Time to Celebrate: Cost of Government Day Just Passed
-- Citizenlink (by Bill Wilson, Washington, D.C., correspondent)
SUMMARY: It takes the average American until July 4 to pay off the cost of government.
The Founding Fathers rebelled at less than a penny tax on tea. Now, government consumes 50.4 percent of all personal income -- and this July 4 marked the date when the average American worker has earned enough to pay off his or her share of government expenses.
Broken down, it takes 125 days to pay for all federal, state and local spending, 60 days to pay for federal and state regulations.
Americans for Tax Reform President Grover Norquist said there is good news and bad news in the fact that Americans are now working more than half the year until they reach what's been called Cost of Government Day.
"The good news for the total cost of government is that the regulatory burden is coming down a little bit with some of the deregulation under President Bush. State and local government costs are coming down a little bit," he explained. "The bad news is that federal government spending continues to grow."
Daniel Clifton, executive director of the American Shareholders Association, said the government spends more than it receives.
"So you've worked half the year just to pay off all costs imposed at all levels of government," he said. "And without reform of our major federal programs, we're going to be working into mid-August."
The future, he added, will be bleak in absence of reform.
"We are obviously headed in the wrong direction," he said. "As the population ages, the growth of the government is going to continually grow."
The remedy, Norquist explained, is a tax structure that reduces government growth and stimulates the economy.
"Step one," he said, "is to have pro-growth tax cuts and pro-growth deregulation so that the economy grows more rapidly."
SUMMARY: It takes the average American until July 4 to pay off the cost of government.
The Founding Fathers rebelled at less than a penny tax on tea. Now, government consumes 50.4 percent of all personal income -- and this July 4 marked the date when the average American worker has earned enough to pay off his or her share of government expenses.
Broken down, it takes 125 days to pay for all federal, state and local spending, 60 days to pay for federal and state regulations.
Americans for Tax Reform President Grover Norquist said there is good news and bad news in the fact that Americans are now working more than half the year until they reach what's been called Cost of Government Day.
"The good news for the total cost of government is that the regulatory burden is coming down a little bit with some of the deregulation under President Bush. State and local government costs are coming down a little bit," he explained. "The bad news is that federal government spending continues to grow."
Daniel Clifton, executive director of the American Shareholders Association, said the government spends more than it receives.
"So you've worked half the year just to pay off all costs imposed at all levels of government," he said. "And without reform of our major federal programs, we're going to be working into mid-August."
The future, he added, will be bleak in absence of reform.
"We are obviously headed in the wrong direction," he said. "As the population ages, the growth of the government is going to continually grow."
The remedy, Norquist explained, is a tax structure that reduces government growth and stimulates the economy.
"Step one," he said, "is to have pro-growth tax cuts and pro-growth deregulation so that the economy grows more rapidly."
posted by Veritas Man at 5:49 PM
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