work another 12 days; estate, gift, and other levies fall far behind."

Tax Freedom day has appeared later and later in the year over the course of time. In finally hit in the month of February during the height of WWI in 1918. It slipped into March during The Great Depression, first in 1933 and for good in 1937. It went into April during the early in 1943 as America geared up for WWII, recovered in the post war years, then slipped back during the Korean conflict and the Cold War. In took until 1998 to reach May, slipped back into April due to recent tax cuts, but appears poised to go into May and stay for good next year, due those self-same tax cuts being due to expire in 2010, and with the substantial increase in Federal spending, up 45% during the Bush administration, up 27% in real terms. Ouch.