Cost of “Freedom from Government Taxes” Day
Tax Freedom Day is the day of the year when the "nation as a whole has theoretically earned enough income to fund its annual tax burden." But this only accounts for federal taxes.
COGD (Cost of Government Day) is the day when an average U.S. worker has made enough gross income to pay all his or her share of the spending and regulatory burden imposed by all branches of government (the federal, state and local levels).
Now, that's a day to think about. What! We just missed it?
Yep, COGD was July 15 this year — three days earlier than in 2011 (somewhat due to conservative legislators who continue to reign in spending, even in today's partisan political climate).
But check out COGD since 1977.
Skyrocketing federal expenditures in 2009 moved COGD out by about a month, after all those years of relative stability. Can the U.S. take four more years of this financial insanity?