Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day, the day of the calendar year when the average American worker is done paying off his or her share of the cost of government. While other indices look primarily at taxation as a measure of the cost imposed by government, the annual Cost of Government Day Report takes into account the total spending burden as a percentage of GDP coupled with government regulations, an oft-forgotten, but significant burden also borne by the economy.
With Cost of Government Day falling on Aug. 12 this year, American workers had to work 224 days out of the year to meet the cost imposed on them by government. In other words, for 2009 the cost of government consumes a whopping 61.34 percent of national income.
Last year's COGD date of July 16 was already the fifth latest it had been in 32 years. This year the day on which the average American worker has earned enough in cumulative gross income to pay off his or her share of spending at all levels of government and the often forgotten cost of regulation has been moved into the middle of August. With that, COGD 2009 falls 26 days later than last year.
With Cost of Government Day falling on Aug. 12 this year, American workers had to work 224 days out of the year to meet the cost imposed on them by government. In other words, for 2009 the cost of government consumes a whopping 61.34 percent of national income.
Last year's COGD date of July 16 was already the fifth latest it had been in 32 years. This year the day on which the average American worker has earned enough in cumulative gross income to pay off his or her share of spending at all levels of government and the often forgotten cost of regulation has been moved into the middle of August. With that, COGD 2009 falls 26 days later than last year.
